Analysts cut upstream firms' FY15 earnings estimates, while raising those for GAIL and Gujarat Gas.
Struggling to meet budget targets, the government had in the just concluded fiscal asked cash-rich PSUs to pay second interim dividend as well as undertake share buyback.
Based on this settlement, the Supreme Court has disposed of the case on February 20.
Although he denied any wrongdoing, Sibal was forced to revert to Oil India on October 31 as group general manager -- a rank which he held prior to becoming the director general of directorate general of Hydrocarbons.
Ajit Mishra, vice president, Research, Religare Broking, answers queries on how to invest in stocks.
Following the October 24 Supreme Court order, the department of telecom estimated that the total liability of 15 telecom companies, including penalties and interest, would be Rs 1.47 lakh crore.
ONGC Videsh Ltd and its partners Indian Oil Corporation and Oil India Ltd have dropped plans to develop an oil field in Iran after the discovery was found to be commercially unviable.
Ruling out any plans to restructure the National Investment Fund (NIF), the government on Friday said the proceeds from divestment of the NHPC and Oil India Limited (OIL) will be credited to the NIF.
Falling crude prices and the global credit crunch have jeopardised India's efforts to attract more investment in oil exploration and production, with several domestic and international companies opting to sell part of their participating interest in E&P projects. Around half-a-dozen companies are currently in talks with exploration and production majors -- mainly state-owned Oil India and Oil and Natural Gas Corporation -- to farm out part of their stakes.
Among PSBs, the top gainers have been Union Bank of India and Corporation Bank, whose shares have rallied more than 15% each. Indian Bank and Bank of Baroda, too, registered double-digit rise
Though the NDA government had been trying to privatise 20 companies, a decision for which was taken in 2017, and included national carrier Air India, the investor community evinced little enthusiasm for any of them. Now, with an in-principle approval for privatisation of BPCL, CCI and SCI, the government has taken the plunge again.
Michael Tayo scored in the dying minutes to help Air India salvage a 1-1 draw against qualifiers Oil India Limited in a Group D encounter of the 30th Federation Cup at Vidyasagar Krirangan, near Kolkata, on Sunday.
Dipam is conducting the selection of merchant bankers and legal advisors, and planning roadshows.
After sharing the losses of state-owned fuel oil retailers, upstream producers may also have to pay income tax on the burden they take on their books.
India on Wednesday announced auction of 46 small discovered oil and gas fields, holding about Rs 70,000 crore worth of hydrocarbon reserves.
On the NSE, Oil India opened with a premium of 4.38 per cent at Rs 1,096. The stock then climbed to Rs 1,127 a piece before skidding to Rs 1,090.
The state-run Oil India Ltd has raised a war chest $1.5 to 2 billion and is eying acquisition of small to medium sized oil producing companies overseas.
Students' organisations and political parties are participating in the bandh to protest the Citizenship (Amendment) Bill, 2019, which seeks to grant Indian citizenship to non-Muslim refugees from Pakistan, Bangladesh and Afghanistan if they faced religious persecution there.
During the first round of discovered field auctions, there were 134 bidders for the 34 blocks on offer
India on Tuesday pitched for a stake in vast oil and gas fields as well as LNG terminals in the frozen Artic of Far East Russia as it looked to import more oil from the former Soviet republic as part of a strategy to diversify its energy basket.
Mumbai F C registered their fourth successive victory in the second division of the ONGC I-League, beating Oil India 3-2 in a Cluster III match at the Sahu stadium in Kolhapur on Monday. The victory put them on top the table with 12 points.
'Tinkering will not do. Merely staggering spectrum dues comes nowhere near solving the problem,' cautions Rahul Khullar.
Against FY17 target of Rs 56,500 cr, Centre plans to fetch around Rs 6,400 cr in the first half.
ONGC and Oil India bought a five per cent each of the government's stake in IOCL, yielding Rs 5,340 crore (Rs 53.4 billion) to the government.
India has long been a leader in non-proliferation, stood side by side with all of us in the international community to say that Iran should not acquire a nuclear weapon," US Under Secretary of State for Political Affairs Wendy Sherman told reporters in New Delhi.
ONGC Videsh Ltd and its partners Indian Oil Corporation and Oil India Ltd had in 2009 dropped plans to develop the Binaloud oil find in the Farsi offshore block as it found one billion barrels of reserves commercially unviable.
Valuation slips on rights cancellation; OIL pulls out, GAIL puts plan on ice.
Shares of NTPC slid as much as two per cent on the BSE in the early trade on Thursday as the government's 9.5 per cent stake sale of country's largest power producer commenced on the bourses.
Assam Rifles and J & K Bank will face off on October 26 for a spot in the main draw of the Osian's Durand Cup tournament in New Delhi.
The duo closes in on the stake put on the block by Videocon, US' Anadarko.
India Inc borrowed heavily in December.
As it gets ready for disinvestment of 10 per cent government equity through the offer-of-sale route in January, T K Ananth Kumar, director (finance), tells Jyoti Mukul the company is one of the cheapest explorers and producers of oil and gas, but awaits more predictability in the government-subsidy sharing mechanism.
Once all formalities are completed, the ONGC consortium will spend about Rs 1,700 crore (Rs 17 billion) on developing these three blocks, sources indicated.
Chairman says turnaround has begun in sector expects 10% growth in firm's core business this year.
OIL, which had paid a total dividend of 190 per cent in 2011-12, in January declared an interim dividend of 110 per cent for the current fiscal.
The Houston-based company is selling up to 50 per cent of its oil-sand reserves in Alberta. There are some producing assets and some exploration assets on offer.
"There are five Indian and six foreign companies which have submitted expression of interest (EoI) for buying stake in the gas transportation company (RGTIL)," a source privy to the development said.
BPCL and ONGC raised $4.9 billion in 2016-17 against $1.65 billion raised by Reliance
Burdened with the impact of subsidising the retail losses of downstream oil marketing companies (OMCs), Oil India Ltd has asked the Union government to take the average of the last five years' net profit for calculating the proportionate share of upstream companies, against the current practice of the last three years' average.
As per the current market price, the government is expected to fetch Rs 5,300 crore (Rs 53 billion) by selling 10 per cent equity or 24.27 crore (242.7 million) shares at discounted price to Oil and Natural Gas Corporation and Oil India Ltd.
