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.
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 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.