»India s Crude Oil Production Slips 5% in November Due to Drop in Output at Rajasthan Oilfields
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India s Crude Oil Production Slips 5% in November Due to Drop in Output at Rajasthan Oilfields
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India is dependent on imports for 85 per cent of its needs and the government is pushing domestic explorers to raise output to help cut down imports.
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India s crude oil production fell by 5 per cent in November primarily due to a sharp drop in output at Rajasthan oilfields operated by private sector Cairn Vedanta, government data showed on Tuesday. India is dependent on imports for 85 per cent of its needs and the government is pushing domestic explorers to raise output to help cut down imports.
Oil and Gas stocks were trading with losses, with the S&P BSE Oil&Gas index falling 448.18 points or 3.11% at 13949.2 at 13:48 IST. Among the components of the S&P BSE Oil&Gas index, Oil & Natural Gas Corpn Ltd (down 5.76%), Indian Oil Corporation Ltd (down 4.74%),GAIL (India) Ltd (down 4.44%),Hindustan Petroleum Corporation Ltd (down 3.53%),Bharat Petroleum Corporation Ltd (down 3.27%), were the top losers. Among the other losers were Petronet LNG Ltd (down 2.68%), Gujarat State Petronet Ltd (down 2%), Castrol India Ltd (down 1.71%), and Indraprastha Gas Ltd (down 0.63%). On the other hand, Reliance Industries Ltd (up 0.33%), moved up.
At 13:48 IST, the S&P BSE Sensex was down 471.71 or 1% at 46488.98.
Astrological forecast for 2021
Mon, Dec 21 2020 19:48 IST |
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Astrological forecast for 2021.. Image Source: IANS News
A spate of astrological factors combined in late 2019 to unleash one of the gravest challenges faced by humanity in the form of the Covid pandemic. What began in December 2019 as a seemingly small viral infection in a remote location in China, slowly escalated into a major humanitarian crisis over the next few months, and by March 2020, it had spread like wildfire across the globe.
In astrological parlance, this phase coincided with an adverse solar eclipse that occurred in Sagittarius sign on December 26, 2019, which witnessed a rare conjunction of six planets in the same sign. Due to this planetary cocktail, three key planets - Ketu, (signifying virus and bacteria), Saturn (signifying mass epidemic and fear among public) and Jupiter (jeeva karaka or life force) were severely afflicted, which, in turn, sowed the seeds of coronavirus.
BPCL to take over Oman Oil’s stake in Bina
A proposal to approach the Madhya Pradesh government for acquiring 2.69 crore warrants held by it in BORL was also given the go-ahead.
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| A+A A- By Express News Service
NEW DELHI: Headed for privatisation, the Board of state-owned Bharat Petroleum Corporation Ltd (BPCL) on Thursday approved a proposal to buy Oman Oil Company’s stake in the Bina refinery project in the state of Madhya Pradesh.
BPCL holds 63.68 per cent stake in Bharat Oman Refineries Ltd (BORL), which built and operates a 7.8 million tonne oil refinery at Bina in MP. Oman Oil had recently expressed an interest to divest its stake in BORL. The JV had become a subsidiary of BPCL in March this year when it converted warrants into shares, taking the state-owned refiner’s stake in the erstwhile equal joint venture to 63.38 per cent.
Bharat Petroleum Corporation Ltd (BPCL) on Thursday said its board has approved buying out Oman Oil Company s stake in the Bina refinery project in Madhya Pradesh on mutually agreeable terms. The BPCL board at its meeting also approved merging Bharat Gas Resources Ltd (BGRL) with itself, the company said in a filing to the stock exchanges.
BPCL holds 63.68 percent stake in Bharat Oman Refineries Ltd (BORL), which built and operates a 7.8 million tonne oil refinery at Bina in Madhya Pradesh. The board accorded its approval for acquisition of 88.86 crore (39.62 percent) of equity shares in Bharat Oman Refineries Ltd from OQ S.A.O.C. (formerly known as Oman Oil Company) subject to finalisation of definitive agreement between parties, it said.