The commerce secretaries of the two sides are meeting in Islamabad on April 27-28 to renew trade ties between the two countries.
The govt has directed RIL to divert gas from KG-D6 block to meet the demand of priority consumers, suffering a pro-rata fuel supply cut after the block's output dropped.
The petroleum ministry has demanded a portion of the Rs. 1,81,000 crore collected as taxes from the oil sector as compensation for state-run oil cos.
The government's approval to the $9.6-billion Cairn-Vedanta deal, expected on Wednesday, will be subject to the LSE-listed Vedanta passing the home ministry's security scanner.
The oil ministry has thrown its weight behind ONGC and told the Cabinet that asking Cairn to accept the state firm's views on royalty and withdrawing litigation on cess were "reasonable"
Net profit next fiscal is seen at Rs 8,900 crore due to a surge in crude prices and a 40% increase in output.
State-run ONGC's plan to extract coal bed methane appears to have hit a bump with five of its nine blocks proving to be commercially unviable.
Cairn appears to have turned the tables on partner Oil and Natural Gas Corporation in their joint venture in the Krishna Godavari basin.
The regulator's move aims to promote competition in gas transportation sector which is expected to grow fast after RIL tied-up with BP to source and market natural gas.
Industry persons close to Cairn and Vedanta say that the two companies want a solution which would not affect the valuation of the deal.
- No blogs yet have been written by the author, we’re sure the author will contribute one soon