(LiveMint) The government has asked its biggest state-owned firm Oil and Natural Gas Corp. Ltd (ONGC) to list its overseas unit ONGC Videsh Ltd, according to a letter seen by Reuters. The move to float the unit—which has investments in 11 producing assets in countries including Russia, Brazil and Iran—is part of a government push to sell state-assets to raise funds. A listing would also help unlock value in the unit by improving its corporate governance and efficiency, the letter from the Department of Investment and Public Asset Management to ONGC said. The letter, sent last week, did not state how…
Author: Amit Bhanot
(PTI) The Amarnath Yatra was suspended from Jammu today due to non-availability of adequate number of pilgrims, officials said, adding that it may be resumed depending on the arrival of pilgrims at the base camp. However, the Budha Amarnath Yatra went smoothly with the fifth batch of 449 devotees leaving Bhagwati Nagar base camp for the mountainous shrine of Lord Shiva in Poonch district, they said. Yesterday, the smallest batch of 43 pilgrims left the base camp for Kashmir to undertake the annual yatra to the 3,880 metre-high holy cave shrine of Amarnath in south Kashmir Himalayas. “No devotee arrived for the…
(PTI) The United Forum of Reserve Bank Officers and Employees today said its members will go on mass casual leave on September 4 and 5, pressing their long-pending demands over pension related issues. According to a press release, United Forum today held a silent demonstration near the RBI office here which witnessed the participation of various leaders. “To express deep resentment at the attitude of the officials of the Government of India, RBI staff members have waited too long and the limit of patience is crossing and are left with no alternative but to observe two consecutive days strike action…
(PTI) No ATM will be replenished with cash after 9 pm in cities and 6 pm in rural areas from next year even as two armed guards will accompany crisp notes in transit as per a new directive issued by the Home Ministry. The deadline for putting money in the ATMs located in Naxal-hit areas is 4 pm while private cash handling agencies must collect money from the banks in the first half of the day and transport notes only in armoured vehicles. In a notification, the Home Ministry said the new Standard Operating Procedures (SoPs) would come into effect from…
(BS) India’s Bharat Petroleum Corp Ltd will keep a secondary unit at its 120,000 barrels-per-day (bpd) Mumbai refinery offline for at least two months following a fire last week, two industry sources said on Friday. When contacted, a BPCL spokesman could not immediately confirm the duration of the shutdown, saying that a decision will be made in one to two days. The middle distillates-making unit, a 6,000-tonnes per day (tpy) hydrocracker, was shut since August 8 following a fire that left 40 people injured. Middle distillates are namely, gasoil and jet fuel/kerosene. “The hydrocracker is expected to be shut for two to three months but BPCL is unlikely to import gasoil…
(PTI) Sudan has asked ONGCNSE -0.85 % Videsh Ltd to withdraw its case against the African nation in an international arbitration court for recovery of over USD 400 million in unpaid oil dues, saying it is making efforts to mitigate the default. OVL, the overseas investment arm of state-owned Oil and Natural Gas Corp (ONGC), however, wants to continue with the arbitration while the two sides work out a suitable mechanism to resolve the issue, the company said in a statement here. OVL had earlier this year dragged the government of Sudan to a London court to recover dues pending since…
(FE) Relaunched in 2015 in a new avatar by Prime Minister Narendra Modi, Atal Pension Yojana (APY), the monthly pension scheme of the government, has now over 1 crore subscribers, of which 40% are women. In a written reply to a question in the Lok Sabha, the Finance Ministry said that the number of subscribers under APY as on August 6, 2018 was 1,09,66,981, out of which, 43,87,993 subscribers are women. Under this scheme, any Indian citizen, in the age group of 18 to 40 years is eligible for a monthly pension at the age of 60. The monthly pension could be Rs 1,000…
(LiveMint) The government on Friday allowed import of petcoke for use as feedstock in some industries, sending shares of cement manufacturers higher. Cement companies, which account for about three-fourths of the country’s petcoke use, were impacted by petcoke-related policy flip-flops, which began with a Supreme Court judgment banning use of the fuel in and around New Delhi last year. The Directorate General of Foreign Trade banned the use of imported petcoke as fuel, but said shipments for use as feedstock in certain industries were allowed. “Import of Petcoke is allowed for only cement, lime kiln, calcium carbide and gasification industries, when…
(AU) देश के पूर्व प्रधानमंत्री और भारत रत्न अटल बिहारी वाजपेयी को अाज स्मृति स्थल पर उनकी दत्तक पुत्री नमिता ने मुखाग्नि दी। अटल जी के अंतिम संस्कार के समय प्रधानमंत्री नरेंद्र मोदी, कैबिनेट के मंत्री, भाजपा अध्यक्ष अमित शाह समेत बड़ी संख्या में लोग उपस्थित थे। इससे पहले सेना की एक विशेष गाड़ी पर वाजपेयी की अंतिम यात्रा निकाली गई। तीनों सेनाओं की एक संयुक्त टुकड़ी उनके पार्थिव शरीर को लेकर निकली। अंतिम यात्रा में हजारों की संख्या में लोग अटल बिहारी अमर रहे की नारा लगाते हुए चल रहे थे। अटल बिहारी वाजपेयी की अंतिम यात्रा स्मृति स्थल पहुंची।
After a successful campaign in Common Wealth Games, the sports persons of Oil and Natural Gas Corporation (ONGC) are eying at Asian Games to scale new heights. ONGC is proud to have one of the largest contingents of athletes at Asian Games being held over 18th August to 2nd September 2018 at Jakarta. Thirty-eight ONGC sports persons- nineteen regular employees from various disciplines and an equal number of athletes on scholarship shall be participating in the Games. Importantly, the women athletes comprise 50% of the total contingent, which is testimony to ONGC’s constant drive to promote gender equality. Mr Shashi Shanker, CMD,…