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RIL had objected to the state government's decision to receive bids in sealed envelopes instead of an open auction.
Markets end almost flat, bluechips in focus.
Making sense of the international crude market is incredibly hard.
Teheran bargains on OilMin plan for more rupee payment via increased import; wants investment deal on gas block.
The FinMin will pay Rs 5,324 crore (Rs 53.24 billion) for Jan-March.
Markets gained for the second straight session to kick-off the September F&O series on a robust note.
India has already pipped Japan as the world's third-largest oil consumer.
The President noted that the green shoots of recovery were already visible, with the economy growing at 5.7 per cent during the first quarter of current fiscal.
Their research paper on aid by rich nations got leaked
The government shouldn't hide behind the veil of making a domestic giant out of the HPC-ONGC deal, rather it should just say it needs cash from this divestment exercise, says Sudhir Bisht.
In the last fiscal, the government had originally budgeted a dividend income of Rs 27,178 crore (Rs 271.78 billion) from PSUs.
The S&P BSE Sensex gained 115 points to end at 24,338 and the Nifty50 climbed 42 points to close at 7,404.
Mukesh Ambani-led RIL, which had a cash chest and marketable securities worth over Rs 90,000 crore (Rs 900 billion) at the end of the last fiscal, is known for very effectively managing its financial resources by placing them in liquid instruments and highly rated securities.
Petroleum minister M Veerappa Moily would like to import 11 million tonnes of Iranian crude in this financial year.
OVL had bid for two of the 10 shallow-water blocks that Myanmar had auctioned in December but drew a blank when the fields were awarded on March 26.
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.
Bank shares were the top gainer in early trades with Bank of Baroda up over 4%.
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.
Pooling will also kick-start projects of Reliance Power, Torrent, Lanco.
RIL has been selling gas from KG-D6 at the same price since it started production in April 2009.
Earlier this week, the ministry had come out with a clarification, saying domestic gas producers had to stick to the earlier price of $4.2 a unit until a further notification from the new government.
With the Petroleum Ministry opposing disinvestment of IOC in the market, government is exploring the option of selling its shares to other oil PSUs like ONGC and OIL.
The 30-share Sensex ended higher by 30 points.
Oil imports are a third of India's total import bill.
Institutional investors - both foreign and domestic - lapped up the government's big-ticket share sales on Friday, helping it add nearly Rs 9,000 crore to its revenue kitty.
The Union Cabinet on Wednesday decided that 10 per cent of the government's stake in Coal India Ltd would be sold. Similarly, the sale of five per cent of its stake in ONGC and 11.4 per cent in the hydropower public-sector unit, NHPC, has been cleared.
Low fuel prices to help oil marketing and refining sectors but upstream players will stay under pressure.
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The Oil Ministry on October 31 issued orders asking upstream oil and gas producers like ONGC and Oil India Ltd to give Rs 16,729.74 crore (Rs 167.29 billion) to make up for 47 per cent of the Rs 35,328-crore (Rs 353.28 billion) revenue that retailers lost on selling diesel, domestic LPG and kerosene at government controlled rates in second quarter.
Kotak Mahindra Bank and Vedanta were the top Nifty gainers.
We are serious about setting up a bank and use the parent branding that is a household name in India, says Venugopal Dhoot.
A deal with the Assam government, which holds majority stake in the company through Assam Industrial Development Corporation Ltd, is likely by October.
Prime Minister Narendra Modi on Thursday said even though India's options have increased, Russia will remain the country's "most important" defence partner as Moscow offered to fully manufacture in this country one of its most advanced helicopters.
The FM should quietly get the oil companies to offload the shares in the market and pocket the gains
Financials declined amid profit taking while energy shares fell after the government hiked excise duty on transport fuels.
the connection between the sunflower mystery and the 'rotatable solar trees' India plans to develop.
The banking, oil and metal sectors were the top sectoral losers on the BSE, while IT stocks rendered support at lower levels.
The fuel reforms are a very important signal of the government's commitment to tough economic reforms.
The staggered increase in kerosene rate may not have the same impact of freeing up the fuel price as for diesel.
Keeps open the option to make payments in yen or yuan in the face of sanctions
A bench headed by Chief Justice P Sathasivam sought response from CBI on the petition filed by Civil society members including former Cabinet Secretary T S R Subramanian and ex-Naval chief Admiral L Ramdas seeking probe by the agency in the alleged 'collusion between RIL and the political establishment'.
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