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'.
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.
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.
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.
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.
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.
'These are capex and infrastructure-linked sectors, PSUs or stocks of some corporate houses.'
This is for the second consecutive time that ONGC has been bestowed this prestigious honour.
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.
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.
D K Sarraf replaces Vasudeva, who turned 60 on Tuesday and is due to superannuate on Friday.
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.
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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.
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.
Based on this settlement, the Supreme Court has disposed of the case on February 20.
Vasudeva, 57, is currently director (offshore) in ONGC.
Indian Oil Corporation Ltd entered into a crude oil supply agreement with ONGC for supply of indigenous crude for its refineries.
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, 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.
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.
ONGC and RIL bill their consumers like fertiliser plants and power stations in US dollar.
An injury-time goal by Yusif Yakubu helped Mumbai FC earn a draw against ONGC at the Ambedkar Stadium in New Delhi on Saturday.
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's largest oil producer Oil and Natural Gas Corp will launch its new logo on August 14, the ONGC Day.
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.
RIL had drawn 58.67 bcm of gas from four wells.
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.
The FinMin will pay Rs 5,324 crore (Rs 53.24 billion) for Jan-March.
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.
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.
