Even as global financial powerhouse Goldman Sachs has forecast a loss of $1 trillion for the global oil industry if the benchmark Brent crude oil price remains below $60 a barrel, Indian oil producers led by Oil and Natural Gas Corporation (ONGC),
Shares of state-owned companies Oil and Natural Gas Corporation (ONGC) and Coal India are trading higher by over 2% each on reports that the government has deferred plans for disinvestments in both these companies until January.
Indian oil companies like Oil and Natural Gas Corporation Limited (ONGC), Bharat Petroleum (BPCL), Oil India, and Reliance Industries are seeing the value of energy assets bought overseas in the last few years eroding with the decline in crude oil prices.
The fear of a judicial backlash against the government’s attempt to revive the Aadhaar-linked direct benefits transfer of LPG (DBTL) subsidy returned on Wednesday, with a division Bench of the Madras High Court issuing notices to the cabinet
Reliance Industries, Oil and Natural Gas Corporation (ONGC), Bharti Airtel, Tata Steel, Sesa Sterlite, Cairn India and Wipro are among 175 stocks that have hit a three-month low as the S&P BSE Sensex slipped over 1,000 points thus far in December.
ONGC Videsh Ltd (OVL), the foreign arm of state-owned petroleum explorer Oil and Natural Gas Corporation (ONGC), on Wednesday announced it has won an exploration block in New Zealand, marking the firm’s entry in 17 countries through 36 projects.
ONGC Videsh has won an Exploration Block- 14TAR-R1 in New Zealand. The Indian government owned company had submitted bid for the block located in the Taranaki offshore basin in October 2014 under a bidding round launched by the New Zealand government.
Solicitor General (SG) Ranjit Kumar, India’s second-highest law officer, is understood to have opined that Cairn India’s contract for the Rajasthan oilfield can be extended for any period up to five years.
Market regulator Securities and Exchange Board of India has found 22 public sector firms including Oil and Natural Gas Corporation, Coal India, and Indian Oil Corporation to have violated various capital-market guidelines.
The government’s ambitious disinvestment programme for 2014-15 kicked off on Friday with the sale of stake in Steel Authority of India Ltd (SAIL), through the offer-for-sale (OFS) route — barely three months before the financial year ends.