Reliance, ONGC, BP win Gujarat offshore block in OALP-IX

18 Apr 2025 CW Team

In a landmark partnership, ONGC, Reliance Industries, and BP have jointly won a Gujarat offshore block for natural gas exploration under OALP-IX, with ONGC emerging as the top bidder across this round.

The three firms secured block GS-OSHP-2022/2, marking the first such collaboration among India’s largest national oil company, its top conglomerate, and a global energy major. ONGC won 15 blocks overall — 11 individually and four in partnerships, including this one.

The Open Acreage Licensing Policy (OALP-IX) featured 28 blocks spread across nine onshore, eight shallow-water, and 11 ultra-deepwater zones. It covered over 136,000 square kilometres across eight sedimentary basins.

Vedanta Ltd, which bid for all blocks, won seven, while Oil India Ltd secured six alone and three with ONGC. The bidding round, which closed in September 2024, prioritised government revenue share and work programme quality. It drew limited participation from private firms, continuing the trend of dominance by public sector entities.

Notably, Reliance and BP had previously participated in only two OALP rounds and won both. Their latest success comes amid the government’s push to raise domestic output and cut India’s $222 billion oil import bill.

With the OALP-X round now open — offering 25 blocks over nearly 192,000 square kilometres — exploration activity is expected to intensify further.

Source: Business Standard

Infrastructure Urban

05 Nov 2025

TBO Tek Q2 Profit Climbs 12%, Revenue Surges 26% YoY

TBO Tek Limited one of the world’s largest travel distribution platforms, reported a solid performance for Q2 FY26 with a 26 per cent year-on-year increase in revenue to Rs 5.68 billion, reflecting broad-based growth and improving profitability.The company recorded a Gross Transaction Value (GTV) of Rs 8,901 crore, up 12 per cent YoY, driven by strong performance across Europe, MEA, and APAC regions. Adjusted EBITDA before acquisition-related costs stood at Rs 1.04 billion, up 16 per cent YoY, translating into an 18.32 per cent margin compared to 16.56 per cent in Q1 FY26. Profit after tax r..

Northern Graphite, Rain Carbon Secure R&D Grant for Greener Battery Materials

Northern Graphite Corporation and Rain Carbon Canada Inc, a subsidiary of Rain Carbon Inc, have jointly received up to C$860,000 (€530,000) in funding under the Canada–Germany Collaborative Industrial Research and Development Programme to develop sustainable battery anode materials.The two-year, C$2.2 million project aims to transform natural graphite processing by-products into high-performance, battery-grade anode material (BAM). Supported by the National Research Council of Canada Industrial Research Assistance Programme (NRC IRAP) and Germany’s Federal Ministry for Economic Affairs a..

Antony Waste Q2 Revenue Jumps 16%; Subsidiary Wins Rs 3,200 Cr WtE Projects

Antony Waste Handling Cell Limited (AWHCL), a leading player in India’s municipal solid waste management sector, announced a 16 per cent year-on-year increase in total operating revenue to Rs 2.33 billion for Q2 FY26. The growth was driven by higher waste volumes, escalated contracts, and strong operational execution.EBITDA rose 18 per cent to Rs 570 million, with margins steady at 21.6 per cent, while profit after tax stood at Rs 173 million, up 13 per cent YoY. Revenue from Municipal Solid Waste Collection and Transportation (MSW C&T) reached Rs 1.605 billion, and MSW Processing re..