State-owned Oil and Natural Gas Corp (ONGC) has signed a contract to hire a long-idled ultra-deepwater drillship of US-based Transocean for $412,000 (about Rs 2.39 crore) per day.
Oil and Natural Gas Corporation has deployed the best-in-class technologies in its Improved Oil Recovery and Enhanced Oil Recovery schemes on these fields.
Steel tycoon Lakshmi N Mittal's acquisition of 49 per cent stake in Hindustan Petroleum Corp's $3 billion Bhatinda refinery has violated his pact with Oil and Natural Gas Corp
ONGC sought opinion from the second highest law officer of the country after its partner Cairn Energy Plc stated that the UK firm's sale of majority stake in Cairn India to Vedanta Resources will not trigger pre-emption rights of the state- owned firm, a top oil ministry official said.
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.
So far, 254 blocks of oil and gas have been auctioned.
During the afternoon trade, TCS commanded a market value of over Rs 2,38,223 crore (Rs 2,382.23 billion), the highest for any listed company in India.
A deepwater well in a Krishna Godavari basin block operated by state-run Oil and Natural Gas Corp (ONGC) has been leaking gas for two months and there are now fears of environment damage due to the uncontrolled flow.
ONGC and Mittal had in July 2005 come together to form two joint ventures -- ONGC Mittal Energy Ltd and ONGC Mittal Energy Services Ltd.
Oil and Natural Gas Corporation will kick off its petrochemical foray this week when Prime Minister Manmohan Singh lays the foundation stone for its Rs 4,900-crore (Rs 49 billion) Aromatic Complex at Mangalore.
Oil and Natural Gas Corporation has blamed oil regulator V K Sibal of causing a crash in the company's shares by publicly rejecting a gas discovery contrary to upholding private sector claims in identical circumstances.
The oil and gas major ONGC is likely to offload 34 per cent equity in its special purpose vehicle ONGC Petro-additions formed for the upcoming Rs 13,500-crore
The government plans to more than double the price of natural gas produced by Oil and Natural Gas Corp (ONGC) to $4.20 per mmBtu, in a move that will help the state-run firm break even in gas business.
The chief minister of Rajasthan, Vasundhara Raje has asked the ONGC chairman to hold talks with the state government over the oil refinery to be set up in Barmer in Rajasthan.
ONGC-Mittal Energy Ltd -- joint venture of ONGC Videsh Ltd and Mittal Investment Sarl -- had in 2007 won the offshore block North Coast Marine Area-2 (NCMA-2), that is estimated to hold in-place reserves of two trillion cubic feet, beating Britain's Centrica Plc.
A day after a major blowout at a well of the Oil and Natural Gas Corp (ONGC) near Vadodara, operations to arrest the gas leakage continued on Saturday even as the crisis management team reached the site to take stock of the situation.
Oil and Natural Gas Corporation, India's largest oil producer, may go in for foreign debt to fund its overseas acquisitions and it has asked Moody's to do a credit rating.
The Cabinet Committee on Economic Affairs last evening gave OVL, the overseas arm of the state-run explorer, approval to invest its share of $204 million in the oilfield. Over and above these, the two have committed a minimum exploration investment of $165 million and an additional optional exploration expenditure of $235 million.
Finance Ministry is considering to sell 5 per cent stake in ONGC in the current fiscal, which could garner about Rs 17,000 crore to the exchequer.
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
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.
Oil and Natural Gas Corporation on Tuesday crossed the 2 lakh crore (Rs 2 trillion-) -mark in terms of market capitalisation, with its scrip touching a 52-week high of Rs 1,422 at the Bombay Stock Exchange.
The Supreme Court decision upholding the government right to decide on sale of natural gas has prompted the latter to exercise control over gas sales from Oil and Natural Gas Corporation's C-series field, off the Daman coast.
With the Petroleum Ministry opposing disinvestment of IOC in the market, government is exploring the option of selling its shares to other oil PSUs like ONGC and OIL.
He settled for a quick draw with Pavel Kotsur in the final round of the chess tournament.
In the wake of opposition from the law ministry and the Department of Public Enterprises, the petroleum ministry
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.
The red herring prospectus is likely to be filed with market regulator Securities and Exchange Board of India on September 5.
The government is hopeful that 5 per cent disinvestment in blue-chip oil company ONGC will be completed by December, although it has advised SAIL to put on hold its share sale for the time being.
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.
At 1437 hours, RIL commanded a market value of Rs 2,44,232 crore (Rs 2442.32 billion) -- higher than ONGC's Rs 2,40,922 crore (Rs 2,409.22 billion) which slipped to second place in the list of market valuation chart.
India's Oil and Natural Gas Corporation is well within its rights to improve its bid for takeover of PetroKazakhstan, but the state-owned oil major seems to be rethinking on whether it should do so at all.
Pune FC snapped ONGC's winning streak at the Ambedkar stadium with a solitary win in a 24th Round I-League clash in New Delhi on Sunday.
An expert panel approved policy for development of gas fields.
© 2026 Rediff.com - Investor Information - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances