No proposal to acquire GSPC by ONGC

A non-binding MoU has been signed between ONGC and GSPC on October 4, 2016

GN Bureau | November 23, 2016


#ONGC   #GSPC   #MoU   #PSU  


There is no proposal to acquire Gujarat State Petroleum Corporation (GSPC) by Oil and Natural Gas Corporation Limited (ONGC), minister of state (I/C) for petroleum and natural gas Dharmendra Pradhan informed the Rajya Sabha in a written reply on Wednesday.

The minister, however, said that in one area, namely KG-OSN-2001/1, allotted to GSPC and its joint venture partners, GSPC has approached ONGC for framing out certain stake.

Towards this, a non-binding Memorandum of Understanding has been signed between ONGC and GSPC on October 4, 2016.

 

Comments

 

Other News

Cabinet approves Mobile Phone Manufacturing Scheme

The union cabinet chaired by PM Narendra Modi has approved the Mobile Phone Manufacturing Scheme (MPMS) with a budgetary outlay of Rs 62,500 crore. It aims to further scale up the production, deepen domestic value addition, strengthen supply chain resilience, enhance global competitiveness. It

Building infrastructure is only half the job

Recent stories of stolen railway wires, disappearing communication towers and missing public infrastructure are often treated as bizarre law-and-order failures of India. Yet they raise a more fundamental question. Why does the State often discover the disappearance of a public asset only after it has alrea

New Delhi’s Indo-Pacific strategy enters a new phase

India appears to be investing fresh dynamism in its Indo-Pacific strategy. At the time when the US, under president Donald Trump, has adopted a conciliatory approach towards China and has changed the name of America’s Indo-Pacific Command to just Pacific Command, India has quietly moved towards con

CAG flags major fiscal lapses in Maharashtra

Maharashtra`s fiscal management has come under sharp scrutiny after the Comptroller and Auditor General (CAG) of India, in its State Finances Audit Report for 2024-25, flagged significant budgetary inefficiencies, accounting irregularities, understatement of key fiscal indicators and widespread governanc

The health sector research we are not doing

Some neglect is loud. This kind is quiet. It sits in research never commissioned, data never collected, questions never asked. In South Asia, that quiet has let the region’s worst health problems stay understudied, underfunded, and out of sight of those who could act.  

Study flags accessibility and last-mile challenges on Mumbai Metro Aqua Line

Mumbai Metro Line 3 (Aqua Line), the city`s first fully underground metro corridor and one of its largest public transport investments, represents a major engineering achievement and has been widely welcomed by commuters. However, the overall commuter experience continues to be constrained by accessibili

Upcoming Conferences





Archives

Current Issue

Opinion

Facebook Twitter Google Plus Linkedin Subscribe Newsletter

Twitter