ONGC, Oil India Ltd to gain as Govt cuts windfall tax on crude oil
Upstream oil exploration and production companies ONGC and Oil India Ltd will benefit from the announcement as they have to pay the windfall tax on their crude oil output.
Upstream oil exploration and production companies ONGC and Oil India Ltd will benefit from the announcement as they have to pay the windfall tax on their crude oil output.
A delegation of the ONGC called on the Lieutenant Governor of Ladakh, Brigadier (Dr) BD Mishra (Retd), and brought to his notice about the challenging assignment.
The minister further said that he is not in favour of divestment of government stake in state-run oil companies. "Why would we divest ourselves of highly successful Maharatnas like BPCL," he said.
In separate filings, the IOC, HPCL, BPCL, GAIL, OIL and MRPL said they have been slapped with a fine of Rs 536,900 each for the fourth quarter. ONGC faced a fine of Rs 182,900.
The minister further said the government is not against the idea of holding a minority stake in key strategic public sector companies.
Union Minister of Petroleum and Natural Gas and Urban Affairs Hardeep Singh Puri will inaugurate the conference to be attended by over 100 experts from across India and other countries including the US, Norway and the European Central.
The Entrepreneurship Development Institute of India (EDII), a centre of excellence recognised by the government, announced that it would join hands with certain corporates to create 10,000 women-led green businesses across 100 districts in the country in 1,000 days.
Commercial exploration of Shale gas is all set to be a socio-economic game changer in the Durgapur-Asansol industrial region in the days to come.
India has in place such reciprocal logistics agreements with fellow Quad members the USA, Australia, and Japan (apart from a few other countries) but the one signed with Vietnam on Wednesday is arguably the most significant.
ONGC will address the challenges faced by the artisans and the art and handicraft forms, thereby improving the rural livelihoods associated with the handicrafts and handloom sectors.
