Reliance Gas, which had successfully bid for three cities -- Rajahmundry in Andhra Pradesh, Shahdol in Madhya Pradesh and Yanam in Pondicherry -- during the second round of bidding for CGD in 2009.
ONGC Videsh Ltd, the overseas arm of state-owned Oil and Natural Gas Corp, will acquire US energy firm ExxonMobil's 30 per cent stake
India's ONGC has lost the giant Kashagan oilfield to the Chinese after Kazakhstan blocked its $5 billion deal to buy US energy major ConocoPhillips' stake in the Caspian Sea oilfield.
In all, 61 companies have been pre-qualified to bid for 11 shallow water and 19 deepwater blocks in an international tender, according to Myanmar's Energy Ministry.
India Inc has learnt to take risks and compete with global players to create wealth, industry experts said on Monday.
Bajaj Auto's Rahul Bajaj, Sunil Mittal of Bharti and Oil and Natural Gas Corp's Subir Raha are among the 20 finalists announced by Ernst and Young for the E&Y Entreprenuer of the Year award.
India is the world's fourth-biggest oil consumer, importing four-fifths of its needs as its own output shrinks.
Ahead of its public offer to dilute 10 per cent government stake, state-owned Oil and Natural Gas Corp said on Wednesday that its net worth has risen to Rs 42,250 crore (Rs 422.5 billion) as on December 31
They have been named for their stake in the Farsi offshore block.
At the same time, the Cabinet approved reducing government's stake in select PSUs such as IOC to below 51 per cent while continuing to retain management control.
Confusion prevailed in the Bombay Stock Exchange on Tuesday over a sudden rise in Oil and Natural Gas Corp share price to Rs 1,480, against the last close of Rs 1,256.95.\n\n
CNG prices in Mumbai may have to be hiked by about Rs 16 per kg and piped cooking gas by Rs 10 after government decided to divert some of its cheaper domestic gas to Gujarat.
About 507 employees of Oil and Natural Gas Corp have opted for voluntary retirement under the latest VRS scheme floated by the company, the Rajya Sabha was informed on Tuesday.
This is the highest any Indian company has been ranked on the Fortune Global 500 list.
The government has lost its appeal in the English High Court against a $111 million arbitration award in favour of Reliance Industries Ltd and Shell in a cost recovery dispute in the western offshore Panna-Mukta and Tapti oil and gas fields. High Court judge Ross Cranston on June 9, 2022 ruled that the government should have brought its objections over the arbitration tribunal not meeting the required thresholds, when issuing the 2021 award earlier, two sources with knowledge of the matter said. Rejecting the government's arguments, the court said the objections are barred by an English law principle whereby a party cannot raise matters in new proceedings that could have been raised in earlier proceedings.
Falling oil rates have made rigs available for hire at a cheaper rate. Oil and Natural Gas Corporation planned to foray into building rigs in June 2008 owing to its short supply as crude oil prices zoomed northwards.
About two dozen discoveries of the state-owned ONGC, Reliance Industries and the Gujarat State Petroleum Corp (GSPC) in KG Basin alone are languishing for want of right price.
International oil prices retreated from an over seven-year high but was still above $100 a barrel and continue to pose threat to India's inflation rate and current account deficit. While there are no supply concerns as the oil route remained open, consumers will feel the pinch when PSU oil firms start passing on the increase in international rates through a revision in petrol and diesel prices, which have been on a pause for over three-and-a-half-months in view of elections in Uttar Pradesh and four other states. The government is "closely monitoring the situation" and will "take appropriate steps as and when required", a top official said. Brent crude oil surged past $105 per barrel on Thursday for the first time since August 2014, following Russia's invasion of Ukraine.
RIL has more than half a dozen undeveloped discoveries.
India, which imports over 80 per cent of its oil needs, spent $87.7 billion on importing 220.43 million tonne (MT) of crude oil in 2017-18. For 2018-19, the imports are pegged at almost 227 MT.
Experts say local demand, government policies in retail and refining sector are attracting foreign players.
Reliance Industries Ltd, the country's largest company by revenues, profits and market value, has topped Indian corporate in the World's Best Employers rankings 2021 published by Forbes. Reliance was placed at 52 in the overall ranking of 750 global corporates likes Phillips, Sanofi, Pfizer and Intel. Other Indian names in the top 100 rankings were ICICI Bank at 65, HDFC Bank at 77 and HCL Technologies at 90, according to the Forbes ranking.
Pradhan said a team of officials of state-run Indian Oil Corporation had visited Vietnam and explored some business ventures
'Reliance on crude oil is still very high. Globally, natural gas is 25 per cent of the energy basket. In India, it has fallen to 6.5 per cent, from 11 per cent in 2014.'
The blaze erupted around 7 am in the gas processing plant of the ONGC located in Uran area of neighbouring Navi Mumbai, an official said.
The Petroleum Ministry has asked for Rs 26,000 crore (Rs 260 billion) as fuel subsidy for the third quarter of this financial year, but the finance ministry is inclined to provide only Rs 10,000 crore (Rs 100 billion) cash support.
A day after deciding to nearly double natural gas prices to $8, Finance Minister P Chidambaram on Friday hinted that power and fertiliser units may get gas at subsidised rates to keep electricity and urea costs down.
Narendra Modi's landslide victory gives him the mandate to deregulate diesel prices as well as raise natural gas rates with a clear road map towards free pricing to cut subsidies and shrink the budget deficit.
The acquisition of stake in Progress Energy Resources Corp's shale gas assets and Pacific NorthWest LNG for 1 billion Canadian dollars ($900 million) marks IOC's maiden entry into North America.
Indian basket at 6-month low of $49.11 a bbl
Chinese stock markets suffered their biggest single-day drop since the global financial crisis.
Adani is the fastest growing energy company in Asia-Pacific and the second fastest in the world
The government has ordered Oil and Natural Gas Corp (ONGC) to pay a near-record Rs 13,764 crore as fuel subsidy for the December quarter, a move that will dent the firm's profitability.
R C Bhargava, Kiran Mazumdar-Shaw & Dinesh K Sarraf are other members of the business delegation
Based on this settlement, the Supreme Court has disposed of the case on February 20.
IOC has been forced to shut down its Digboi refinery in Assam and is operating Guwahati unit at minimal throughput, while OIL has been forced to shut LPG production and its crude oil production has dropped by 15-20%. Sources said the agitation has blocked the movement of tankers and trucks, which are mostly used to supply petrol, diesel and LPG from the refineries to different parts of the North East.
Richest Indian Mukesh Ambani-led RIL was the top private sector company from the country as it jumped from 203rd rank last year to 148th.
© 2026 Rediff.com - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances