It was recently informed by India's largest listed company, Reliance Industries Ltd that the company's quarterly earnings sank by 9.8%, which is its first drop in three years. However, the forecasts have been beaten by the company as refining margin eased less than expected.

It is being hoped by Reliance, which is India's largest petrochemical producer and refiner that the good times for the company will commence in the second half of February when it will start generating 30-40 million cubic metres of natural gas a day from its deep-sea fields off India's east coast.

The state-owned Nuclear Power Corporation of India Limited is planning to sign a deal with French energy major Areva to set up two new nuclear power reactors in Maharashtra. The move would help to resolve ever increasing energy needs of the country.

It should be recalled that India had signed a deal with France to co-operate in civil nuclear program. NPCIL and Areva had already signed a deal to provide 300 tonnes of Uranium for fuel deficient Indian nuclear reactors.

Stock analysts have maintained ‘buy’ rating on ONGC stock with an intraday target of Rs 675.

According to them, interested traders can purchase the stock between Rs 658-662 with a strict stop loss of Rs 650. If the stock market remains on positive track, the stock pricing becomes more attractive, and reach above Rs 685.
 

Vienna - The price for oil produced by the Orga

Moscow - The Russian gas monopoly Gazprom began Tuesday to pump gas to Europe into a Ukrainian transit pipeline for the first time since a nearly two-week supply blockade began, the Russian Interfax news agency reported.

The supply resumed after both countries laid aside a bitter dispute over fees and the illegal siphoning of gas, which had cut European countries off from energy supplies in the middle of a harsh winter.