The Oil Ministry has approved part sale of government's stake in Oil and Natural Gas Corp as well as Indian Oil Crop, a move that could fetch about Rs 24,000 crore (Rs 240 billion) for the Centre this fiscal.
State-run Oil and Natural Gas Corp (ONGC) may seek management control of the giant Rajasthan oilfields in lieu of allowing UK's Cairn Energy to sell majority stake in its Indian arm that now operates the field, to a non-oil firm, Vedanta Resources for $8.48 billion.
The Oil and Natural Gas Corp has deferred investments in Imperial Energy Plc to raise crude oil production and will rather consolidate the western Siberian operations of the UK-based firm it acquired recently.
Goldman Sachs' controversial note on corporate governance in Oil and Natural Gas Corp that evoked a strong reaction from the company, is not the first instance of the US investment bank having a run-in with the state-owned firm.
Chennai-based Sical Logistics Ltd, which was operating the ONGC-owned supply vessel, said Captain Gurubachan Singh is among the eight still missing.
The India story got stronger on the global arena with the country expanding its presence on the elite list of Fortune Global 500 companies, as the PSU banking major State Bank of India has become the sixth domestic firm to feature in the league.
Chief mentor of Infosys Technologies N R Narayan Murthy and former chairman of Oil and Natural Gas Corp Subir Raha have been adjudged winners of Priyadarshni Academy award
Oil India Ltd, the second state-run firm to hit the market with an offering of equity shares this year, may price its IPO that opens on September 7 at Rs 1,000-1,100 a share.
Undoing Mani Shankar Aiyar's move to exercise greater control on public sector oil firms, the petroleum ministry has restricted the number of government directors on boards of public sector oil companies to just two.
ONGC Videsh Ltd, the overseas investment arm of state-run Oil and Natural Gas Corp (ONGC), will take a 40 per cent stake in San Cristobal oilfield in Venezuela.
To make the government directors more accountable, the bureaucrats who sit on the boards of central public sector companies will now be evaluated for their performance.
India's largest oil producer Oil and Natural Gas Corp, gas utility GAIL and exploration firm Oil India Ltd will pay Rs 3,246 crore (Rs 32.46 billion) to oil marketing firms to partly cover the losses they made in April-June.
Oil and Natural Gas Corp, India's largest oil producer, plans to set up new refineries at Rajasthan and Kakinada in Andhra Pradesh, Petroleum Minister Mani Shankar Aiyar said on Thursday.\n\n
R S Sharma,the new ONGC chief, has set his sight on reversing the decline in production from ageing fields and cutting rising expenditure.
Oil and Natural Gas Corporation has taken control of Imperial Energy after 96.8 per cent shareholders accept its takeover offer.
The reserves in Farzad-B are almost thrice the largest gas field in India.
The government has allowed Reliance Industries Ltd and Mangalore Refineries and Petrochemicals Ltd to sell kerosene outside the public distribution system, Petroleum Minister Mani Shankar Aiyar said on Thursday.
Ras Laffan Liquefied Natural Gas Co Ltd (RasGas) of Qatar has pulled out of state-run National Thermal Power Corporation's tender for supply of 3 million tonnes of LNG for its power plants.
Yemen has invited Oil and Natural Gas Corp to build a 100,000 barrels per day refinery on its Arabian sea coast but the Indian state-run firm has conditioned participation in the $1-billion project on being allotted an oilfield in return.
The markets opened strong on the back of buying in capital goods, bank and IT stocks
India-born billionaire Lakshmi Mittal will pay Russia's Lukoil $980-million
Reliance Industries edged past Oil and Natural Gas Corporation in morning deals on Thursday to become India's most valuable company with a market capitalisation of Rs 1,60,949 crore (Rs 1609. 49 billion).
The government on Wednesday said there was no proposal to either merge Hindustan Petroleum and Bharat Petroleum with Oil and Natural Gas Corp or Oil India Ltd with Indian Oil Corporation.
India's crude oil production rose by 3.2 per cent in May on back of better performance by state- owned oil major Oil and Natural Gas Corp (ONGC), while refinery output remained unchanged.
ONGC Videsh Ltd, the overseas arm of Oil and Natural Gas Corp, has signed a $194 million contract with the Sudan Government for construction of a 741-km long multi-product pipeline.
The post fell vacant after the government refused Subir Raha an extension at the helm of the company after his first five-year term expired in May.\n\n
Subir Raha, who was last week denied an extension as head of Oil and Natural Gas Corp on the basis of a critical performance appraisal by former petroleum secretary S C Tripathi
The government on Wednesday allowed Mangalore Refinery and Petrochemicals Ltd, a subsidiary of the state-owned Oil and Natural Gas Corp, to set up 500 petrol stations
Oil and Natural Gas Corp, India's largest oil producer, has lost nearly 900 of its skilled experts in the last one year to its competitors, who offered 4-5 times more salary than the state-owned firm.
Privatisation of old oil fields to raise output and reduce India's import dependence was advised by the Economic Survey.
The government has set up a committee to work out sharing by producers and retailers the losses likely to accrue from the decision to freeze LPG and kerosene price for a year despite rising cost.\n\n\n\n
ONGC Videsh Ltd, the overseas arm of state-run Oil and Natural Gas Corp (ONGC), is in talks to acquire stakes in two oil blocks in Sudan, a nation which is the Indian flagship is largest overseas oil producing base.
India's Oil and Natural Gas Corp is still hoping to clinch the deal for takeover of PetroKazakhstan, with senior officials dashing-off to Russia to get Lukoil to stop the company's sale to China's CNPC.
Oil and Natural Gas Corp, India's largest oil producer, has proposed an investment of Rs 7967 crore (Rs 79.67 billion) in setting up a 7.5 million tonnes refinery at the site of recent oil find in Rajasthan.\n\n
Oil and Natural Gas Corp on Friday said it has entered into a Memorandum of Understanding with Indian Airlines to take two aircraft on lease to meet its operational requirements.
ONGC Videsh Ltd, the overseas arm of Oil and Natural Gas Corp, and its partner IPR Red Sea Inc have made a significant oil discovery in offshore Egypt.
Petroleum Minister Mani Shankar Aiyar will take up Oil and Natural Gas Corp's proposal to acquire 15-20 per cent stake in embattled Russian firm Yukos' core asset, Yuganskneftegaz, when he meets his Russian counterpart in Moscow on February 21.
The petroleum ministry has sought legal advice on payment of production tax by Cairn Energy of the UK on the crude oil it plans to produce from the Barmer district discovery in Rajasthan.
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