Reliance Industries Ltd., sitting on untapped natural gas reserves off India’s east coast, will be able to generate profit from new fields if the government agrees to double prices, a person familiar with the matter said.
Oil & Natural Gas Corp. , India’s biggest explorer, says it should be allowed to recover 140 billion rupees ($3 billion) payable as royalty for partner Cairn India Ltd. , which Vedanta Resources Plc seeks to buy.
Oil & Natural Gas Corp. , India’s biggest energy exploration company, will protect its interests following Vedanta Resources Plc’s plan to acquire a majority stake in Cairn India Ltd., without submitting a competing bid.
Oil & Natural Gas Corp. , India’s biggest explorer, rose the most in a year after Chairman R.S. Sharma said higher gas prices will add 50 billion rupees ($1 billion) in revenue and curb losses from its aging fields.
NTPC Ltd., India’s biggest power producer, said full-year profit rose a provisional 5.6 percent, the slowest pace in four years, after missing its target of adding generation capacity. The shares declined.
Oil & Natural Gas Corp. , India’s biggest energy exploration company, may consider bidding jointly with Vietnam Oil & Gas Group for partner BP Plc ’s stake in a natural gas field in Vietnam to secure fuel supplies.