Oil sector officers, who brought the country to a grinding halt, by going on strike for nearly three days, will appeal to their respective management to reinstate the employees sacked by the companies.
In the oil and gas sphere, Congress' manifesto talks of the intention to improve oil diplomacy and intensify domestic oil exploration and production.
The BSE mid-cap Index will include shares of Allied Digital Services, Cals Refineries, Century Plyboards, Gammon Infra, Hindustan Oil Exploration, Indiabulls Securities, Jai Balaji Industries, Jet Airways, Jindal Drilling, Puravankara Projects, Rain Commodities, S Kumars Nationwide, Shriram City Union Finance, Thermax and Thomas Cook India.
Under the first six rounds of NELP, a total investment of $8.3 billion in exploration of oil and gas was committed, out of which about $4.5 billion has already been incurred on exploration and $1.4 billion on development of discoveries. A further $1.5 billion exploration spend is budgeted for NELP VII.
On the sidelines of crude oil price rise, Indian oil majors including Reliance Industries, Oil and Natural Gas Corporation and Essar Oil are eyeing exploration opportunities at the oil-rich sand beds of Alberta in Canada. The firms are believed to be drawing up plans in consultation with the central government and considering tie-ups with international firms for sand-oil exploration.
The retrospective tax controversy was highlighted by Vodafone, but Cairn Plc's continuing problems point to the impact this law has had on FDI in India's oil and gas sector.
India Inc is looking at the public sector to steer its ambitions, as former PSU heads are taken on board to lead the private sector.
ONGC and the Hinduja group are lining up investment of close to $20 billion in exploration assets in Iran and a refinery and LNG terminal in India.
Global consulting firm Hay Group and Fortune Global Survey 2007 have adjudged state-run Oil and Natural Gas Corporation as one of the World's Most Admired Companies.
ONGC Videsh Ltd has much riding on $150 million investment plans in gas and oil exploration that Petroleum Minister Murli Deora says is critical for India's energy security. But apart from this, Myanmar apparently offers rich potential in engineering, fertilisers, tourism and pharmaceuticals for the private sector.
Rs 35,000 crore investment to increase capacity by 75%.
'BPCL has always been spoken about as a multinational company though it is State-run... this sets our work culture also apart.'
Nihal Kolhapurkar was allegedly kidnapped by carpenters Bipin Singh and Raju Rajbhor from his playschool in suburban Malad at 1130 hours on Wednesday.
During the first round of discovered field auctions, there were 134 bidders for the 34 blocks on offer
Metals bucked the trend and shone across the board.
ONGC Videsh and Cairns India have bid for oil exploration blocks in Sri Lanka.
Before the next round, the government needs to cap the windfall profits coming out of global prices shooting up.
Oil explorer Cairn Energy Ltd has said it would invest $90 million, along with its joint venture partners, over the next nine months toward drilling activity at Ravva, the offshore oil and gas field in the KG Basin.
The government plans to sell a 10 per cent stake in oil exploration and production company Oil India to government-owned refinery companies. The government is also planning a maiden share sale to the public.
India's east coast is emerging as one of the hydrocarbon hotspots in the world with 100 trillion cubic feet of gas and two billion barrels of oil in place.
Patel said the kidnappers treated all the Indians well.
The two Indian engineers abducted in Nigeria are safe and may be released soon, the wife of one of them said on Sunday.
Oil tanked to a 7-year low as OPEC decided to maintain production.
Oil and Natural Gas Corp, the biggest player in the country's crude oil exploration and production business, is planning to invest around Rs 9,000 crore (Rs 90 billion) in phase two of the redevelopment of Bombay High.
MMTC, the most valuable public sector undertaking (PSU), raced past oil exploration giant Oil and Natural Gas Corporation (ONGC) in the market capitalisation (m-cap) ranking to occupy the number-two slot on Friday. MMTC, with an m-cap of Rs 2,71,103 crore (Rs 2711.03 billion), pushed ONGC (m-cap Rs 2,64,953 crore) down by a slot to the third position in the market cap chart on BSE.
The fall in metal and mining stocks comes on the back of weak Chinese trade data
Panasonic on Wednesday entered the notebook computer market in India with the launch of six models targeted at the verticals where wear and tear is high.
India is massively underexplored, says Rahul Shir, CEO, Cairn India.
The government is mulling divesting a minority holding in oil exploration firm Oil India Ltd but no decision has been taken on the mode of sale, Petroleum Minister Mani Shankar Aiyar said on Wednesday.
Decks have been cleared for National Thermal Power Corp's foray in oil exploration sector with the government awarding one block to the power major under the fifth round of New Exploration Licensing Policy.
The government delay in approving ONGC Videsh Ltd's investment in two oil exploration blocks in Nigeria has cost the Indian flagship firm a majority stake, Subir Raha, chairman, ONGC said.
The state-run Oil and Natural Gas Corporation may buy stake in Bharat Petroleum Corporation's 6 million tonne Bina Refinery.
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