Amid stagnating oil and gas production, state-owned ONGC is seeking partners to enhance oil and gas production from its 64 marginal nomination fields with the intention of maximising recovery from these fields by adopting new technology.
The oil explorer has come up with the notice inviting offer (NIO), which allows interested companies to participate in the international competitive bidding (ICB) process announced for 17 onshore contract areas comprising 64 oil- and gas- producing fields with total in-place oil and oil equivalent gas (O+OEG) volume of about 300 million metric tonnes of oil equivalent (Mmtoe).
"Companies, either alone or in consortium or joint ventures, may bid for one or more contract areas," said the offer document, adding that the bidders are required to fulfill the requisite technical and financial criteria and the bids would be evaluated on the basis of revenue sharing from the incremental oil and gas production.
ONGC will offer marketing and pricing freedom to sell oil and gas on arm's length basis through competitive basis and the contractor will be selected on a revenue sharing basis.
The revenue will be shared on incremental production over and above the baseline production under Business-As-Usual (BAU) scenario.
India a Haven for Aluminium Scrap Dumping
India overtook China as the preferred destination for aluminium scrap with imports growing 18.8% in the January-March 2019 quarter compared with the same quarter of 2018.
This, according to industry players, is hurting Indian industry and is the direct result of the trade war between China and the U.S.
India imported 3,34,725 tonnes of aluminium scrap in the January-March 2019 quarter compared with China's 3,30,567 tonnes in the same period, according to a report by S&P Global Platts. While India's imports grew 18.8% over this period, China's declined by 32.1%.
The U.S. had imposed an import duty of 10% on aluminium in March 2018 and in response, China had implemented a 25% duty on the import of aluminium scrap from the U.S.
Indusind Bank Pick Up Stake in Satin Creditcare
IndusInd Bank Ltd. picked up a 2.58 per cent stake in microfinance firm Satin Creditcare Network Ltd., by converting debentures which the private bank had subscribed earlier.
The stake purchase in Satin Creditcare, which was first announced in 2017, came day ahead the merger of Bharat Financial Inclusion with IndusInd Bank on July 4.
IndusInd Bank was 13,43,283 equity shares of Satin Creditcare, representing 2.58 per cent stake in the microfinance firm. These shares were allotted against 13,43,283 optionally convertible cumulative redeemable preferential shares which were allotted to IndusInd Bank in December 2017 at Rs. 335 each.
The stake in Satin Creditcare held by Trishashna Holdings & Investments, a promoter group company, also went up to 27.04 per cent, after allotment of 17,91,044 shares.
They were given against an equal amount of fully convertible warrants, which was allotted in December 2017 at Rs. 335 each.
To tap the growing demand for gaming PCs in the country, HP launched the world's first dual-screen gaming laptop, Omen X 2S, in India with a price tag of almost Rs. 2.1 lakh.
The dual-screen would allow players to message friends on WhatsApp, browse in Spotify, watch Twitch, YouTube, and serve as a hub for Omen Command Centre software.
It would also enable gamers to copy the map portion of a racing game to the second screen.
The Indian women's rugby team scripted history by clinching their first-ever international 15s victory against a higher-ranked Singapore 21-19 for a bronze medal in the Asia Women's Div-1 Rugby 15s championship in the Philippines.
Five members of the victorious squad, Sumitra Nayak, Hupi Majhi, Rajani Sabar, Meerarani Hembram and Parbati Kisku were present in a media interaction held at the Press Council of India.
Kalinga Institute of Social Sciences (KISS) promoted the girls to play competitive Rugby. Achyuta Samanta is the founder of the institute.
BFI Ties Up with IIS for Five Years
The Boxing Federation of India (BFI) tied up with the Inspire Institute of Sport (IIS), the sports training institute in Karnataka which has Abhinav Bindra and Sourav Ganguly on its advisory board, to ensure state-of-the-art facilities for the pugilists.
As part of this five-year collaboration, the BFI would look to conduct camps as part of its high-performance training programme and IIS would play a key role in shaping the boxers as the official High-Performance Partner for the BFI.
The IIS would also provide national boxers access to sports science testing, strength and conditioning experts and professional diet and nutrition support.
The institute, which successfully hosted the senior National women's championships earlier in 2019, would also host one national level tournament during each year of the association.
Kondagaon MLA Mohan Markam was appointed as the president of the Congress's Chhattisgarh unit. He replaces Chief Minister Bhupesh Baghel, who was holding the post.
The notification announcing Mr. Markam's appointment said that he was being appointed by the Congress president. Many are reading this as a sign that Rahul Gandhi may continue as the party chief.
Mr. Markam's constituency, Kondagaon, falls under the Bastar LS constituency, one of the two seats that the Congress won in the State in the 2019 Lok Sabha election.
