Reliance Industries penalised for producing less than targeted natural gas from its KG-D6 block,
The current rate of USD 4.2 per million thermal units will continue till September end.
ONGC Videsh, the overseas subsidiary of ONGC, is keen to explore blocks in the Arctic, which are in the exploration stage.
Cement, electricity sectors post healthy growth during the month.
Sources said RIL provided the bank guarantee even though the Election Commission had asked the government to defer implementing the new rate.
The core sector comprises 38 per cent of the index of industrial production (IIP). The index had grown an abysmal 0.1 per cent during January.
Former CJ of New South Wales appointed as the third and final arbitrator for Reliance natural gas dispute.
He also asked Modi to clarify the source of funds for his campaign and the relations his party shares with Ambani.
New challenges, opportunities are emerging in the global energy landscape.
The core sector had grown 1.7 per cent during November.
Centre has in past, too, resorted to such block deals to shore up its revenues. In late 1990s, government had sold shares in ONGC, GAIL and IOC to raise Rs 4,643 crore
Economists see revival,caution mild activity going forward.
Poor performance of natural gas,petroleum refinery products,fertiliser pulled down India’s infrastructure growth.
Citing special constitutional powers,state shortlists companies for oil exploration,ignores ministry questions on moves validity.
Natural gas producers can’t be allowed to reap unlimited gains,says FinMin after FM P. Chidambaram OKs step.