Starbucks has scrapped a $250,000 (£181,000) cap on its chief executive's use of the coffee chain's company jet for personal travel because of concerns about his safety. Brian Niccol uses the jet to commute almost 1,000 miles (1,600km) from his family home in Newport Beach, California
On January 28, Maharashtra Deputy Chief Minister and senior NCP leader Ajit Pawar lost his life in a plane crash. The aircraft had taken off from Mumbai but crashed during the final phase of descent, just minutes away from its planned landing in Baramati.On January 28
Donald Trump has warned Iran that "time is running out" to negotiate a deal on its nuclear programme following the steady build-up of US military forces in the Gulf. The US president said a "massive Armada" was "moving quickly, with great power, enthusiasm, and purpose" towards Iran
China has executed 11 members of a notorious family that ran scam centres in Myanmar, state media report. A court in Zhejiang province sentenced the Ming family members for crimes including homicide, illegal detention, fraud and operating gambling dens last September
Meta on Wednesday reported quarterly earnings that topped market expectations, as revenue grew along with investments in artificial intelligence. The parent of Facebook and Instagram said it made a profit of $22.8 billion on revenue of nearly $60 billion in the recently ended quarter
ONGC, Reliance Industries ink MoU for sharing deepwater resources on India’s east coast
ONGC, Reliance Industries ink MoU for sharing deepwater resources on India’s east coast
State-owned Oil and Natural Gas Corporation (ONGC) and privately-owned refiner Reliance Industries entered into an agreement for the sharing of resources emanating from their deepwater exploration and production operations in India's East coast, particularly across the Krishna Godavari (KG) basin and Andaman offshore.
According to a joint statement from the two entities, the deal would provide for the sharing of key resources required for offshore operations, which may also include those for onshore and offshore processing. These include facilities, drilling rigs, marine vessels, power, pipelines , logging and well services, etc.
The statement adds that the deal would help with optimising costs, strengthening operational resilience alongside faster mobilisation and execution.
Enumerating further about the rationale of the agreement, Director for Exploration at ONGC O.P. Sinha, stated the agreement framework would provide for sharing of resources that either of them may have in surplus.
The enabling framework of the collaborative agreement, for sharing of infrastructure and facilities at both onland and offshore, was provisioned with an amendment to the regulating Oilfields (Regulation and Development) Act last year.
Further responding to queries about potentially expanding the scope of the deal to other avenues in future, Mr. Sinha stated, “It would not be limited to KG Basins and [can] happen elsewhere also.”
He had explained, “If I share the infrastructure, two, three or more companies can join hands to share the same resources and optimally and profitably use that infrastructure. In that direction, things would be moving.”
Published - January 28, 2026 07:26 pm IST
oil and gas - upstream activities / licensing agreement
Source: TheHindu
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