The board of Oil and Natural Gas Corporation has approved the investment of Rs 950 crore (Rs 9.5 billion) extract gas from below the coal seams in Jharkhand and West Bengal from June 2007.
Bharat Petroleum Corporation Limited (BPCL), Bangalore scored a surprise 4-1 win against Oil & Natural Gas Corporation (ONGC), Delhi in the final of the DCB Presents Aga Khan hockey tournament -- 2011, at the Bombay Gymkhana ground, on Saturday evening.
The Mhow golfer scored his fifth triumph on the 2005-06 Amby Valley PGAI Tour.
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The Oil Ministry on October 31 issued orders asking upstream oil and gas producers like ONGC and Oil India Ltd to give Rs 16,729.74 crore (Rs 167.29 billion) to make up for 47 per cent of the Rs 35,328-crore (Rs 353.28 billion) revenue that retailers lost on selling diesel, domestic LPG and kerosene at government controlled rates in second quarter.
OVL in 2007-08 recorded highest ever oil and gas production from its overseas assets. Crude oil production was up 18 per cent to 6.811 million tons, while gas output was marginally lower at 1.962 billion cubic meters. It earned a net profit of Rs 2,397 crore (Rs 23.97 billion).
The government will allow exploration firm Oil and Natural Gas Corporation and Gas Authority of India to market domestic LPG to increase penetration of cooking fuel to 75 per cent of the population.
State-run Oil and Natural Gas Corporation is likely to bid for acquiring the assets of embattled Russian oil major Yukos, Petroleum secretary S C Tripathi said on Thursday.
Prime Minister designate Manmohan Singh on Thursday said the public sector units like the Oil and Natural Gas Corporation and Gail would not be privatised.
The Petroleum Ministry may have watered down its preconditions for approving mining group Vedanta Resources' acquisition of Cairn India, but the $9.6 billion deal will still hinges on no-objection from partner ONGC.
Public sector Oil and Natural Gas Corporation on Monday said it had earned its highest ever net profit of Rs 14,431 crore (Rs 144.31 billion) in 2005-06, up 11 per cent from Rs 12,983 crore (Rs 129.83 billion) in the previous year.
Oil and Natural Gas Corporation and GAIL India are likely to give 33 per cent lesser discounts on crude oil and cooking gas to the state-owned refining and marketing companies than estimated as oil prices have tumbled in the last three months and the refiners have started making profits.
'The Kuki-Zo are aware of this rich resource in their areas and feel the Meitei push for ST status is because of this reason'.
Oil and Natural Gas Corp has surpassed the Tatas in market capitalisation, with its market value of Rs 104,114.5 crore (Rs 1,041.14 billion) being more than that of all the 26 listed firms of the Tata Group.
In all, 61 companies have been pre-qualified to bid for 11 shallow water and 19 deepwater blocks in an international tender, according to Myanmar's Energy Ministry.
Oil and Natural Gas Corp, India's largest oil producer, has proposed an investment of Rs 7967 crore (Rs 79.67 billion) in setting up a 7.5 million tonnes refinery at the site of recent oil find in Rajasthan.\n\n
Aiming to become a $100 billion integrated oil and gas major in 5 years, state-run Oil and Natural Gas Corp has proposed setting up of 7 non-government firms to manage its marketing, well drilling, LNG, logistics, shipping and petrochemical businesse
State-run Oil and Natural Gas Corporation on Wednesday said the by its workers over Monday's helicopter accident had not affected crude oil production and operations were normal.
About two dozen discoveries of the state-owned ONGC, Reliance Industries and the Gujarat State Petroleum Corp (GSPC) in KG Basin alone are languishing for want of right price.
Nigeria's new government is reviewing award of oil blocks in last couple of years after it received complaints of irregularities in their allotments, with some quarters expressing apprehensions that the licences won by India's ONGC-Mittal combine may also be under scanner.Although the identities of the blocks as well as the awardees are not immediately known, industry sources said some domestic and foreign entities that obtained licences through 'backdoor' may lose it.
Oil and Natural Gas Corporation expects to hit the market with a public offering of ten per cent government equity by early March, a top official said on Wednesday.
Confusion prevailed in the Bombay Stock Exchange on Tuesday over a sudden rise in Oil and Natural Gas Corp share price to Rs 1,480, against the last close of Rs 1,256.95.\n\n
The government plans to sell 5 per cent of its stake in Oil and Natural Gas Corporation through the further or follow-on public offering which at current prices can fetch up to Rs 13,500 crore (Rs 135 billion).
ONGC is weighing the possibility of merging Mangalore Refinery and Petrochemicals Ltd with itself even as it has laid out capex plans of over Rs 500 crore for the refinery, including product upgrade to meet the Euro III norms.
Oil and Natural Gas Corporation, the country's largest oil and gas producer, is planning to sell 30 to 40 per cent each in two blocks in Vietnam to share the risks and drilling costs. ONGC owns 100 per cent in the two deepwater exploration blocks.
Christopher Wood, global head of equity strategy at Jefferies has rejigged his equity portfolios. In his Asia ex-Japan long-only portfolio, he has added Axis Bank (5 per cent weightage) and increased holding in Larsen & Toubro (L&T) by one percentage point. This, Wood said, will be paid for by removing the investment in ICICI Lombard General Insurance and reducing the investments in HDFC Bank and Reliance Industries (RIL) by one percentage point each.
State-owned Oil & Natural Gas Corp's (ONGC) Krishna Godavari basin well that had been leaking natural gas for over two months now, has stoped flowing gas, the government said.
ONGC demands certain incentives from the Andhra Pradesh government to go ahead with the Kakinada refinery project
The government has nipped Oil and Natural Gas Corp's exclusive plans to extract liquid petroleum gas and C2/C3 from liquefied natural gas by also allowing gas utility GAIL India to do the same from the common LNG being imported by Petronet.
The government on Wednesday expressed confidence about the success of the ensuing public issue of Oil and Natural Gas Corporation.
State exploration firm Oil and Natural Gas Corp on Thursday said it will take 26 per cent equity in Bharat Petroleum Corp Ltd's upcoming 6 million tonnes refinery at Bina in Madhya Pradesh.
Oil and Natural Gas Corp (ONGC) has said its net profit will drop by over 47 per cent to below Rs 10,000 crore (Rs 100 billion) this fiscal if the government forces it to shell out a higher fuel subsidy.
State-owned Oil and Natural Gas Corporation is likely to win at least half of the 20 oil and gas block bids which closed on Tuesday.
State-own oil explorer Oil and Natural Gas Corporation and the Hinduja group have been offered 40 per cent stake in the development of phase-XII of the giant South Pars gas field of Iran.
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Three PSUs, three private firms join bid to acquire 40% stake in Haldia Petrochem.
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