China successfully tested its latest submarine-launched ballistic missile, the JL-3,.
Asked about reports of a shining unidentified flying object in the sky cited in many provinces and whether he can confirm it was related to test launch of JL-3 submarine-launched ballistic missile, Defence Ministry spokesperson Ren Guoqiang said that it is normal for China to conduct scientific research and tests according to the plan.
According to Ren Guoqiang, these tests are not targeted against any country or specific entity.
China follows a defence policy which is defensive in nature and an active defence military strategy.
As per military experts, the JL-3 is China's latest SLBM under development that is expected to reach targets farther away with higher accuracy and capable of carrying more warheads than China's current SLBMs.
The SLBM might have a range of up to 14,000 km and be equipped with 10 independent guided nuclear warheads.
For the post of Chief Secretary, Chief Minister Edappadi K. Palaniswami preferred Mr. Shanmugam to others, including R. Rajagopal and Rajeev Ranjan, who are his seniors.
As far as the DGP is concerned, Mr. Tripathy is the seniormost among those considered by the selection committee, which included representatives of the Union Public Services Commission, State and Central governments, apart from the Chief Minister.
Mr. Shanmugam's name figured as a possible successor to his batchmate, P. Rama Mohana Rao, in December 2016 after the latter's residence and Chief Secretary's chamber were searched by the Income Tax department. But, Ms. Vaidyanathan, who belonged to the 1981 batch, made it to the post. .
On 28 June 2019, the IAS Officers' Association held a function at the Secretariat to bid farewell to the outgoing Chief Secretary and A. Ramalingam, Commissioner of Art & Culture, who functioned as a Secretary to Chief Minister Jayalalithaa for years. Mr. Shanmugam was among those who attended the function.
Earlier in the day, Mr. Tripathy met Ms. Vaidyanathan and the incoming Chief Secretary.
Mr. Shanmugam, who is holding the post of Finance Secretary since May 2010, was empanelled by the Centre for the post of Secretary or Secretary-equivalent in the Union government.
He is among the few IAS officers to be retained in the same post despite a change in regime in the State.
Dreaded Chambal Dacoit Jagan Gujjar Surrenders
Dreaded dacoit Jagan Gujjar, facing over 100 cases of robbery, kidnapping and looting and carrying a reward of Rs. 40,000 on his head, surrendered before the police in Rajasthan's Dholpur district.
He was earlier arrested several times since 1994, and was released on bail. The police had recently launched an operation to arrest him when reports of his attacks on villagers in Dholpur's Dang area surfaced earlier in June 2019.
Rashtriya Loktantrik Party chief and Nagaur MP Hanuman Beniwal had raised the issue of Gujjar's criminal activities in the Lok Sabha recently and demanded his immediate arrest.
In the rural belts of Uttar Pradesh adjoining Rajasthan and Madhya Pradesh, his trail of loot and terror evoked images of Gabbar Singh, the iconic dacoit of the film Sholay.
Gujjar had many cases registered against him in these states.
Ram Vilas Paswan Elected to Rajya Sabha
Union Minister and Lok Janshakti Party (LJP) chief Ram Vilas Paswan was elected unopposed as a member of the Rajya Sabha from Bihar. The LJP is an ally of the BJP.
Mr. Paswan replaced BJP leader and Union Minister Ravi Shankar Prasad, who had quit the seat to contest the Lok Sabha election from Patna Sahib.
While Mr. Paswan's entry to the Upper House did not change the National Democratic Alliance's (NDA) numbers, the Rajya Sabha bypolls in Odisha, also led to the election of two Biju Janata Dal (BJD) MPs and one BJP MP.
Before this bypolls, the BJP had 75 MPs in Rajya Sabha, while its allies, the Shiromani Akali Dal and the Shiv Sena, had three each, and the Opposition had 108 MPs in total.
Though its five MPs have been among the 20 undecided members, the BJD has supported the NDA's legislation in the past.
Indian hospitality chain Lemon Tree Hotels Ltd., which is focussed on the mid-scale hotel sector, is planning to expand to 8,800 rooms in 87 hotels by calendar year 2021 from the existing network of 56 hotels with 5,525 rooms.
The company also plans to expand the Lemon Tree Premier upper midscale network to 3,381 rooms in 23 hotels by calendar year 2021, from the current 12 hotels with 1,697 rooms.
It also plans to increase its economy offering Red Fox to 1,443 rooms in 12 hotels by that time.
The hotels under development would be in cities such as Mumbai (880 rooms), Kolkata (142), Udaipur (139), Shimla (69) and Alleppey Lake Resort among others. Lemon Tree will unveil upscale brand Aurika with a 670-room hotel, which be operational by FY22.