Mar 05, 2013, 09.26 PM IST
Upstream regulator Directorate General of Hydrocarbons (DGH) has approved commerciality of a significant oil find of state-owned Oil India Ltd in Rajasthan.
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DGH approves commerciality of Oil India's find in Rajasthan
Upstream regulator Directorate General of Hydrocarbons (DGH) has approved commerciality of a significant oil find of state-owned Oil India Ltd in Rajasthan.
Like this story, share it with millions of investors on M3
DGH approves commerciality of Oil India's find in Rajasthan
Upstream regulator Directorate General of Hydrocarbons (DGH) has approved commerciality of a significant oil find of state-owned Oil India Ltd in Rajasthan.
OIL had struck crude oil in the block RJ-ONN-2004/2 last year. Sources said DGH after going through results of test done to establish the discovery, confirmed that the find was commercially viable and issued Declaration of Commerciality (DoC).DoC is essential before any discovery can be development.
Also read: Essar Oil up over 22%, what's the trigger?
Sources said the discovery can produce a peak of 30,000 barrels per day. OIL has named the discovery in the Rajasthan block as Punam-1. Block RJ-ONN-2004/2 lies in close vicinity of Cairn India 's prolific Rajasthan oil block.
highlights
- No case to revise direct tax rates, slabs
- Super rich tax: 10% surcharge on income above Rs 1 cr
- Modified provisions under GAAR effective April 1, 2016
- No change in standard rate of excise duty, service tax
flashes
- FM speaks to CNBC TV18
- Budget Reaction: Fitch Says Policy Implementation To Be Key Driver Of India Rating
- Budget Reaction: Fitch Says Believe Policy Execution Will Be Challenging
- Budget Reaction: Fitch Says Public Finances Vulnerable To Further Growth Slowdown
InterpretationS
- GAAR-Presumes tax benefit unless proved contrary
- MFs covered for deductions u/s 80CCG
- Excise duty increased on mobile phones of Retail Sale Price (RSP) more than Rs 2000
- ED on readymade garments exempted: positive textile sector
SECTOR IMPACT
Select Sector to see impact
- Auto - Cars & Jeeps
- Auto - LCVs/HCVs
- Banks - Private Sector
- Banks - Public Sector
- Cigarettes
- Computers - Hardware
- Computers - Software - Training
- Construction and Contracting - Real Estate
- Electricals
- Engineering - Heavy
- Finance - General
- Finance - Investments
- Infrastructure - General
- Leather Products
- Media & Entertainment
- Mining/Minerals
- Miscellaneous
- Personal Care
- Pesticides/Agro Chemicals
- Power - Generation/Distribution
- Refineries
- Shipping
- Sugar
- Textiles - Denim
- Textiles - General
Textiles - General
18:52 pm
Exice Duty on readymade garments exempted +ve for textile sector
TAX AND YOU
Salaried Person
REACTIONS
reaction on: Policy
Naina Lal Kidwai
Country Head | HSBC India
reaction on: Business
NK Jain
Vice-chairman | JSW Energy
reaction on: Markets
Mukesh Kumar
Head - Strategic Planning | HDFC ERGO General Insurance
reaction on: SME
Snehdeep Aggarwal
Founder & Chairman | Bhartiya International
reaction on: Policy
Sanjay Sanghvi
Partner | Khaitan & Co
What got Cheaper / costlier?
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