GUWAHATI, May 14

The explosion that claimed 11 lives and sent the Deepwater Horizon, a billion-dollar oil rig, to the bottom of the Gulf of Mexico, was bad enough. But for the inhabitants of America

Christine Todd Whitman

Cairn India

HALDIA: At a time when the Indian Oil Corporation (IOC) is making rapid progress in transforming itself into a vertically integrated transnational energy major, its Haldia refinery is likely to earn higher operational margins in the coming quarter of the next fiscal.

The three new oil refineries will create 30 million tonnes of fresh capacity in a mar- ket which already has a major surplus capacity.
On Monday, three engineering firms announced new projects that they had bagged in the past few days. Nothing uncommon at this time of the year.

State-run Oil and Natural Gas Corp (ONGC) walked away with more than half of the 33 oil and gas blocks awarded to successful bidders of the recently-concluded eighth round of auction under the New Exploration Licensing Policy (Nelp).

ONGC Videsh Ltd, the overseas arm of state- owned Oil and Natural Gas Corp (ONGC), has made two significant oil discover- ies of 185 million barrels of oil in a block in northeast- ern Syria.

OVL and its partner IPR Mediterranean Exploration Ltd discovered Rashid and Abu Khashab oilfields in Block-24, the company said in a statement here.