Mining mogul Anil Agarwal-led Vedanta Ltd has made a strong case for the government to sell its majority stake in PSUs such as ONGC and Coal India or transfer their assets to private firms to cut the import bill by at least 25 per cent.
Permanent workforce employed by India’s state-run oil and gas companies has declined 13 per cent in the past 15 years through 2017 to 110,000, an analysis of oil ministry’s data on manpower strength of the sector’s Public Sector Undertakings (PSUs) shows.
State-run miner NMDC is likely to soon sign an MoU with Vietnam-based Masan Resources for a possible acquisition of a minority stake in a tungsten mine in the Southeast Asian nation, a top company official said today.
With GST resulting in a 10% decline in MRP prices for lubricants, Indian Oil Corp might see its lubricant division post $1.1 billion in revenues, almost the same that it earned in 2016-17.
Already hassled by the skyrocketing prices of petrol and diesel, citizens are likely to suffer one more jolt as the city will soon have to depend on fuel supply by trucks from Bhopal instead of the usual large railway wagons
State-owned Coal India will shut nearly 100 unprofitable mines over the next two-three years. Of these, 37 will close down operations this year.
Nalco’s stocks fell 7 percent in intraday trading on Thursday after the company reported a sharp decline in its quarterly profits, triggering share sell-off.
The Indian Railway PSU, Indian Railway Catering and Tourism Corporation Ltd (IRCTC) has decided to start two new circuits of their flagship luxury train Maharajas’ Express, this year.
Cash-rich coal, power and oil PSUs will jointly invest about Rs 30,000 crore to revive four mothballed fertiliser plants by 2020-21 to make India self- sufficient in urea production and cut imports.
The Cabinet has approved a policy that mandates state oil firms to prefer vendors meeting the local content targets in a move aimed at pushing ‘Make in India’ in the hydrocarbon sector.