ONGC Videsh Ltd, BPCL and HPCL will invest USD 20 billion in constructing a gas liquefaction and export terminal in Mozambique.
Net oil price realization per barrel improved to $68.19 from $55.19 in the previous year, though the fourth quarter realization was at $64.27.
India's top oil and gas producer reported a 34 per cent jump its in 2018-19 fiscal net profit to Rs 26,716 crore.
Operations at Paradip port in Odisha and Visakhapatnam in Andhra Pradesh have been shut and ships have been ordered to move out to sea to avoid damage.
As for its fleet, a majority of its choppers have been operating for over 30 years and incur a very high maintenance cost.
The CPM has urged the Central government to take steps to scrap the hydrocarbon project in the Delta districts.
Sources said HPCL has not yet come up with a concrete proposal for acquiring MRPL and has been talking about the deal mostly through the Oil Ministry and the media.
Besides, the railways, the country’s largest employer, will be hiring around 1.27 lakh people in 2019.
The PMK has condemned the Union Environment and Forest department for granting permission for a study to be conducted to identify the hydrocarbon resources at 40 locations in Cuddalore and Nagapattina
After completion, scheme will help irrigate hundreds of acres of land, say officials
While ecologists express concerns over environmental impacts, companies said that all safeguards will be taken.
IOC said that its board at a meeting on Tuesday approved the payment of Rs 1.50 per share of 15 per cent in a second interim dividend for 2018-19 to its shareholders.
Though ONGC themselves opposed the idea of sale, some in government were not convinced by the incremental potential toyed to get the proposal through.
Though Indian Oil is said to take a decision following a board meeting, ONGC has declined saying it does not have surplus cash to make such payments.
On the occasion, Petroleum Minister Dharmendra Pradhan said DSF bid rounds are aimed at raising domestic production to cut dependence on imported oil.