Oil and Natural Gas Corporation is facing as many as 15 complaints from investors, but the grievances pertained to the government's offer to sell 10 per cent equity in the company.
The Cabinet Committee on Economic Affairs headed by Prime Minister Manmohan Singh allowed ONGC Videsh Ltd, the overseas investment arm of Oil and Natural Gas Corporation, to invest $167.84 million in taking 8.35 per cent stake in the pipeline.
ONGC signed an agreement with the Norwegian deepwater export to develop deepwater oil and gas blocks on Monday evening.
Oil and Natural Gas Corp, said on Monday it had signed an agreement to supply crude oil to refiner Bharat Petroleum Corp Ltd for two years ending March 2004.\n\n\n\n
ONGC Videsh Ltd, the overseas arm of state exploration firm Oil and Natural Gas Corporation, has submitted bids for acquiring two more oil blocks in Sudan.
The 28 discoveries include Charada structure and Matar field in Cambay basin (Gujarat) and YSAF in KG basin (off Andhra Pradesh coast), the company said. The discoveries made in FY'09 have been notified to the directorate general of hydrocarbons.
Indian Oil Corporation will buy 40 per cent of ONGC Videsh Ltd's stake in the Greater Nile Oil Project in Sudan.
The company also said it has made three oil and gas discoveries in Krishna Godavari basin and Tripura.
Cairn India is 25th on the list with 22.2 per cent CGR.
Oil and Natural Gas Corporation has received Rs 864 crore (Rs 8.64 billion) in final settlement of an insurance claim for the oil facility at Mumbai High that was gutted in a fire in July 2005.
Despite stagnant domestic production and challenging geopolitics, Oil and Natural Gas Corp has a plan to produce 130 million tonnes (mt) oil equivalent by 2030.
While the India-Myanmar gas pipeline continues to hang fire, Oil and Natural Gas Corporation may push for a gas-based power project in Myanmar to bring power to the power-starved north-eastern states
RIL shares attracted good buying support in a bullish market and closed up by 4.80 per cent at Rs 754.05 a piece on the Bombay Stock Exchange.
The post fell vacant after the government refused Subir Raha an extension at the helm of the company after his first five-year term expired in May.\n\n
State-run Oil and Natural Gas Corporation is the only Indian company ranked in terms of foreign assets that figures in a UN agency's list of top 100 transnational corporations from developing countries.
State-owned Oil and Natural Gas Corp plans to invest over Rs 130,000 crore (Rs 1300 billion) during 11th Plan Period (2007-12) in domestic oil and gas hunt, overseas acquisition and expansion of Mangalore refinery.
State-owned Oil and Natural Gas Corporation has bid to participate in Angola's $3.75-billion Sonaref project for building a 10 million tonne refinery at Lobito.
Oil and Natural Gas Corporation hopes to resume gas processing at its Hazira plant, whose closure due to floods had reduced the country's gas supplies by half, by August 14 or 15 as water has started receding from the facility.
ONGC on Thursday said it may invest $1.01 billion in Cairn India's Rajasthan oilfields even though the project offers negative returns as the public sector firm is liable to pay all the statutory levies.
The Oil and Natural Gas Corporation will pay Rs 852 crore (Rs 8.52 billion) for subsidising petrol and diesel during January-March quarter but state gas utility GAIL India has been spared from the subsidy burden.
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.
Under the stewardship of R S Sharma, ONGC climbed three places to take the top slot in the 2010 rankings released by Platts, one of the most respected global provider of energy and metals information, on Tuesday evening.
The windfall taxes on domestic crude oil production and fuel exports will generate close to $12 billion (Rs 94,800 crore) for the government in the remainder of the current fiscal while trimming profits of firms such as Reliance Industries Ltd and ONGC, Moody's Investors Service said Tuesday. On July 1, the government imposed windfall gain taxes on the export of petrol, diesel and aviation turbine fuel (ATF), and on the domestic production of crude oil. It has also mandated exporters to meet the requirements of the domestic market first.
ONGC had dethroned Tata Consultancy Services from the pole position in market-valuation charts on Wednesday, but its leadership position proved to be short-lived and it slipped to the second position in today's trading session.
India's Oil and Natural Gas Corp is still hoping to clinch the deal for takeover of PetroKazakhstan, with senior officials dashing-off to Russia to get Lukoil to stop the company's sale to China's CNPC.
'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 Corporation has made a huge gas find in the Krishna Godavari-Basin, ONGC Director Offshore Operations N K Mitra said in New Delhi on Friday.
Petroleum Minister Mani Shankar Aiyar will take up Oil and Natural Gas Corp's proposal to acquire 15-20 per cent stake in embattled Russian firm Yukos' core asset, Yuganskneftegaz, when he meets his Russian counterpart in Moscow on February 21.
Disinvestment secretary Sunil Mitra last month wrote to his counterpart in Petroleum ministry R S Pandey seeking comments on 'public offerings from Government's shareholding' in ONGC and IOC. While government has not allowed IOC and other retailers Bharat Petroleum and Hindustan Petroleum to raise petrol, diesel, domestic LPG and kerosene price in line with the cost, they have not been given the promised compensation.
Oil and Natural Gas Corporation and its partners will invest over $1 billion in exploring for oil and gas in the 14 oil and gas block they won in the fourth round of bidding under the new exploration licensing policy.
India is being increasingly marginalised in Iran's energy sector for reasons which range from political to economic. Its attempts at securing oil and gas blocks in the country and importing gas (as LNG and through a pipeline) seem to be hitting a dead end. The latest setback for India is the agreement between Iran and Chinese Sinopec for the Yadavaran oil and gas field. This effectively pushes out ONGC Videsh - the government's overseas acquisition vehicle.
Government on Tuesday decided to sell 10 per cent stake in India's largest profit making firm Oil and Natural Gas Corp and gas transmission monopoly Gail (India) Ltd.\n\n
The Union government will raise at least Rs 12,400 crore (Rs 124 billion) through the sale of five per cent stake in Oil and Natural Gas Corporation (ONGC), giving it a much-needed cushion in the run-up to the Budget.
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