Similarly, the broader NSE Nifty rose 97.20 points or 0.73 per cent to an all-time closing high of 13,355.75. It touched its record intra-day peak of 13,366.65 in early trade.
Oil Minister Dharmendra Pradhan said with the latest bid round, the government has in the last four years awarded 1.56 lakh square kilometre of acreage for finding and producing oil and gas.
Standalone net profit at Rs 2,878 crore in July-September quarter was 54.6 per cent lower than Rs 6,336 crore net profit a year ago, the company said in a statement
The 15-year Production Enhancement Contract (PEC) will require firms to commit to investing in capital and operating expenditure to increase production, higher than the existing baseline output
The 30-share BSE index was trading 365.19 points or 0.91 per cent lower at 39,557.27. Similarly, the broader NSE Nifty tumbled 106.90 points or 0.91 per cent to 11,622.70.
The government had offered 11 blocks for exploration and production of oil and gas in the fifth bid round under the Open Acreage Licensing Policy (OLAP). A total of 12 bids seven bids by Oil and Natural Gas Corp (ONGC)
Sources said that the process of merging ONGC's two oil refining subsidiaries, HPCL and MRPL, will be started immediately after the company completes merging ONGC Mangalore Petrochemical Ltd (OMPL)
