In the next few months, state-run energy explorer Oil India (OIL) may set up a foreign arm for exploration and acquisition of hydrocarbon assets abroad, thereby becoming the third state-run oil company to have a dedicated subsidiary for foreign operations. OIL now has presence in countries like Sudan, Libya, Venezuela, Egypt, Timor Leste, Yemen, Nigeria, Iran, the US and Gabon. In Gabon and Libya, it is the main operator of its blocks
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HSR Needs Fast Tracking
RECPDCL Handovers Ratle Kiru Power Transmission Limited, a SPV of Transmission Project, to IndiGrid 2 Private Limited
RECPDCL Handovers 3 Nos. SPVs of transmission projects viz. Banaskantha Transco Limited, Kurnool-IV Transmission Limited & Rajasthan V Power Transmission Limited to Power Grid Corporation of India Limited
Showcasing India’s Supply Chain Revolution
Highlighting the Future of Smart, Sustainable Infra
Driving Sustainability Through Innovation
REC Signs ₹18,360 Cr MoU with Govt. of Kerala for Pump Storage Projects
IIFCL Launches its Gender Equality and Social Inclusion (GESI) Cell on the occasion of International Women’s Day 2025.
IIFCL and CBI Sign Expression of Interest to promote Sustainable Infrastructure Financing in India
CCI India presents 1st edition of CEO Round Table Conference on Agriculture
Jayesh Ranjan & Cement Expo Forum Leaders converge in Hyderabad
Fluence Launches Advanced Smartstack Platform for New Energy Storage Era
NBCC inks MoU with NIT Kurukshetra valuing Rs. 300 Crore
REC Foundation Commits ₹6 Crore to Sankara Eye Hospital for Cataract Surgeries Benefiting 8,000 EWS Patients
Integrated Exhibition Cum Convention Centre (IECC), better known as Bharat Mandapam, achieves prestigious GRIHA 4-Star Rating
REC Limited Signs Agreement with CVPPL, to provide ₹2147.508 Crore Term Loan to Develop 1000MW Pakal Dul Hydro Electric Project
NBCC Reports Robust 40% Surge in Net Profit
The time to invest in India’s energy sector is now, says PM Modi
India’s Oil Minister Urges Energy Justice to Ensure Equitable Global Energy Transition
Minister highlights potential of technology in upstream sector
Union Petroleum Minister M Veerappa Moily said technology and capital intensive interventions have the potential to give new lease of life to the matured fields and improving recovery factor. He said this while making the inaugural address at the third IEF NOC-IOC Forum. Even from producing fields, India's recovery factor is in the range of 25-33 percent whereas fields in North Sea or in Gulf of Mexico of same vintage have recovery fact
PSU banks may benefit from falling yield on govt bonds
During April-June 2013, public sector banks may earn Rs 5,000 crore to Rs 7,000 crore owing to treasury gains as yield on government securities have declined by 60 basis points during April and May this year. This estimate on the treasury gains of state-run banks was given by Icra in a recent research report. The report noted that yield of government securities has fallen in the last two months and this will improve earnings of public
GMR confident of servicing debt
Media reports indicate that GMR Infrastructure does not face problem on servicing its debt as the firm feels most of the debt has been ring-fenced over the cash flow of specific projects. In 2012-13, the company paid Rs 608 crore as interest charges, higher than 31 per cent from the previous year. As of end-2013, the firm had a net debt of Rs 33,700 crore, up 15 per cent from the previous finan
RIL to invest Rs 1.5 trillion in 3 yrs
At its 39th annual general meeting (AGM) in Mumbai, Mukesh Ambani, Chairman of Reliance Industries (RIL) informed that the firm plans to invest Rs 1.5 lakh crore over the next three years. He remarked that the firm is investing the largest capital in India by any enterprise public or private, Indian or foreign and this is an expression of the faith of Relia
Banks take steps to recover bad loans
Media reports indicate that several public sector banks (PSBs) are taking steps to recover loan amount from defaulting corporate borrowers by publishing their names and thereby denting their image. This move by state-run banks is a remarkable shift from their traditional approach of going soft with defaulting borrowers
Tighter provisioning norms may hit banks’ margins
Following the tightening of norms on provisioning for restructured loans by Reserve Bank of India (RBI), banks might have to set aside Rs 1,500-2,500 crore as provisions in 2013-14 for their existing recast loan book. Ratings agency Icra said this in a report. Recently, the central bank said banks have to raise provisioning for the existing stock of restructured assets to 5 per cent in a phased manner over three years from the
Offshore oil and gas blocks hold great potential in India
Industry players opine that India's offshore exploration sector holds tremendous potential in terms of oil and gas reserves. According to SK Srivastava, Chairman of Oil India (OIL), offshore exploration will play an increasing role in India's efforts to source crude oil domestically. Of the domestic crude oil output of 38 million ton, the offshore sector accounts for 21 million ton, followed by 1
Anadarko may seek bids from more players
Anadarko Petroleum and Videocon Industries, who want to dilute 20 percent of their holding in a natural gas block in Mozambique, may seek expression of interest from some more players, reports indicate. A consortium of ONGC and OIL has reportedly offered over $5 billion for the 20 percent stake. How
GMR to cut debt via sale of road assets
In order to reduce its debt, GMR Infrastructure is in the process of offloading stake in some of its toll road projects. The company is reportedly in talks with potential investors such as Morgan Stanley Infrastructure Fund, Citigroup Venture Capital, SBI Macquarie and ICICI Venture to raise about Rs 1,800 crore through the stake sale