Oil and Natural Gas Corp, India's largest oil producer, plans to set up new refineries at Rajasthan and Kakinada in Andhra Pradesh, Petroleum Minister Mani Shankar Aiyar said on Thursday.\n\n
Reliance Industries on Tuesday toppled state-run oil major ONGC to become the country's second most valued firm after TCS.
The follow-on public offer was originally scheduled to open on March 15, but has now been rescheduled.
ONGC on Monday said it was still in reckoning for the confiscated assets of Russian oil firm Yukos and added Moscow may give it a stake in Rosneft's Vankor oil and gas field if the deal falls.
Oil and Natural Gas Corp, which had last year firmed up an investment of Rs 34,012 crore (USD 5.076.37 billion) in bringing to production 10 oil and gas discoveries in its Bay of Bengal block KG-DWN-98/2 (KG-D5), plans to invest another Rs 21,528.10 crore (USD 3.2 billion) in developing the ultra-deepsea UD-1 find.
Oil and Natural Gas Corporation on Wednesday awarded six of its small oil fields in Assam and Gujarat to private firms for development and production.
Navratna and petroleum major ONGC will sponsor the ninth National Football League beginning in Kolkata on January 12.
IOC is building a 5 million tonnes per annum LNG terminal at Ennore near Chennai which is to be completed by 2017.
Petroleo Brasileiro SA or Petrobras, Brazil's state-controlled oil firm, has offered ONGC its 15 per cent interest in the Krishna Godavari basin block that sits next to Reliance Industries prolific KG-D6 fields without any cost.
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.
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.
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.
Indian Oil Corporation on Thursday sold a fifth of its 9.2 per cent stake in Oil and Natural Gas Corporation to garner Rs 3,685 crore (Rs 36.85 billion).
ONGC Videsh and Cairns India have bid for oil exploration blocks in Sri Lanka.
The stage for negotiations to settle the Krishna-Godavari basin dispute is long over, says a government official
Oil regulator DGH has recommended stiff penalties on state-owned Oil and Natural Gas Corp and Reliance Industries Ltd for default on commitments made by them on oil and gas exploration blocks awarded under NELP.
In May 1992, ONGC handed over gas pipelines and marketing functions connected with natural gas to GAIL. However, it continues to be the marketing agency in certain isolated pockets.
ONGC went for a stock split in preparation for a follow-on issue that is expected to hit the market in the second quarter of 2011-12.
Oil production from ONGC's Mumbai high field, whose output was hit by a major fire last month, is expected to reach the normal level of 265,000 barrels per day by April 2006, a senior company official said.
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.
Oil and Natural Gas Corporation declared on Tuesday its highest-ever interim dividend of Rs 18 on shares of Rs 10 each (180 per cent) for 2006-2007.
The Oil and Natural Gas Corp (ONGC), India's biggest oil producer, will restore in two weeks time about 70 per cent of the 100,000 barrels per day output lost due to the massive fire at platform in Mumbai offshore.
The government has ordered Oil and Natural Gas Corp (ONGC) to pay a near-record Rs 13,764 crore as fuel subsidy for the December quarter, a move that will dent the firm's profitability.
Oil and Natural Gas Corporation may take up the 20 per cent stake in a $ 2 billion liquefied natural gas project in Iran.
Oil and Natural Gas Corporation, which has seen two major mishaps in the last two years at its Bombay High oilfields, on Thursday came out with a contingency plan for effective disaster management.\n\n
State-owned Oil and Natural Gas Corp has bid for Russia's Trebs and Titov oilfields and is pitted against local giant LukOil and a venture owned by energy major BP Plc for rights to develop the giant reserves.
India on Thursday described as 'matter of serious concern' reports that said some members of the Indian community in Canadian province of British Columbia received 'extortion calls'.
About two million tonnes (mt) of condensates produced by the oil company were taken into account while apportioning the subsidy burden.
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.
DG Shipping had in May banned operations of all vessels that are more than 25 years old. ONGC has more than 100 vessels operating off the East and West coast providing supporting services to oil and gas production. A Reliance Industries executive said the company faced a similar fate for its 40-plus vessels working on bringing the gas field in Krishna Godavari basin to production.
India's corporate sector is likely to report a slowdown in revenue growth and earnings for the July-September 2023 period (Q2FY24), according to earnings estimates by brokerages, after the country's top listed companies posted higher than expected profits for the first quarter. The combined net profit of Nifty50 companies, based on brokerage estimates, is expected to have grown by 19.6 per cent year-on-year (Y-o-Y) to Rs 1.75 trillion in Q2FY24 - a sharp deceleration from 37.6 per cent Y-o-Y growth in the combined earnings of index companies in the April-June 2023 period. According to estimates, the combined earnings in the second quarter would be down 8.8 per cent on a quarter-on-quarter (Q-o-Q) basis and the lowest in the past three quarters.
The ONGC-Hinduja combine would meet Iranian the authorities around mid-April to finalise 'participating agreement' for the development of Phase-12 of the giant South Pars gas field and South Azadegan oilfield, ONGC Chairman and Managing Director R S Sharma told reporters in New Delhi on Wednesday. The consortia was in Tehran earlier this month to do technical due diligence for the two fields but ended up being shown old data for the Phase-12 and no data of South Azadegan.
Russian oil supplies to India will continue to flow unhindered and suppliers will come up with ways to sidestep secondary sanctions, a Russian official told Business Standard.
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