Reliance Industries and British Gas have initiated legal proceedings against state-run GAIL (India) to recover about $150 million for gas supplied during June 2004 to March 31, 2005.
British energy firm BG Group on Thursday said it along with its partners state-owned Oil and Natural Gas Corp and Reliance Industries Ltd will invest $140 million in Panna oil and gas fields
Oil and Natural Gas Corp, the biggest player in the country's crude oil exploration and production business, is planning to invest around Rs 9,000 crore (Rs 90 billion) in phase two of the redevelopment of Bombay High.
Petroleum Minister Mani Shankar Aiyar on Thursday denied having presented to the Cabinet a proposal for raising LPG and kerosene prices.
The government has allowed Reliance Industries Ltd and Mangalore Refineries and Petrochemicals Ltd to sell kerosene outside the public distribution system, Petroleum Minister Mani Shankar Aiyar said on Thursday.
India will develop underground natural gas storage facilities as an insurance against disruption and supply shortfall.
ONGC has been making an annual loss of about Rs 700 crore (Rs 7 billion) on sale of gas at administered prices and hoped the government will soon decide on hiking the fuel price. the present price of Rs 3.2 per cubic meters that ONGC gets for gas produced from fields given to it on nomination basis, was not sustainable. Price of about 80% of gas produced by ONGC is regulated by the Govt. PetroMin had recommended 16% increase in price of gas produced by ONGC and Oil India.
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 government is expecting a 'huge' response to its largest ever auction of 55 oil and gas blocks for which bids close on Friday.
India's largest oil producer Oil and Natural Gas Corp and the country's largest firm Indian Oil Corp may get two chief executives each to manage their mammoth operations.
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.
BG Group of UK is planning to buy stake in ONGC's oil and gas blocks.
"There is no change in situation. It may take a couple of days for the water to recede and restart of the facility," an ONGC official said.\n\n
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 government on Wednesday said there was no proposal to either merge Hindustan Petroleum and Bharat Petroleum with Oil and Natural Gas Corp or Oil India Ltd with Indian Oil Corporation.
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
ONGC Videsh Ltd, the overseas arm of Oil and Natural Gas Corp, has signed a $194 million contract with the Sudan Government for construction of a 741-km long multi-product pipeline.
ONGC Videsh Ltd, the overseas arm of state-owned Oil and Natural Gas Corp, will buy a 15 per cent stake in Brazilian oil field from Royal Dutch/Shell.
Oil and Natural Gas Corp on Friday said it has entered into a Memorandum of Understanding with Indian Airlines to take two aircraft on lease to meet its operational requirements.
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.
The consortium of Oil and Natural Gas Corp, Reliance Industries and BG Group of UK will continue selling gas from Panna/Mukta and Tapti fields to state-run gas firm GAIL
Oil and Natural Gas Corp on Tuesday disputed claims made by gas utility GAIL (India) Ltd of an agreement with the operators of Panna/Mukta and Tapti fields to continue selling gas beyond March 31.
ONGC Videsh Ltd, the overseas arm of state-owned Oil and Natural Gas Corp, will acquire US energy firm ExxonMobil's 30 per cent stake
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
The revised sale documents for public float of 10 per cent government equity in state-owned oil company Oil and Natural Gas Corp is expected to be filed with market regulator Securities and Exchange Board of India, next week.
The government on Wednesday allowed Mangalore Refinery and Petrochemicals Ltd, a subsidiary of the state-owned Oil and Natural Gas Corp, to set up 500 petrol stations
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.
Buoyed by the proposed public offerings in six companies, including Oil and Natural Gas Corp and Gas Authority of India Ltd, the government on Tuesday set an ambitious target of mobilising Rs 16,000 crore
The Securities and Exchange Board of India is ready to relax some of the public issue norms to facilitate divestment of government stake in public sector undertakings
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.'
Divestment Minister Arun Shourie said on Thursday that early elections would help speed up the process of privatisation.
ONGC Videsh Ltd and China National Petroleum Corp have for the first time ever made a joint bid for acquiring an oilfield abroad.
The petroleum ministry has sought legal advice on payment of production tax by Cairn Energy of the UK on the crude oil it plans to produce from the Barmer district discovery in Rajasthan.
Oil and Natural Gas Corp is spending 93 per cent of its total capital expenditure of Rs 10,850 crore (Rs 108.50 billion) in the current fiscal on its core activities of oil and gas exploration and production, according to its chairman and managing di
Russian oil and gas firm Gazprom will not partner India's state-run Oil and Natural Gas Corp in bidding for the subsidiary company of troubled Russian energy giant Yukos.
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.
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