The Gulf state's highest energy decision-making body, the Supreme Petroleum Council (SPC), said the new discoveries included seven billion barrels of crude oil and 58 trillion cubic feet of natural gas.
Both main contracts tumbled around five percent on Monday and yesterday after Iran said at the weekend it would not join the talks until its production had hit 4.0 million barrels per day.
The rating agency estimates crude oil prices to average USD 33 per barrel in 2016, USD 10 lower than its previous estimate and expects rates rising by USD 5 a barrel each in 2017 and 2018.
Mukesh Ambani-led Reliance Industries leads the pack of 56 Indian companies in the 2015 Forbes 'Global 2000' list.
With nearly 1,000 km-long coast line, the coastal Andhra has major private ports such as Krishnapatnam, Kakinada and Gangavaram, besides state-owned Vizag Port and can continue to reap rich harvest by way of export and import of commodities such as iron ore and coal.
Sudarshan Sukhani of s2analytics.com is of the view that one can buy ONGC, Bharti Airtel, HDFC and Wipro.
Oil and natural gas major ONGC has finalised a Rs 8,000 crore surface facility revamping programme for its three onshore assets in Gujarat, a top company official has said.
Ahead of an Empowered Group of Ministers (EGoM) to decide how much stake the government should divest in Bharat Heavy Electricals (BHEL) and Oil and Natural gas (ONGC) and by which options, CNBC-TV18 has learnt that they are likely to consider sale of shares via the auction route.
UK-based Barclays Bank will hire about 20 people for its newly launched equities business in India over the next couple of months.
Reports suggest that the SAIL FPO is a tad delayed. Defending the company its chairman CS Verma said that pre-marketing road shows had only been rescheduled at a few places. "The board has cleared red hearing prospectus for the FPO," he stated.
State-run Power Finance Corporation will launch its share sale on May 10, four sources with direct knowledge of the matter said, marking a deal that could raise up to USD 1.2 billion in the largest Indian equity issue this year.
Oil Secretary S. Sundareshan said on Friday a leakage in a pipeline of state-run oil explorer Oil and Natural Gas Corp. (ONGC) will be plugged soon.
State-run Indian Oil Corp's share sale will be delayed to the next financial year beginning on April 1, Oil Secretary S Sundareshan said on Monday.