OIL Chairman and MD Sushil Chandra Mishra said it has started taking action against employees responsible for the mishap, which has killed three persons
The nearby Abraq at-Tulul field has started producing 3,000 barrels a day of crude, 49,000 barrels of condensates and 1.1 million cubic feet of gas
Well number 5 at Baghjan has been spewing gas uncontrollably for the last 66 days since May 27 and it caught fire on June 9, killing two of OIL's firefighters at the site
Plan is to unbundle GAIL into two firms --- one for gas transmission, other for marketing; Ernst and Young appointed consultant
Duganta Oil and Gas Pvt Ltd made four bids, while Orissa Stevedores Ltd, Priserve Infrastructure Pvt Ltd and Udayan Oil Solutions made three bids each.
Billionaire Mukesh Ambani's Reliance Industries is India's answer to US giants Exxon, AT&T and Amazon - all rolled into one, Bernstein Research said on Tuesday. "Reliance has disrupted the energy and telecoms industry in India and is on the cusp of doing the same to retail, fintech, and media," it said in a report adding the company has an enviable track record of innovation and execution. For the oil-to-telecom conglomerate, energy remains core business and is expected to further expand as India is forecast to be the fastest-growing market for fuel and chemical products over the next decade, it said adding the company's partnership with BP of the UK and Saudi Aramco will support this. Reliance owns the world's largest single-site oil refining complex and has multiple petrochemical plants. Three years back it forayed into telecom business and has reached 34 per cent share of market revenue. "Based on the current net add run-rates it will likely reach 44 per cent share by the end ..
The company, beginning mid-2020, will bring to production three sets of new discoveries in the block that will reverse the years of decline in production
The plan to carve the pipelines business into a fully-owned unit will bring greater transparency between the two businesses and may allow govt to sell shares at a later date
ONGC will buy GSPC's entire 80 per cent stake in the block
Bidding for the auction, the first in over four years, is to close on October 31