In another second round encounter in the Bombay Gold Cup, Indian Navy shocked EME, Jalandhar, 2-1.
State-owned Oil and Natural Gas Corporation, the latest entrant in auto fuel retailing, plans to set up 15 petrol stations in Karnataka and Gujarat in the current year.
IOC is building a 5 million tonnes per annum LNG terminal at Ennore near Chennai which is to be completed by 2017.
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
ONGC on Monday said it was still in reckoning for the confiscated assets of Russian oil firm Yukos and added Moscow may give it a stake in Rosneft's Vankor oil and gas field if the deal falls.
Oil and Natural Gas Corporation on Wednesday awarded six of its small oil fields in Assam and Gujarat to private firms for development and production.
Oil explorer ONGC again emerged as the highest profit-making PSU of the country during 2012-13 while telecom major BSNL turned out to be the biggest loss-making enterprise, says the Economic Survey.
Petroleo Brasileiro SA or Petrobras, Brazil's state-controlled oil firm, has offered ONGC its 15 per cent interest in the Krishna Godavari basin block that sits next to Reliance Industries prolific KG-D6 fields without any cost.
Navratna and petroleum major ONGC will sponsor the ninth National Football League beginning in Kolkata on January 12.
The government has ordered Oil and Natural Gas Corp (ONGC) to pay a near-record Rs 13,764 crore as fuel subsidy for the December quarter, a move that will dent the firm's profitability.
ONGC went for a stock split in preparation for a follow-on issue that is expected to hit the market in the second quarter of 2011-12.
ONGC Videsh and Cairns India have bid for oil exploration blocks in Sri Lanka.
In May 1992, ONGC handed over gas pipelines and marketing functions connected with natural gas to GAIL. However, it continues to be the marketing agency in certain isolated pockets.
It is one leadership position the state-run energy giant ONGC could have done without, but nevertheless finds itself topping the list of corporates against whom investor complaints are pending for more than two months.
The government is mulling hiving off ONGC Videsh Ltd, India's flagship firm for overseas oil asset acquisition, from Oil and Natural Gas Corp into a separate entity to be owned jointly by public sector oil firms.
India's oil major ONGC has signed a memorandum of understanding with Russia's Gazprom, paving the way for their possible joint bidding for global energy assets.
Indian Oil Corporation on Thursday sold a fifth of its 9.2 per cent stake in Oil and Natural Gas Corporation to garner Rs 3,685 crore (Rs 36.85 billion).
Oil regulator DGH has recommended stiff penalties on state-owned Oil and Natural Gas Corp and Reliance Industries Ltd for default on commitments made by them on oil and gas exploration blocks awarded under NELP.
Capital expenditure (capex) by 54 large central public sector enterprises (CPSEs) and five departmental arms with an annual capex target of Rs 100 crore and above has reached around 42.5 per cent of their annual target of about Rs 7.33 trillion in this financial year so far, a senior official from the Ministry of Finance told Business Standard. "The Centre is pushing the big public undertakings in the infrastructure and refinery sector to achieve 90 per cent of their target by the end of the third quarter," he said. The capex by this group of CPSEs stands at around Rs 3.1 trillion in the April-August period so far.
Oil production from ONGC's Mumbai high field, whose output was hit by a major fire last month, is expected to reach the normal level of 265,000 barrels per day by April 2006, a senior company official said.
About two million tonnes (mt) of condensates produced by the oil company were taken into account while apportioning the subsidy burden.
Oil and Natural Gas Corporation declared on Tuesday its highest-ever interim dividend of Rs 18 on shares of Rs 10 each (180 per cent) for 2006-2007.
The Oil and Natural Gas Corp (ONGC), India's biggest oil producer, will restore in two weeks time about 70 per cent of the 100,000 barrels per day output lost due to the massive fire at platform in Mumbai offshore.
State-owned Oil and Natural Gas Corp has bid for Russia's Trebs and Titov oilfields and is pitted against local giant LukOil and a venture owned by energy major BP Plc for rights to develop the giant reserves.
The Union Cabinet on Thursday approved a revision in the formula for pricing of natural gas and imposed cap or ceiling price to help cut CNG and piped cooking gas prices by up to 10 per cent. Natural gas produced from legacy or old fields, known as APM gas, will now be indexed to the price of imported crude oil instead of benchmarking it to gas prices in four surplus nations such as the US, Canada and Russia, Union I&B Miniser Anurag Thakur told reporters after a meeting of the Cabinet. APM gas will be priced at 10 per cent of the price of basket of crude oil that India imports (Indian basket of crude oil).
Oil and Natural Gas Corporation may take up the 20 per cent stake in a $ 2 billion liquefied natural gas project in Iran.
Oil and Natural Gas Corporation, which has seen two major mishaps in the last two years at its Bombay High oilfields, on Thursday came out with a contingency plan for effective disaster management.\n\n
DG Shipping had in May banned operations of all vessels that are more than 25 years old. ONGC has more than 100 vessels operating off the East and West coast providing supporting services to oil and gas production. A Reliance Industries executive said the company faced a similar fate for its 40-plus vessels working on bringing the gas field in Krishna Godavari basin to production.
The ONGC-Hinduja combine would meet Iranian the authorities around mid-April to finalise 'participating agreement' for the development of Phase-12 of the giant South Pars gas field and South Azadegan oilfield, ONGC Chairman and Managing Director R S Sharma told reporters in New Delhi on Wednesday. The consortia was in Tehran earlier this month to do technical due diligence for the two fields but ended up being shown old data for the Phase-12 and no data of South Azadegan.
Oil and Natural Gas Corp is in talks to hire Reliance Industries' unutilised production facilities on the east to quickly bring to production its gas finds in the Krishna Godavari basin.
ONGC on Friday said it was not against the government's move to dilute its 5% stake in the public sector undertaking through an IPO or by diluting the cross holding of shares between ONGC, Indian Oil Corporation and Gail.
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The pipeline where the incident occurred was a dedicated line carrying gas to Lanco's 1,466 MW Kondapalli power plant.
CAG, in a report tabled in Parliament today, said Oil and Natural Gas Corporation hired rig 'Actinia' from RIL for six months in 2009 for Rs 146.71 crore (Rs 1.46 billion) saying it needed urgently drill three wells but its actual usage indicated the hiring was 'not necessary'.
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