Little gas left at two ONGC blocks; fuel flows to RIL Posted on 3rd December 2015 |
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| There is a shadow on future production from the five discoveries of the government-controlled Oil and Natural Gas Corporation, after gas reportedly flowed from two of its blocks to the adjacent Reliance Industries units off the Andhra Pradesh coast. Dallas-based DeGoyler and MacNaughton (D&M), in a report submitted to the government on Tuesday, has put a question mark on the future production from the five ONGC discoveries. It has established continuity of the reservoir in three blocks of Reliance Industries and ONGC. Mukesh Ambani-promoted Reliance Industries could be in a tight spot if the government holds it responsible for movement of natural gas to its production facility from the ONGC-controlled acreage. It is now looking for a solution within the production-sharing contract. In its report, D&M said only 385 billion cubic feet natural gas could now be produced from ONGC's acreage, and this volume was possible only from Reliance Industries' facilities, since the pressure built-up - crucial to production - had fallen significantly, said a person who has seen the report. This could create a hitch in the early resolution of the gas row between two of India's largest oil companies. Delhi High Court had asked the government to resolve the issue within six months of submission of the report. ONGC had initially estimated 1.7 trillion cubic feet gas reserves in six discoveries in its two blocks that sit next to Reliance Industries' D6 block in the Krishna-Godavari basin off the Andhra Pradesh coast. |
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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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