Aiyar had alleged that ONGC and its billionaire partner Lakshmi N Mittal's $3.98 billion bid was the highest when the bids for PetroKazakhstan closed on August 19, 2005. But Goldman allowed China National Petroleum Corp (CNPC) to revise its bid to $4.18 billion in the following days and the sale was announced before office hours on August 22.Goldman did not allow ONGC-Mittal to revise its bid for PetroKazakhstan.
he had alleged then.Reliance resumes oil output from east coastNEW DELHI (Reuters) - Reliance Industries Ltd (RELIANCE.NS : 1202 +48.65) resumed crude oil production from its east coast MA-1 field on March 8 following an emergency shutdown in December, Upstream Regulator V.K. Sibal said on Thursday. "They have informed us that crude oil production has began from March 8.
They have connected the third well also, so in next two days it will be about 20,000 bpd," Sibal told Reuters. Reliance had stopped oil production from its Krishna Godavari block in December after an emergency shutdown of its floating production, storage and offloading (FPSO) system. Reliance began producing oil from the block in mid-September and was producing about 10,000 barrels per day (bpd) of oil from two wells before the shutdown.
Reliance owns 90 percent of the D-6 block, while Canada's Niko Resources has the rest. The Indian firm sold the first 450,000 bpd cargo from the block to Hindustan Petroleum Corp's Vizag refinery at a discount of $5.34 a barrel to Nigerian grade Bonny Light. this is how ongc works during the work time hours of the day ..this is the largest company of india............
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