Sudhir Vasudeva, chairman and managing director of ONGC said the main reason for less profit was the subsidy burden.

Grant Thornton India sees dip in M&A activities

The third quarter of the year has turned out to be a weak quarter as far as the number and size of M&A deals are concerned.

Gas pricing should be market driven, say experts

There is an urgent need for reforms in the gas sector believe experts who say that natural gas pricing in India should be market driven and not determined by the government.

Oil PSUs under-recovery to lessen by Rs 20,000cr: BPCL

RK Singh, chairman and managing director of BPCL pointed out that post diesel price hike, under recoveries of public sector oil companies will now reduce by Rs 20,000 crore.

Market driven price for LPG will be Rs 747 in Delhi: IOC

PK Goyal, director - finance, IOC, says that the under recovery on diesel effectively will only be reduced by Rs 3.50 a litre.

Will meet year's target of 27.54 mmt: ONGC

Sudhir Vasudeva, chairman, ONGC explains to CNBC-TV18 that the PSU is hopeful of meeting its annual target of 27.54 mmt. Vasudeva says that the decision to hike diesel prices will be taken only in the second and third quarters when the position of the subsidy becomes clearer.

Under recovery won't fall despite low crude price: ONGC

However, it has nothing cheerful to offer for the oil and gas producer companies. Sudhir Vasudeva, Chairman, ONGC says that under recovery won‘t fall even though crude oil price have decreased.

What bailout? It was all part of the plan, says LIC Chmn

DK Mehrotra, chairman of Life Insurance Corporation (LIC) does not find anything wrong in the insurance giant's decision to pick up a lion‘s share in the ONGC share auction, which has led to substantial erosion in value of its investments thereafter.

To sue Coal India despite lower penalty in pact: TCI Fund

Chris Hohn, chief investment officer, The Children's Investment Fund told CNBC-TV18 that the CIL board‘s decision to sign the FSAs on zero penalty a “victory for the shareholders and the independent directors”

Don't regret setting ONGC floor price at premium: Govt

Siddharth Pradhan, additional secretary of the Department of Disinvestment, tells CNBC-TV18 that they do not regret setting the ONGC auction floor price at a premium.

Base price at Rs 280 would've saved the day: ONGC ex-chief

RS Sharma, former chairman of ONGC tells CNBC-TV18 that sentiment seems to have got adversely affected since the ONGC auction did not get fully subscribed. He reitrates that Rs 280 would have a perfect base price.

It is quick money to govt through ONGC auction: RS Sharma

Speaking to CNBC-TV18, RS Sharma, former chairman of ONGC says that the auction route is a disappointment for retail investors. “However, the government will get money in faster through auction than FPO or other modes,” he says.

Auction price low due to subsidy sharing woes: RS Sharma

RS Sharma, ex-chairman, ONGC tells CNBC-TV18 that the prevailing price for their auction is depressed because of the uncertainty on subsidy sharing formulation.

No communication from govt on buyback or crossholding: ONGC

ONGC's chairman, Sudhir Vasudeva, tells CNBC-TV18 that they have not received any communication from the government on buyback of shares or cross holding.

ONGC to support in doubling Cairn's capacity: Anil Agarwal

Anil Agarwal, Chairman of Vedanta Group is breathing a sigh of relief after16 months labour. Vedanta today finally acquired a controlling stake in Cairn India, 16 months after announcing this proposed transaction.

See higher subsidy burden in Q3 and Q4: ONGC

Oil and Natural Gas Corporation (ONGC) posted a net profit of Rs 8642.23 crore for the quarter ended September 30, 2011. In an interview to CNBC-TV18, Sudhir Vasudeva, chairman of ONGC says, he sees the subsidy burden rising in Q3 and Q4.

Platts' top 250 global energy cos list: Who gets what & why

Energy information provider Platts today came out with its top 250 global energy company rankings. Indian public sector coal major, Coal India took second rank in Platts' list.

Outlook for shipping industry may improve in 2012: SCI

S Hajra, chairman and managing director of Shipping Corporation of India (SCI) in an interview to CNBC-TV18 clarified that Shipping Ministry has not raised any concerns regarding SCI’s profitability.

High subsidy may impact profitability for ONGC: New chief

Sudhir Vasudeva, the new chairman of ONGC, joins CNBC-TV18 to opine on the way ahead for his company and the sector. He says that he is concerned about high subsidy hitting the company’s profitability.

GAIL subsidy burden likely to be Rs 2500-2600cr

There was a bit of cloud on oil marketing companies yesterday on news that there could be rethinking on the one-third subsidy sharing formula that the government has been working with.

Formal meet to decide future of ONGC FPO: Former Chairman

The much awaited ONGC FPO has come across another stumbling block. Reports suggest that the FPO has been pushed back by 15 days due to price mismatch. RS Sharma, Former Chairman of ONGC told exclusively to CNBC-TV18 that a formal meeting will be held today to decide whether to proceed with the offer.

CAG report on RIL highly damaging for India: RS Sharma

In an interview to CNBC-TV18, RS Sharma, former chairman of ONGC discusses the Comptroller and Auditor General's (CAG) final audit report on Reliance Industries (RIL).

L&T to evaluate stake sale in E&E unit: CFO

Indian engineering conglomerate Larsen & Toubro has appointed R Shankar Raman as its new chief financial officer. In an interview with CNBC-TV18’s Udayan Mukherjee and Mitali Mukherjee, Raman spoke about the latest happenings in the company and the road ahead.

ONGC FPO still in limbo, board to mull RHP: Hazarika

Just days after the Finance Minister admitted that market volatility had upset the government's disinvestment plans, ONGC's chairman and managing director AK Hazarika told CNBC-TV18 that the board would meet next week to mull filing a red herring prospectus (RHP) for the issue.

Upstream companies may bear 33% subsidy in Q1: ONGC

In an interview to CNBC-TV18, he said, "The government has taken a two-prong strategy by which they have also reduced their own revenue by reducing the duties of the various commodities as well as some of the burden have been passed onto the public by increasing the price of diesel, kerosene and LPG."