indian oil

A day after Infosys announced that they had agreed to buy out UK based Axon Group for what will go down as the biggest deal in the history of Indian IT services, the foreign arm of India’s largest oil corporation ONGC (Oil And Natural Gas Corporation) ONGC VIDESH did one better by announcing that they had agreed to purchase another UK based company : Imperial Energy .This deal when done will be the biggest deal in the history of  Indian oil companies and is a sure sign that India Inc. is firmly looking to make good buys in the European markets.

By Priya Nigam

You can’t touch this! It’s not that I am a big fan of MC Hammer. But the song keeps playing in my mind every time I go out to buy something these days. Food prices have hit the roof, and inflation (currently at a three-year high of 7.41%) is definitely a cause for concern. Against this backdrop, it seems strange to mention that the blow has been softened by the government’s cap on fuel prices. In fact, fuel prices have been kept so low that refiners are unable to meet their costs.