When the news of steel baron LN Mittal getting into the energy sector without his Indian exploration and production partner, Oil and Natural Gas Corporation surfaced, there was much speculation about whether the alliance was on the verge of a break-u
Oil and Natural Gas Corporation will restart its flood-hit Hazira gas plant in Gujarat on August 19, two-days ahead of schedule to avert a fuel supply crisis particularly for CNG operations in New Delhi.
Putting aside the plan for setting up a greenfield refinery in the state, Cairn Energy India, in a joint venture with ONGC, is planning to build a 500-km pipeline to evacuate crude oil from the Mangala, Bhagyam, and Aishwarya fields.
The foundation laying ceremony of Oil and Natural Gas Corporation's petrochemical complex in Mangalore was postponed due to heavy rains.
A division bench of acting Chief Justice Bhaskar Bhattacharya and Justice J B Pardiwala while issuing notices on Thursday asked respondents to file reply within three weeks.
Oil and Natural Gas Corporation has discovered natural gas reserves in Krishna Godavari basin off the Andhra coast, Minister of State for Petroleum and Natural Gas Dinsha Patel said on Tuesday.
Oil and Natural Gas Corporation has lost out on a bid for an oil block in Angola to a Chinese-led consortium.
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 is in talks to acquire oil properties abroad worth $15 billion, company chairman Subir Raha said on Friday
If Raha's resistance to the petroleum ministry's interference turns into a plebiscite at the firm's AGM on Sept 21, the ministry may vote for his ouster.
Government-owned Oil and Natural Gas Corporation, the country's largest petro exploration company, wants to hire an ultra deep-sea drill rig, the daily cost of which is about Rs 5 crore.
This is the second major threat ONGC has faced in Assam in less than a year.
ONGC Q1 net profit for the quarter ended June 2006 rose 24 per cent to Rs 4,119 crore (Rs 41.19 billion) when compared to Rs 3,319 crore (Rs 33.19 billion) in the corresponding quarter last year.
Oil and Natural Gas Corp, the Cabinet Committee on Economic Affairs has shot down its proposal to acquire a 45 per cent stake in a Nigerian oil and gas field for close to $2-billion saying the deal was 'too risky.'
The revamping will start with its assets in Assam. The company will soon float tenders worth Rs 2,500 crore, a senior company executive said. ONGC has three fields in Assam - Rudrasagar, Lakwa and Geleki. The Rudrasagar field is almost 40 years old.
Oil and Natural Gas Corporation will hire international lawyers to deal with the matter of acquiring 15 per cent stake in the main production unit of embattled Russian oil firm Yukos.
Natural gas produced from C-Series fields is sold to GAIL which further markets it to end users.
In wake of the recent subversive activities in the country, ONGC -- under the leadership of Chairman R S Sharma -- reviewed the security aspects of the company, including those in its offshore operations at a high level meeting held at New Delhi on Tuesday.
Britains' Cairn Energy has offered to sell its stake in two oil and gas blocks in Krishna Godavari basin to Oil and Natural Gas Corporation for $100 million and 15 per cent equity in state-run firm's two blocks.\n\n\n\n
The changes in the domestic and global economy following the outbreak of the Covid-19 pandemic are altering the corporate profit league table in India. Reliance Industries (RIL), which topped the India Inc profit chart for more than a decade, lost out to State Bank of India (SBI) in the 2023-24 (FY24) April-June quarter (first quarter, or Q1). India's biggest lender reported a consolidated net profit (adjusted for exceptional gains and losses) of Rs 66,860 crore during the trailing 12-month (TTM) ended in June this year, ahead of RIL's TTM adjusted net profit of Rs 64,758 crore in the quarter.
ONGC was the top performer while private banking major ICICI Bank extended gains
Oil & Natural Gas Corporation (ONGC), Delhi, rode on a fine hat-trick from Akashdeep Singh to trounce Indian Oil Corporation (IOC), Bangalore, 5-2, while Bharat Petroleum Corporation Limited (BPCL), Bangalore, struggled to overcome South Central Railway (SCR), Secunderabad 1-0 in the semi-finals on Friday.
UBS Investment Research in its latest report estimated that ONGC and GSPC may get at least $5.5 per million British thermal unit for natural gas they will pump out from their respective Krishna-Godavari basin blocks. RIL is to get a fixed price of $4.2 per mmBtu for gas it would produce from Dhirubhai-1 and 3 fields in KG-D6 block from December-January, for the next five years.
The government on Tuesday increased the windfall profit tax on crude oil produced in the country and reduced the levy on exports of diesel. The tax, levied in the form of Special Additional Excise Duty or SAED, on domestically produced crude oil was increased to Rs 9,800 per tonne from Rs 9,050 a tonne, according to an official notification. SAED on the export of diesel was reduced to Rs 2 per litre from Rs 4 a litre and on jet fuel or ATF to nil from Rs 1, the notification said.
State-owned drilling firm ONGC has reported a more than 50 per cent decline in oil production at its fields off the Mumbai Coast due to the officers' strike, which entered the third day.
ONGC, which has cash surplus of about Rs 25,000 crore (Rs 250 billion), at present asks banks on its panel to quote interest rates they would offer for short-term deposits. However, the finance ministry wants this practice to be stopped and business given to state-run banks on nomination basis. The card rates of banks published on their websites are not applicable for bulk deposits for which banks quote the rates on demand, a senior company official said.
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'.
Analysts cut upstream firms' FY15 earnings estimates, while raising those for GAIL and Gujarat Gas.
Oil and Natural Gas Corporation would go ahead with its proposed investment of Rs 2,000 crore (Rs 20 billion) in Assam, its chairman and managing director Subir Raha said in Kolkata on Friday.
Cairn India produces 125,000 barrels of crude oil per day (6.25 million tonnes a year) from Mangala oilfield, the largest among the 15 discoveries in the Rajasthan block RJ-ON-90/1.
The reserves in Farzad-B are almost thrice the largest gas field in India.
ONGC's foreign arm had agreed to buy firm's stake in Kashagan field for $5 billion.
