Month: July 2009

BGR Energy secures $80.5 mn worth of contract from SCOP

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BGR Energy Systems has announced that the State Company for Oil Projects (SCOP), Ministry of Oil, Iraq, has increased the value of the contract it placed in the Oil and Gas Equipment division of the company from $76.6 million to $80.5 million. In October 2006, SCOP had awarded a lump-sum turnkey contract worth of $76.60 million to … Read more BGR Energy secures $80.5 mn worth of contract from SCOP

ONGC halts development of six discoveries

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Owing to lack of proper infrastructure set up, state-run exploration and production (E&P) major Oil and Natural Gas Corporation (ONGC) has only shelved out development of six prospective discoveries made in recent years in the backward regions. ONGC has discoveries under its belt like Karjan, Linch and Mekrang lying in areas where no infrastructure is … Read more ONGC halts development of six discoveries

Reliance Industry Sales + Profits Slip – GRMS Down – Bad performance

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Reliance Industries Limitd, has reported 4th successive bad quarterly results with both Sales and net profits slipping and are no where near street expectations. The Company has posted a net profit after tax of Rs 36360 million for the quarter ended June 30, 2009 as compared to Rs 41100 million for the quarter ended June … Read more Reliance Industry Sales + Profits Slip – GRMS Down – Bad performance

L&T Finance plans to enter the mutual fund + insurance biz

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L&T Finance (LTF), part of engineering major Larsen & Toubro, plans to enter the asset management and insurance segments in a time frame of 12-18 months. According to the company, LTF is aggressively working on the foray into these segments. Presently, LTF is one of the players in vehicle financing segment in India, with total … Read more L&T Finance plans to enter the mutual fund + insurance biz