Indian Oil Corporation is mulling setting up a wholly-owned overseas investment vehicle if the government rejects the plan to create a second incarnation of ONGC Videsh Ltd with the participation of all state-owned oil firms.
India is negotiating a term contract with the new administration in Baghdad to import Iraqi crude even as it hopes to keep the exploration acreage awarded to it by the Saddam Hussein regime.
Petroleum Minister Ram Naik said on Thursday that he expected a new government in Iraq to honour any oil exploration contracts held by Indian companies.
Draft prospectus for the upcoming mega public offers in public sector oil companies -- Gas Authority of India and Oil and Natural Gas Corp -- are expected to be filed with the Securities and Exchange Board of India
Oil and Natural Gas Corporation has proposed to set up a joint venture company outside the government purview, for retailing petrol and diesel.
After Indian Oil Corporation, state-run Bharat Petroleum Corporation is planning to take over petrol stations in Sri Lanka, company chairman and managing director S Behuria said on Friday.
State-run gas firm Gas Authority of India Ltd on Tuesday said it has signed an agreement with Mosbacher India and Hindustan Oil Exploration Co Ltd for sale and transportation of gas produced from PY-1 fields in offshore Cauvery basin.
India is seeking over 3 million tonnes of crude oil from Iraq this fiscal even as it hopes that the interim US-led regime in Baghdad honours award of an oil exploration block to state-run ONGC Videsh Ltd by the previous Saddam Hussein regime.\n\n\n\n
State-run Oil and Natural Gas Corporation and private sector Hindustan Oil Exploration Company will pick up British oil and gas firm BG Group's stake in a Gujarat offshore exploration block.
Burren Energy of UK has acquired US energy major Unocal Corp's entire 26.01 per cent stake in Hindustan Oil Exploration Co Ltd for $26.01 million and has made an open offer to acquire further 20 per cent stake.
Hindustan Oil Exploration Company on Friday said it was in talks with British oil and gas major BG Group for buying its 62.64 per cent stake in Gujarat offshore block CB-OS/1, senior company official said in New Delhi.
The rupee ended at a 17-month closing high on Monday, helped by strong corporate inflows, but the Reserve Bank of India's steady dollar purchases checked its gains, dealers said.
The Indian desire to deepen its ties with Vietnam, especially in the oil sector, besides defence and trade, was conveyed to the top leadership in Hanoi by External Affairs Minister Sushma Swaraj.
ONGC is the country's most profitable PSU.
To find out opportunities for Malaysian companies and increase trade with Gujarat, Consul General in India, Mohamed Hatimi Abas and Vice Consul Omar Salleh today visited a trade exhibition at Gujarat University Convention centre.
"BG is close to selling its 62.64 per cent stake in the Cambay basin exploration block CB-OS/1 to HOEC. Talks have progressed well and the sale is likely to take place soon," industry sources said in New Delhi.
The BSE Sensex and Nifty fell more than 2 per cent on Tuesday, heading for their biggest daily loss since the midst of the rupee crisis in 2013
Oil explorer ONGC again emerged as the highest profit-making PSU of the country during 2012-13 while telecom major BSNL turned out to be the biggest loss-making enterprise, says the Economic Survey.
President Pranab Mukherjee arrived in this historic Vietnamese city on Tuesday as part of his four-day state visit to the country. The tour of the city, formerly called Saigon, is the second and the last leg of Mukherjee's visit to the Southeast Asian country which he is visiting to bolster bilateral ties especially in areas of defence, security and energy.
The SCO is increasingly seen as a counterweight to NATO and its membership will help India have a greater say in issues relating to security and defence besides combating terrorism.
Among the private banking majors ICICI Bank and HDFC Bank were down 0.2%-0.5% each.
Index heavyweights continue to be top losers with ICICI bank.
FM has agreed to dump an ill-conceived plan to slap a retrospective 20% levy on overseas asset managers
China and Vietnam have an acrimonious relationship due to their standoff over the South China Sea, a huge source of hydrocarbons.
Former army chief General V K Singh has taken potshots at the functioning of Prime Minister Manmohan Singh.
Events to keep an eye out for...
Russian President Vladimir Putin on Thursday held talks with Prime Minister Narendra Modi to further boost cooperation between the two strategic partners in crucial sectors like defence, energy and trade at a time when Russian economy was facing Western sanctions.
The real benefits can be seen when prices stabilise, preferably at levels acceptable to both consumers and producers.
The Group of Ministers on Telangana is set to discuss the draft bill for the creation of Telangana on Saturday.
India became more dependent on Iraqi oil recently after it cut supplies from the sanctions-hit Iran.
The fall in crude prices has added to the gains.
PM Modi to travel to Vietnam before going to China to attend G20 summit.
Aviation companies were in focus with all the three airliners SpiceJet, InterGlobe Aviation and Jet Airways adding in the range of 2% to 3% on the BSE
The S&P BSE Midcap and the S&P BSE Smallcap indices gained 0.3% and 0.5%, respectively
'Singh apprised the Japanese leaders about Islamabad's 'evil design' on Kashmir at a time when Pakistan has decided to internationalise the issue.'
Cairn files notice against India in $1.6 billion tax dispute.
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