(ET) Oil & Natural Gas Corp. could issue new shares, borrow or sell its 14% stake in Indian Oil Corp to fund the acquisition of Hindustan Petroleum, but a decision would hinge on the explorer’s investment plans and the government’s priorities, experts said. Selling its stake in IOC would be a smart switch of investments, said BK Namdeo, former director for refineries at HPCL. ONGC is only a passive investor in IOC, receiving dividend. ““But for a similar investment in HPCL, you get full control of the company,” he said. IOC has about 81 million tonnes of processing capacity, 26,200 petrol…
Author: Amitabh Kumar
(PTI) The Yogi Adityanath government today presented its first Rs 3,84,659.71 crore budget for 2017-18, making a special provision of Rs 36,000 crore to honour its poll promise of farm loan waiver through debt redemption. Presenting the budget in the Assembly, Finance Minister Rajesh Agarwal said the budget is 10.9 per cent higher than last fiscal’s and earmarks Rs 55,781.96 crore for new schemes. The farm loan waiver was a major promise in the BJP’s election manifesto and the fulfilment of the commitment was a big challenge before the Adityanath government, which has just completed 100 days in office. Chief Minister…
Shri Piyush Goyal, Minister of State (Independent Charge) of Power, Coal, New & Renewable Energy and Mines, today underlined the need to step up mineral exploration in the country that is currently constrained due to lack of private sector participation in the activity. He said this while inaugurating a conference on ‘Indian Mining Industry 2030 – Way Forward’, organized by FICCI jointly with the Ministry of Mines, Government of India. Shri Goyal said that the time was ripe to reflect on where we had gone wrong and suggested a PPP model could be tried out for giving a fillip to mineral exploration. He…
(FE) Investment in the oil and gas industry will see a tentative recovery in 2017 after an “unprecedented contraction” in 2016 and 2015 in face of stubbornly low energy prices, the International Energy Agency said in a report today. The IEA said upstream oil and gas investment — such as in exploration and production facilities — fell 26 per cent in 2016 in nominal terms to $434 billion, similar to the decline seen 2015. The IEA, an intergovernmental group set up to ensure the reliable supply of energy, released the report at the World Petroleum Congress in Istanbul, where energy bosses are…
(PTI) The Budget session of the Uttar Pradesh Assembly begins tomorrow with presentation of the BJP government’s first annual budget, even as opposition parties gear up to corner Chief Minister Yogi Adityanath on the law and order front and other issues. The session, which will conclude on July 28, is likely to witness fireworks with opposition Congress planning to raise the issue of crime and farmers’ problems. “From Agra to Kushinagar, farmers have committed suicide due to loan burden but the state government has failed to come out with a clear policy of loan waiver,” Congress Legislature Party Leader Ajay Pratap…
(FE) Amid heat over recent CBI raids, Rashtriya Janata Dal (RJD) has decided that Tejashwi Yadav will not resign from his post of Bihar Deputy Chief Minister. “We have decided that there is no question of Tejashwi Yadav vacating his post, instead his good works were discussed in the meeting,” Senior RJD leader Abdul Bari Siddique told reporters after a crucial meeting chaired by party chief Lalu Prasad Yadav. Attacking the Bharatiya Janata Party (BJP), the RJD said, “There has been an attempt to fade us, but it will not happen. We will emerge like we have always in the past…
(PTI) Sebi today said it is closely monitoring the situation at the National Stock Exchange (NSE) where trading was disrupted following technical issues. The exchange had stopped trading in cash as well as F&O (futures and options) segments while stock prices were also not getting updated. In a statement, Sebi said it is in touch with the NSE on the issue. “Sebi is in touch with the NSE and is closely monitoring the situation,” the regulator said in a statement. After addressing the technical glitch, the exchange resumed trading at 1230 hours. An NSE spokesperson said cash and F&O segments are functioning normally, but…
PM Shri Narendra Modi visits Yad Vashem Memorial in Jerusalem
(PTI) The Uttar Pradesh cabinet today approved the Industrial Investment and Employment Policy, 2017 to boost investments and employment opportunities in the state. A cabinet meeting, presided by Chief Minister Yogi Adityanath here, gave its assent to the new policy which aimed to “roll out a red carpet for the industries, instead of red- tapism” and facilitate the ease-of-doing-business, ministers Siddharth Nath Singh and Satish Mahana told reporters. Industrial Development Minister Mahana said the new policy was aptly named as the Industrial Investment and Employment Policy as it aimed to increase the job opportunities in the state. Besides a single-window system…
(AU) अचल कुमार ज्योति देश के अगले मुख्य चुनाव आयुक्त होंगे। राष्ट्रपति प्रणब मुखर्जी ने उनकी नियुक्ति को पहले ही मंजूरी दे दी थी। मौजूदा चुनाव आयुक्त नसीम जैदी का कार्यकाल 6 जुलाई को खत्म हो रहा और उसी दिन ज्योति पदभार ग्रहण करेंगे। कानून मंत्रालय ने भी उनकी नियुक्ति की आधिकारिक घोषणा कर दी है। गौरतलब है कि 64 साल के अचल कुमार ज्योति नरेंद्र मोदी की गुजरात सरकार में पूर्व प्रमुख सचिव रह चुके हैं। उनका कार्यकाल एक साल का होगा। ज्योति 1975 बैच के गुजरात काडर के आईएएस अधिकारी हैं। वो 22 साल की उम्र आईएएस बन गए थे। इसके बाद 2013 में…