ONGC plans surge
Posted on 23rd May 2019 |
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| State owned ONGC is likely to spend about Rs 65,000 crore over the next three years to ramp up production and development of its fields, including those in the KG Basin. Production will be ramped up in 13 field development projects and three enhanced oil recovery/improved oil recovery (EOR/IOR) projects, a research report of Motilal Oswal said. “The 13 field development projects are expected to generate around 40.9 million tonnes (mt) of oil, 8.3 mt of condensate and about 105.5 billion cubic metres (bcm) of gas over the next three to four years, while the three IOR/EOR redevelopment projects will add around 13.7mt of oil and about 8.7bcm of gas,” the report said. The fields are showing encouraging results. “The initial production from KG-DWN-98/2 will be 4-5 million standard cubic metres per day (mscmd) with peak rate at 17mscmd,” the report said. “The company guides that its standalone total gas production may rise to around 43bcm by financial year 2021-22 from around 27.4bcm in FY19, primarily led by KGDWN-98/2,” the report said. The oil deposits in Cluster 2A hold estimated in-place reserves of 94.26mt of crude oil and 21.75bcm of associated gas, while Cluster 2B has estimated in-place reserves of free gas of 51.98bcm, officials said. |
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Bharti Airtel defers Q2 results till Nov 14 over ambiguity on AGR verdict
Posted on 29th October 2019 |
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Bharti Airtel said on Tuesday it has postponed its second-quarter earnings report to mid-November, as the wireless operator sought clarity on the court ruling asking telecom firms to cough up overdue payments to the government.
Shares of the company, which was expected to release its quarterly numbers later in the day, dropped 3.3 per cent in early trade. |
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Rupee slips 8 paise vs US dollar in early trade amid drop in oil prices
Posted on 7th October 2019 |
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The rupee on Monday opened eight paise lower at 70.96 against the US dollar amid drop in crude oil prices and rise in Asian equities. The domestic unit on Friday closed almost flat at 70.88 against after the Reserve Bank of India (RBI) in a widely expected move cut key interest rates by 0.25 percentage point. On a weekly basis, the local unit slumped by 32 paise. |
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LIC pips private insurers in first-year premium growth during April-August
Posted on 13th September 2019 |
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In the first five months of the current financial year, first-year premiums of life insurance companies grew by 39.84% (year-on-year) at Rs 1.05 lakh crore as compared to Rs 75,588.35 crore in April-August of 2018-19. Life Insurance Corporation of India (LIC) continued to grow at a faster pace compared to private insurance players, shows the data from the Insurance Regulatory and Development Authority of India (Irdai). |
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Apollo Hospitals rules out further stake sale
Posted on 13th September 2019 |
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Apollo Hospitals Enterprise (AHEL) has ruled out further dilution of promoters’ stake in the company. The company also said its Rs 1,337-crore stake sale of Apollo Munich Health Insurance with mortgage major HDFC will be concluded by October. Following these stake sales, the promoters’ pledged position will come down from a high of 76% to 54% by October and eventually to 20% by November or December, company sources said here. |
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World trusts India on Kashmir, not us: Pakistan minister Ijaz Ahmed Shah
Posted on 13th September 2019 |
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In a major embarrassment for Pakistan and its Prime Minister Imran Khan, the country's Interior Minister Ijaz Ahmed Shah, a retired brigadier, said the international community didn't believe Pakistan's narrative on Kashmir; instead it is India whose version is trusted. |
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