Russia's embattled Yukos Oil Company has threatened to sue Indian oil and gas major ONGC if it goes ahead with plans to pick up stake in its core asset Yuganskneftegaz, effectively nationalised by Russian government through auction.
ONGC Videsh Ltd, the overseas arm of state-run Oil and Natural Gas Corporation (ONGC), is getting ready to bid for an oil field in Azerbaijan.
ONGC must tackle several issues first only then it can turnaround its fortunes.
State-owned Oil and Natural Gas Corp (ONGC) has written to the Oil Ministry seeking appointment of an international expert to assess if Reliance Industries Ltd was drawing out any of its gas in KG basin.
ONGC has suffered a loss of over Rs 30,000 crore due to alleged siphoning off of natural gas by Reliance Industries Ltd (RIL) from the PSU's well in Krishna-Godavari (KG) basin and appointment of an experts body on the issue "will not help", the state-run oil firm said.
State-run Oil and Natural Gas Corporation (ONGC) will shortly farm out nearly 26 per cent stake in its KG-DWN-2004/6 block in the Krishna-Godavari basin to Japan's Inpex Corporation.
Oil and Natural Gas Corporation is considering the option of setting up a joint venture or a wholly owned subsidiary for its petroleum retailing foray.
India's largest exploration firm Oil and Natural Gas Corporation is considering giving 2-3 per cent of its equity shares to workers as employee stock options.
The two government upstream companies, along with GAIL, make good a third of the losses made by government oil marketing companies.
Finance Minister Pranab Mukherjee gave the Business Today Best CFO in the Public Sector Award to Sarraf, ONGC said.
The Delhi high court (HC) division Bench on Thursday sought a response from Reliance Industries (RIL) and others regarding the government's appeal against the Mukesh Ambani-owned conglomerate and others for fraudulently and unjustly enriching themselves by draining gas from their deposits, amounting to over $1.5 billion. The Centre had appealed against the single-judge Bench order of the Delhi HC on May 9, which had dismissed its petition. Justice Anup Jairam Bhambhani had upheld the international arbitration award of July 24, 2018, in favour of the RIL-led consortium. The consortium includes UK-based BP Plc and Niko Resources of Canada.
Cairn wants the stakes that its different subsidiaries, including those registered abroad as well as showpiece Rajasthan oilfields, hold in oil and gas properties, to be transfered into one India-based company.
The last batch of quarterly earnings, global trends and trading activity of foreign investors will guide the equity market movement in a holiday-shortened week ahead, analysts said. Volatility may continue amid investors' cautious approach in the election season. Markets will remain closed on Monday due to the fifth phase of the Lok Sabha elections in Mumbai.
'These are capex and infrastructure-linked sectors, PSUs or stocks of some corporate houses.'
This and the other six agreements seek to boost economic and strategic ties between the two countries.
Oil major ONGC on Tuesday said the government's holding in the company has come down by 4.91 per cent to 69.23 per cent following stake sale last week. Prior to the Offer for Sale, the government had 74.14 per cent stake in ONGC.
Trends in the global energy markets are crucial if India's growth outlook is to remain healthy. Prices for the Indian crude basket were averaging around $86.2 per barrel through Q1FY25 and then moderated to $84 in July and to $78-79 in August (so far). But global crude supply may outpace weak global demand in the short term.
ONGC is raising debt for a spate of acquisitions over the past year
India's largest crude oil producer Oil and Natural Gas Corporation (ONGC) is on the verge of reporting "losses" on every barrel of crude oil that it sells due to the high subsidy burden that it has to bear. This would be the first time that ONGC will post negative margins on crude oil sales. This loss comes at a time when crude oil producers around the world are making windfall profits due to record highs in oil prices.
ONGC came from behind to hold Shillong Lajong FC 1-1 in their 23rd I-League encounter played under floodlights at a packed J N Stadium in Shillong on Sunday.
Lack of clarity on the overhaul of the subsidy-sharing mechanism by upstream companies.
The government will decide in August whether to sell a 5 percent stake in ONGC, a senior oil ministry official said, in a deal that would be worth $2.9 billion at current market prices.
ONGC was gladdened by the rise in crude oil prices by 77 cents to $27.68 barrels on the Nymex crude futures even as the rest of the market found that depressing.
The Indian oil company has been struggling to generate positive free cash flows given its already high capital expenditure programme and projected rise in its fuel subsidy outgo.
State-run Oil and Natural Gas Corp has demanded a 12.5 per cent hike in price of natural gas it produces from fields given to it on nomination basis as it was incurring losses at the present permal units.
State-owned Oil and Natural Gas Corp on Monday said UK's Cairn Energy Plc cannot sell a majority stake in Cairn India to Vedanta Resources without its consent.
Escalation of the conflict in West Asia between Israel and Iran has had a direct impact on the energy markets, and more broadly on the financial markets as well as the global economy.
Experts say finding a solution within the high court-mandated timeline of six months may be tough.
At end of trade on Thursday, ONGC commanded a market value of Rs 2,90,587 crore.
Public Enterprise Selection Board will interview Ravi Narayan Bastia, the man who discovered India's biggest gas field, and nine others who have applied for the top job for the at ONGC, on October 19, official sources said.
RIL has maintained it had followed the production sharing contract (PSC) in letter and spirit and done no wrong and it has drilled all wells within its boundary.
ONGC will split equity shares of Rs 10 face value into two shares of Rs 5 face value. Furthermore, the board approved a 1:1 bonus share issue - one new share being issued for every existing equity held by shareholders - as a precursor to the company's planned follow-on public offer (FPO) in March, 2011.
The government on Thursday lauded Oil and Natural Gas Corporation for arresting the decline in oil production by pumping in huge investments for exploration and production
R S Sharma, whose appointment as head of ONGC was culled earlier this week, has decided not to quit as acting chairman and managing director and will hold the top post till the government appoints a full-time head.
RIL had drawn 58.67 bcm from the wells up to March 31, 2015.
Production at India's largest gas fields Bassein and Panna/Mukta and Tapti in Mumbai offshore has been stopped, following flooding of Oil and Natural Gas Corp's processing plant at Hazira in Gujarat.
A report, by DeGoyler and MacNaughton, has put a question mark on the future production from the five ONGC discoveries.
For 2015-16, ONGC is targeting a total of 26 MT of oil production.
The auditor also raised doubts over the safety procedures.
Reliance Industries on Friday hit out at Oil and Natural Gas Corp (ONGC) for suing it over KG gas dispute, saying some elements in the state-owned firm may be "misleading" the chairman D K Sarraf to hide their failure in developing the discoveries made over 13 years.
