Bangladesh currently faces a daily shortfall in gas supplies of 500 million cubic feet
The asset it owned by Venugopal Dhoot and a US oil and gas explorer.
The government will allow exploration firm Oil and Natural Gas Corporation and Gas Authority of India to market domestic LPG to increase penetration of cooking fuel to 75 per cent of the population.
Bharat Petroleum Corporation Limited (BPCL), Bangalore scored a surprise 4-1 win against Oil & Natural Gas Corporation (ONGC), Delhi in the final of the DCB Presents Aga Khan hockey tournament -- 2011, at the Bombay Gymkhana ground, on Saturday evening.
State-run Oil and Natural Gas Corporation is likely to bid for acquiring the assets of embattled Russian oil major Yukos, Petroleum secretary S C Tripathi said on Thursday.
OVL in 2007-08 recorded highest ever oil and gas production from its overseas assets. Crude oil production was up 18 per cent to 6.811 million tons, while gas output was marginally lower at 1.962 billion cubic meters. It earned a net profit of Rs 2,397 crore (Rs 23.97 billion).
Prime Minister designate Manmohan Singh on Thursday said the public sector units like the Oil and Natural Gas Corporation and Gail would not be privatised.
Oil and Natural Gas Corp has surpassed the Tatas in market capitalisation, with its market value of Rs 104,114.5 crore (Rs 1,041.14 billion) being more than that of all the 26 listed firms of the Tata Group.
Public sector Oil and Natural Gas Corporation on Monday said it had earned its highest ever net profit of Rs 14,431 crore (Rs 144.31 billion) in 2005-06, up 11 per cent from Rs 12,983 crore (Rs 129.83 billion) in the previous year.
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The Oil Ministry on October 31 issued orders asking upstream oil and gas producers like ONGC and Oil India Ltd to give Rs 16,729.74 crore (Rs 167.29 billion) to make up for 47 per cent of the Rs 35,328-crore (Rs 353.28 billion) revenue that retailers lost on selling diesel, domestic LPG and kerosene at government controlled rates in second quarter.
Over the past week, Sensex surged 858.56 points to 27,079.51, second straight weekly high
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
Oil and Natural Gas Corporation and GAIL India are likely to give 33 per cent lesser discounts on crude oil and cooking gas to the state-owned refining and marketing companies than estimated as oil prices have tumbled in the last three months and the refiners have started making profits.
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
State-run Oil and Natural Gas Corporation on Wednesday said the by its workers over Monday's helicopter accident had not affected crude oil production and operations were normal.
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 Petroleum Ministry may have watered down its preconditions for approving mining group Vedanta Resources' acquisition of Cairn India, but the $9.6 billion deal will still hinges on no-objection from partner ONGC.
Nigeria's new government is reviewing award of oil blocks in last couple of years after it received complaints of irregularities in their allotments, with some quarters expressing apprehensions that the licences won by India's ONGC-Mittal combine may also be under scanner.Although the identities of the blocks as well as the awardees are not immediately known, industry sources said some domestic and foreign entities that obtained licences through 'backdoor' may lose it.
Confusion prevailed in the Bombay Stock Exchange on Tuesday over a sudden rise in Oil and Natural Gas Corp share price to Rs 1,480, against the last close of Rs 1,256.95.\n\n
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.
In all, 61 companies have been pre-qualified to bid for 11 shallow water and 19 deepwater blocks in an international tender, according to Myanmar's Energy Ministry.
The 41 workers trapped in Uttarakhand's Silkyara tunnel for the last 11 days are likely to be rescued in the next few hours or by tomorrow, National Disaster Management Authority (NDMA) member Lt Gen (retd) Syed Ata Hasnain said on Thursday evening.
The 30-share Sensex, after opening on a strong footing, continued its upward march to hit an all-time high of 35,827.70. The NSE Nifty also hit a record intra-day high of 10,975.10, before finishing at 10,966.20, up 71.50 points.
Oil and Natural Gas Corporation, the country's largest oil and gas producer, is planning to sell 30 to 40 per cent each in two blocks in Vietnam to share the risks and drilling costs. ONGC owns 100 per cent in the two deepwater exploration blocks.
The government has nipped Oil and Natural Gas Corp's exclusive plans to extract liquid petroleum gas and C2/C3 from liquefied natural gas by also allowing gas utility GAIL India to do the same from the common LNG being imported by Petronet.
The government on Wednesday expressed confidence about the success of the ensuing public issue of Oil and Natural Gas Corporation.
The government plans to sell 5 per cent of its stake in Oil and Natural Gas Corporation through the further or follow-on public offering which at current prices can fetch up to Rs 13,500 crore (Rs 135 billion).
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.
State-owned Oil and Natural Gas Corporation is likely to win at least half of the 20 oil and gas block bids which closed on Tuesday.
ONGC demands certain incentives from the Andhra Pradesh government to go ahead with the Kakinada refinery project
The government has appointed Kotak Mahindra Capital Co, DSP Merrill Lynch and JM Morgan Stanley as book runners for the public issue of 10 per cent equity shares in state exploration firm Oil and Natural Gas Corporation.
India's Oil and Natural Gas Corp and GAIL (India) Ltd's equity in two gas rich offshore blocks in Myanmar have been cut following Myanmar's national oil company exercising its 'step-in' rights in the fields, gas from where will be sold to China.
Global funds, according to Christopher Wood, global head of equity strategy at Jefferies, are now beginning to pay more attention to India with the market now offering 30 companies with a market capitalisation over $25 billion.
State-owned Oil & Natural Gas Corp's (ONGC) Krishna Godavari basin well that had been leaking natural gas for over two months now, has stoped flowing gas, the government said.
State-own oil explorer Oil and Natural Gas Corporation and the Hinduja group have been offered 40 per cent stake in the development of phase-XII of the giant South Pars gas field of Iran.
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