Owing to pressure from the Kazakh government, CNPC agreed to sell a 33-per cent stake in PetroKazakhstan to Kazakhstan's state-owned oil company KazMunaiGaz for about $1.4 billion.
Giving a shot in the arm to ONGC chairman Subir Raha, who has been resisting appointment of additional government directors on the company board, the department of public enterprises on Wednesday said their number cannot exceed two.
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.
ONGC on Friday said it hopes to begin marketing of LPG and Kerosene soon.
Dynamic manager and financial wizard R S Sharma will be the new chairman and managing director of India's most valuable company, Oil and Natural Gas Corporation.
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
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.
The Oil and Natural Gas Corporation on Friday said the Mangalore Refineries and Petrochemicals Ltd would make profits during the current fiscal if the Karnataka government considered its request of correcting anomalies in duties and taxes.
Oil and Natural Gas Corporation is considering the option of setting up a joint venture or a wholly owned subsidiary for its petroleum retailing foray.
State-run Oil and Natural Gas Corporation on Wednesday said it will bring to production three offshore fields over the next 18 months.
Oil and Natural Gas Corporation on Thursday said its investments for exploration of oil and gas in India and acquisition of overseas assets would be impacted if government increases the company's subsidy burden.
PM to deliver keynote address at Petrotech '03
Oil and Natural Gas Corporation has been awarded 'Best Deals of the Year 2004' trophy by Asiamoney, Asia's leading capital markets publication.
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 on Thursday said there was no case for bonus shares as the company's equity base was already very large.
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 Corporation will award six small onshore oil fields this month to private companies for bringing them to production in the next two-three years
The Oil and Natural Gas Corporation will invest Rs 33,000 crore (Rs 330 billion) in the next five years on oil and gas exploration, discovery and asset building, a top company official has said.
The government delay in approving ONGC Videsh Ltd's investment in two oil exploration blocks in Nigeria has cost the Indian flagship firm a majority stake, Subir Raha, chairman, ONGC said.
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.
State-run Oil and Natural Gas Corp will invest around $15 million in developing Chinnewala Tibba oil and gas discovery in Jaisalmer district of Rajasthan.
ONGC Videsh Ltd and China National Petroleum Corp have for the first time ever made a joint bid for acquiring an oilfield abroad.
Oil and Natural Gas Corporation said on Friday it was willing to buyback the company's holding with IOC and GAIL and has no immediate plans to divest the stake it holds in IOC and GAIL. \n
The Oil and Natural Gas Corporation plans to invest around Rs 750 crore (Rs 7.50 billion) on upgrading the product quality and debottlenecking in Mangalore Refinery and Petrochemicals Ltd.
ONGC Videsh Ltd, the overseas arm of state-owned Oil and Natural Gas Corp, will invest close to $150 million in the seven oil and gas blocks it recently acquired in Cuba.
State-run Oil and Natural Gas Corp is in the race for picking up Canadian firm EnCana's stake in a cluster of oil fields in Ecuador and is also talking to Russia for picking up stake in assets of oil major Yukos.
India Inc has learnt to take risks and compete with global players to create wealth, industry experts said on Monday.
Bajaj Auto's Rahul Bajaj, Sunil Mittal of Bharti and Oil and Natural Gas Corp's Subir Raha are among the 20 finalists announced by Ernst and Young for the E&Y Entreprenuer of the Year award.
ONGC Videsh Ltd, the overseas arm of state-run Oil and Natural Gas Corp, is eyeing oil and gas properties in West Africa, CIS countries and Latin America with plan to invest one billion dollars a year in acquiring equity oil.
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