Lack of clarity on the overhaul of the subsidy-sharing mechanism by upstream companies.
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.
ONGC is raising debt for a spate of acquisitions over the past year
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.
Russian oil supplies to India will continue to flow unhindered and suppliers will come up with ways to sidestep secondary sanctions, a Russian official told Business Standard.
This and the other six agreements seek to boost economic and strategic ties between the two countries.
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.
Experts say finding a solution within the high court-mandated timeline of six months may be tough.
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.
RIL had drawn 58.67 bcm from the wells up to March 31, 2015.
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.
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.
A report, by DeGoyler and MacNaughton, has put a question mark on the future production from the five ONGC discoveries.
At end of trade on Thursday, ONGC commanded a market value of Rs 2,90,587 crore.
The auditor also raised doubts over the safety procedures.
For 2015-16, ONGC is targeting a total of 26 MT of oil production.
Lower crude oil costs and higher marketing margins are expected to raise the fortunes of oil marketing companies (OMCs) in the first quarter (Q1) of 2023-24 (FY24), while city gas distribution (CGD) companies could also benefit from lower spot prices of liquefied natural gas (LNG). However, in a break from the past, growth trends are expected to diverge for various segments within the broad energy sector. Analysts expect the earnings from gas production to go down for upstream national oil and gas companies such as Oil and Natural Gas Corporation (ONGC) and Oil India (OIL) due to the introduction of the new domestic gas pricing regime on April 1. After showing steep losses over the first half of 2022-23 (FY23), the marketing margins of OMCs have steadily recovered in four months.
India on Thursday described as 'matter of serious concern' reports that said some members of the Indian community in Canadian province of British Columbia received 'extortion calls'.
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.
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.
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.
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.
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.
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.
Following up on Finance Minister Arun Jaitley's Budget announcement of creating an integrated oil company, India's biggest oil and gas producer ONGC may buy all of the government's 51.11 per cent stake in Hindustan Petroleum Corporation Ltd.
The Gujarat High Court had last week directed ONGC to pay royalty on crude oil on the gross price it bills to refiners.
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.
Based on this settlement, the Supreme Court has disposed of the case on February 20.
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
Star striker Odafa Okolie failed to make an impact as Mohun Bagan were held goalless by ONGC in a dull Round 5 match of the I-League in Delhi on Friday.
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.
The government had last sold 5 per cent stake in ONGC in 2012 for Rs 14,000 crore (Rs 140 billion).
The ONGC announced a cash bonanza for players who will win medals at the London Olympics with gold medal winners to get Rs 25 lakh while silver and bronze medallist will get Rs 15 and Rs 10 lakh respectively.
Last month, the government approved the proposal of doubling gas price from RIL's KG basin from $4.2 mmbtu to $8.4 mmbtu from April 1, 2014.
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.
Petroleum Minister Mani Shankar Aiyar has blamed bureaucrats in his ministry for the fiasco over appointment of additional government directors on ONGC board, saying legal opinion should have been taken instead of doing 'guess-work'.
D K Sarraf replaces Vasudeva, who turned 60 on Tuesday and is due to superannuate on Friday.
India's corporate sector is likely to report a slowdown in revenue growth and earnings for the July-September 2023 period (Q2FY24), according to earnings estimates by brokerages, after the country's top listed companies posted higher than expected profits for the first quarter. The combined net profit of Nifty50 companies, based on brokerage estimates, is expected to have grown by 19.6 per cent year-on-year (Y-o-Y) to Rs 1.75 trillion in Q2FY24 - a sharp deceleration from 37.6 per cent Y-o-Y growth in the combined earnings of index companies in the April-June 2023 period. According to estimates, the combined earnings in the second quarter would be down 8.8 per cent on a quarter-on-quarter (Q-o-Q) basis and the lowest in the past three quarters.
Oil and Natural Gas Corporation has offered Brazilian oil firm Petroleo Brasileiro SA (Petrobras) a stake in its east coast blocks in exchange for getting a 15 per cent stake in a Brazilian exploration acerage.
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