Gspc

Citing a Reserve Bank of India (RBI) notification, senior Congress leader Jairam Ramesh on Monday said that the State Bank of India should declare Gujarat State Petroleum Corporation (GSPC) as bankrupt by 5 pm.

ONGC will make payments to GSPC "on fulfilment of certain conditions precedent," it said without elaborating.

ONGC last year agreed to buy Gujarat State Petroleum Corporation's (GSPC) 80 per cent interest in the KG-OSN-2001/3 block, which sits next to the state-owned firm's KG-DWN-98/2 or KG-D5 block.

GSPC first offered its 50 per cent stake in the project to state refiner Indian Oil Corporation (IOC).

The company will close the deal and pay the Gujarat State Petroleum Corporation (GSPC) the money after regulatory approvals like government nod for transfer of PI (participating interest).

ONGC said it will acquire 80 per cent stake in debt-laden Gujarat State Petrochemicals Corporation's KG basin gas block for $995.26 million.

The five-million-tonnes-a-year import terminal is nearing completion and GSPC is keen to exit the project completely.

The memorandum of understanding signed last week has a dispute resolution mechanism set out wherein any differences over issues like valuation or natural gas reserves would be referred to a three-member committee of outside experts.

State-owned Oil and Natural Gas Corp's board has approved signing of a preliminary agreement for buying stake in Gujarat Petroleum Corp Ltd's KG basin gas block.

State-owned Oil and Natural Gas Corp (ONGC) on Thursday said it is in talks to buy a stake in GSPC's KG basin block and has hired US-based consultant Ryder Scott to assess natural gas reserves.

During the time when PM Modi was Chief Minister of Gujarat, a grandiose announcement that his Gujarat State Petroleum Corporation (GSPC) had made the largest gas discovery - some 20 trillion cubic feet off-shore the Krishna-Godavari delta was made.

State-owned Oil and Natural Gas Corporation (ONGC) is mulling buying a majority stake in Gujarat State Petroleum Corp's Krishna Godavari basin gas block which will help prevent the Gujarat government firm's loan worth Rs 19,500 crore from turning into a non-performing asset (NPA).

Gujarat State Petroleum Corp (GSPC) on Monday said it is in talks with the country's top explorer Oil and Natural Gas Corp (ONGC) on selling a stake in its gas block off the east coast, to revive the challenging deep water field.

The GSPC saga is one of a company that claimed to solve India's energy problems in 2005 only to borrow a staggering 20,000 crores with absolutely nothing to show for it in 2016.

Gujarat State Petroleum Corp (GSPC) has cancelled a tender to purchase 12 liquefied natural gas (LNG) cargoes for delivery in 2016-17, two trade sources said.

Citing a Reserve Bank of India (RBI) notification, senior Congress leader Jairam Ramesh on Monday said that the State Bank of India should declare Gujarat State Petroleum Corporation (GSPC) as bankrupt by 5 pm.

ONGC will make payments to GSPC "on fulfilment of certain conditions precedent," it said without elaborating.

ONGC last year agreed to buy Gujarat State Petroleum Corporation's (GSPC) 80 per cent interest in the KG-OSN-2001/3 block, which sits next to the state-owned firm's KG-DWN-98/2 or KG-D5 block.

GSPC first offered its 50 per cent stake in the project to state refiner Indian Oil Corporation (IOC).

The company will close the deal and pay the Gujarat State Petroleum Corporation (GSPC) the money after regulatory approvals like government nod for transfer of PI (participating interest).

ONGC said it will acquire 80 per cent stake in debt-laden Gujarat State Petrochemicals Corporation's KG basin gas block for $995.26 million.

The five-million-tonnes-a-year import terminal is nearing completion and GSPC is keen to exit the project completely.

The memorandum of understanding signed last week has a dispute resolution mechanism set out wherein any differences over issues like valuation or natural gas reserves would be referred to a three-member committee of outside experts.

State-owned Oil and Natural Gas Corp's board has approved signing of a preliminary agreement for buying stake in Gujarat Petroleum Corp Ltd's KG basin gas block.

State-owned Oil and Natural Gas Corp (ONGC) on Thursday said it is in talks to buy a stake in GSPC's KG basin block and has hired US-based consultant Ryder Scott to assess natural gas reserves.

During the time when PM Modi was Chief Minister of Gujarat, a grandiose announcement that his Gujarat State Petroleum Corporation (GSPC) had made the largest gas discovery - some 20 trillion cubic feet off-shore the Krishna-Godavari delta was made.

State-owned Oil and Natural Gas Corporation (ONGC) is mulling buying a majority stake in Gujarat State Petroleum Corp's Krishna Godavari basin gas block which will help prevent the Gujarat government firm's loan worth Rs 19,500 crore from turning into a non-performing asset (NPA).

Gujarat State Petroleum Corp (GSPC) on Monday said it is in talks with the country's top explorer Oil and Natural Gas Corp (ONGC) on selling a stake in its gas block off the east coast, to revive the challenging deep water field.

The GSPC saga is one of a company that claimed to solve India's energy problems in 2005 only to borrow a staggering 20,000 crores with absolutely nothing to show for it in 2016.

Gujarat State Petroleum Corp (GSPC) has cancelled a tender to purchase 12 liquefied natural gas (LNG) cargoes for delivery in 2016-17, two trade sources said.