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'.
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.
D K Sarraf replaces Vasudeva, who turned 60 on Tuesday and is due to superannuate on Friday.
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.
State-run Oil and Natural Gas Corporation and private sector Hindustan Oil Exploration Company will pick up British oil and gas firm BG Group's stake in a Gujarat offshore exploration block.
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With Oil Ministry continuing to be opposed to selling IOC shares on stock market like other disinvestments, an Empowered Group of Ministers headed by Finance Minister P Chidambaram today decided to sell 24.27 crore shares or 10 per cent government stake in the company to Oil and Natural Gas Corporation and Oil India Ltd.
This is for the second consecutive time that ONGC has been bestowed this prestigious honour.
Vasudeva, 57, is currently director (offshore) in ONGC.
State-owned Oil and Natural Gas Corporation is keen to acquire Canadian oil and gas firm First Calgary Petroleums Ltd, which owns high potential oil and gas blocks in Algeria.
RIL had drawn 58.67 bcm of gas from four wells.
An injury-time goal by Yusif Yakubu helped Mumbai FC earn a draw against ONGC at the Ambedkar Stadium in New Delhi on Saturday.
ONGC and RIL bill their consumers like fertiliser plants and power stations in US dollar.
ONGC, which partners Cairn India in its crown jewel oilfields in Rajasthan and seven other properties in India, has waived its preemption rights over the deal and given a no-objection certificate, sources privy to the development said.
Oil and Natural Gas Corporation on Monday said the anomaly in allotment of shares in the just-concluded public offering of government's 10 per cent shareholding has been rectified and correct allotments made.
Indian Oil Corporation Ltd entered into a crude oil supply agreement with ONGC for supply of indigenous crude for its refineries.
The FinMin will pay Rs 5,324 crore (Rs 53.24 billion) for Jan-March.
India's largest oil producer Oil and Natural Gas Corp will launch its new logo on August 14, the ONGC Day.
State-owned Oil and Natural Gas Corp is in talks to buyout US oil and gas producer Pogo Producing Co's stake in an offshore Thailand field.
India is the world's fourth-biggest oil consumer, importing four-fifths of its needs as its own output shrinks.
State-owned Oil and Natural Gas Corp (ONGC) has offered a job to Unmukt Chand, captain of Under-19 World Cup-winning team. 'We have today felicitated the star cricketer and decided to make a job offer,' ONGC Chairman and Managing Director Sudhir Vasudeva said.
ONGC Chairman R S Sharma, who was in Kutch in Gujarat recently to inaugurate the group's maiden foray into wind energy, said, "We are in talks with three to four players for our solar energy project." He said that various pilot projects were going on at the Energy Centre, which included geo-thermal energy. The Energy Centre was set up last year for carrying out research in alternate energy sources beyond oil and coal.
Oil and Natural Gas Corporation said on Monday that it would set up 1,100 retail outlets for marketing motor spirit and high speed diesel.
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.
After weeks of delay, Oil Minister S Jaipal Reddy has agreed to clear appointment of two independent directors on board of Oil and Natural Gas Corp (ONGC), a requirement that was must for the state-owned firm's public offering next month.
Global consulting firm Hay Group and Fortune Global Survey 2007 have adjudged state-run Oil and Natural Gas Corporation as one of the World's Most Admired Companies.
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.
FMCG major ITC on Tuesday surpassed state-run energy giant ONGC to become the county's second most valued firm in terms of market valuation, with TCS at the top of chart.
Pune FC rode on to Shanmugham Venkatesh's 71st minute strike to win their I-League season-opening match against ONGC FC 3-2, after surviving 15-odd anxious minutes when they were reduced to ten men, at the Balewadi Sports Complex stadium in Pune, on Monday.
ONGC's stunning form at home continued as they beat former champions Salgaocar by a solitary goal in a Round 16 I-League match at Ambedkar Stadium in New Delhi on Saturday.
Tech major's shareholders will receive total dividend of Rs 15,474 crore in FY15
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