The government is going to monitor oilfields of ONGC and Oil India and ordered setting up separate committees led by a bureaucrat for supervision as part of its broader plan to make these firms more accountable and boost output from their ageing fields that contribute 70% of India’s crude output.
Prime Minister Narendra Modi and Russian President Vladimir Putin meet today for an annual summit the highlight of which is expected to be the signing of an agreement to build the last two units of the Kundankulam nuclear power plant with Moscow’s help.
The government is going to monitor oilfields of ONGCBSE -0.73 % and Oil IndiaBSE -2.09 % and ordered setting up separate committees led by a bureaucrat for supervision as part of its broader plan to make these firms more accountable and boost output from their ageing fields that contribute 70% of India’s crude output.
State oil companies have raised prices of petrol by Rs 1.23 per litre and of diesel by 89 paise per litre.
State-run miner Coal India has rechristened its sales and marketing wing as ‘Marketing and Sales’ department in order to give more stress on marketing of the fossil fuel.
GST will have a temporary setback but it won’t hurt beyond a level, said MS Unnikrishnan, MD & CEO, Thermax to ET Now.
State-owned Indian Oil Corp (IOC) and its partners are in talks to buy 49 per cent stake in Russia’s Vankor cluster oilfields to consolidate their presence in the energy-rich Arctic region.
Indian Railways is working on a plan to increase annual sales of Rail Neer, the national transporter’s packaged drinking water brand, to Rs 600 crore from the present sales of Rs 150 crore in next three years and make it among the top packaged drinking water brands revenue-wise.
Engie, the French power giant with a global installed capacity of 115.3 gigawatts across all forms of energy, expects to invest a minimum of $1 billion (about 6,500 crore) in the solar segment in India over the next five years.
Iran has threatened to rope in Russian oil companies for developing the Farzad B gas field, replacing the consortium of Indian state-run entities that discovered it.