In a strategic move to boost offshore energy exploration and operational efficiency, Oil and Natural Gas Corporation Ltd (ONGC) and Reliance Industries Ltd have signed an agreement to share resources such as supply vessels used in finding and producing oil and gas.
Oil & Natural Gas Corporation Ltd said it has not yet been granted clearance by government for acquiring equity stake in MRPL.
The Kolkata-based coal miner has tied up with the US-based Advance Resource International Inc for exploration and identification of the potential shale deposits within the company's coal blocks.
Oil & Natural Gas Corporation Ltd said its ONGC Videsh Ltd authorized plans to hold talks with British Gas for acquisition of their stake in Kashagan oil filed. However, no action has been taken in this regard, it said.
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.
Tripura Asset of ONGC has set a target of 60 lakh cubic metres of gas production per day which would be completed by three phases and Rs 1,946.22 crore (Rs 19.46 billion) has already been sanctioned by ONGC board for the first phase to be completed by 2011-12, the officials said.
State-owned oil producers are planning to upgrade security arrangements protecting their oil installations in Assam following a series of bomb blasts on Thursday that left many dead and injured.
To raise funds for Imperial buy, create 'acquisition currency'.
It is one leadership position the state-run energy giant ONGC could have done without, but nevertheless finds itself topping the list of corporates against whom investor complaints are pending for more than two months.
ONGC will submit a proposal to the Union government for acquiring Hindustan Petroleum Corporation Ltd's entire 16.97% stake in Mangalore Refinery & Petrochemicals Ltd at Rs 37.75 per share even though HPCL is not keen to divest its holding.
Oil & Natural Gas Corporation Ltd has posted a net profit of Rs 25.93 billion (Rs 2,593 cr) for the quarter ended December 31,
Long-distance runner Lalita Babar was named Sports Person of the Year at the India Sports Awards 2015 in New Delhi on Monday.
Oil explorer ONGC again emerged as the highest profit-making PSU of the country during 2012-13 while telecom major BSNL turned out to be the biggest loss-making enterprise, says the Economic Survey.
If there were an Olympics for bank frauds in India, Rishi Agarwal, founder and former chairman of ABG Shipyard Ltd, a nephew of the Ruia brothers of the Essar group, would bag the gold, pushing Nirav Modi to his right, says Tamal Bandyopadhyay.
FM is seen to step up the pace of sales of state assets and curb spending
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Three PSUs, three private firms join bid to acquire 40% stake in Haldia Petrochem.
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