Keeps open the option to make payments in yen or yuan in the face of sanctions
Broader markets broke the winning streak and ended lower, underperforming the benchmark indices
ONGC Videsh Ltd and Oil India Ltd will buy Videocon Industries' 10 per cent stake in a giant Mozambique gas field for $2.475 billion.
At present, in Myanmar, GAIL and IndianOil have a minority stake in a gas pipeline which goes to China, through South East Asia Gas Pipeline Company.
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.
Markets ended lower amid volatile trade with Sun Pharma leading the decline.
Pharma shares extended losses after the government's ban on combination drugs.
Investors will remain cautious ahead of F&O expiry.
Metal shares were the top gainers with Hindalco up over 5%.
ONGC is raising debt for a spate of acquisitions over the past year
New Delhi is quietly reclaiming its space in Asia by forging alliances with China's neighbours. In a way, India is converting its much-talked about Act East Policy to Engage East practice.
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.
Giving a fresh impetus to its ties with ASEAN, India today said it would soon draft a five-year action plan starting 2016 for enhancing connectivity and cooperation in diverse areas and hoped the long-delayed free trade pact on services and investment will be signed later this month.
Markets end in the red, midcaps in focus
The reserves in Farzad-B are almost thrice the largest gas field in India.
India-Israel relations are at a crossroads. Simply chanting old hackneyed mantras on terrorism, secularism, democracy, et al, won't suffice. There is danger of stagnation setting in, says Ambassador M K Bhadrakumar.
The Turkmenistan event underscores the lengths to which China's oil-and-gas companies will go to curry favour in resource-rich locales.
Reason behind for the change in his stance: gas price increase.
'Unsurprisingly, the joint statement issued after Modi's visit contains a paragraph on terrorism.' 'It is on the usual lines that India would have with, say, Croatia.' 'The surprising part is that it shies away from getting into specifics,' points out Ambassador M K Bhadrakumar.
Russian firms expand their footprint in India. And take bigger steps to do business with India's private sector.
The sharp fall in oil price is positive for oil marketers as subsidy concerns reduce further.
Sensex climbs higher on favourable global cues.
Indian oil and gas exploration companies work in silos.
The 30-share Sensex closed up 34 points at 27,831 and the 50-share Nifty ended up 15 points at 8,356.
The market breadth ended weak on the BSE with 2,086 shares declining and 893 shares advancing.
India and Vietnam on Monday inked seven pacts, including one to enhance cooperation in the strategic oil sector, as they called for "freedom" of navigation in the South China Sea, a remark which could irk China, which has been claiming territorial sovereignty over the high seas.
Trade sanctions on Russia by Europe and the US offer an opportunity for India, but the devaluation of the rouble may play spoilsport
© 2026 Rediff.com - Investor Information - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances