BG Group of UK is planning to buy stake in ONGC's oil and gas blocks.
A division bench of acting Chief Justice Bhaskar Bhattacharya and Justice J B Pardiwala while issuing notices on Thursday asked respondents to file reply within three weeks.
When the news of steel baron LN Mittal getting into the energy sector without his Indian exploration and production partner, Oil and Natural Gas Corporation surfaced, there was much speculation about whether the alliance was on the verge of a break-u
Oil and Natural Gas Corporation will restart its flood-hit Hazira gas plant in Gujarat on August 19, two-days ahead of schedule to avert a fuel supply crisis particularly for CNG operations in New Delhi.
Putting aside the plan for setting up a greenfield refinery in the state, Cairn Energy India, in a joint venture with ONGC, is planning to build a 500-km pipeline to evacuate crude oil from the Mangala, Bhagyam, and Aishwarya fields.
The foundation laying ceremony of Oil and Natural Gas Corporation's petrochemical complex in Mangalore was postponed due to heavy rains.
Oil and Natural Gas Corporation has discovered natural gas reserves in Krishna Godavari basin off the Andhra coast, Minister of State for Petroleum and Natural Gas Dinsha Patel said on Tuesday.
Oil and Natural Gas Corporation has lost out on a bid for an oil block in Angola to a Chinese-led consortium.
Gail India subsidiary Mahanagar Gas (MGL) on Friday announced a steep reduction in the retail price of compressed natural gas (CNG) by Rs 8/kg and domestic PNG (piped natural gas) by Rs 5/SCM across its licenced area. The move comes on the heels of the Centre revising the pricing methodology of domestically-produced natural gas on Thursday as proposed by the Kirit Parikh committee and following it with the new price announcement earlier in the day. In February, the city gas distributor reduced its CNG price by Rs 2.5/kg but prices are still around 80 per cent more than those in April last.
Capital expenditure (capex) by 54 large central public sector enterprises (CPSEs) and five departmental arms with an annual capex target of Rs 100 crore and above has reached around 42.5 per cent of their annual target of about Rs 7.33 trillion in this financial year so far, a senior official from the Ministry of Finance told Business Standard. "The Centre is pushing the big public undertakings in the infrastructure and refinery sector to achieve 90 per cent of their target by the end of the third quarter," he said. The capex by this group of CPSEs stands at around Rs 3.1 trillion in the April-August period so far.
ONGC was the top performer while private banking major ICICI Bank extended gains
A six-inch pipe has been laid at the Silkyara tunnel through which nutritious food and medicines could be supplied to the 41 labourers, trapped for over a week after parts of the under-construction structure collapsed following a landslide.
Government-owned Oil and Natural Gas Corporation, the country's largest petro exploration company, wants to hire an ultra deep-sea drill rig, the daily cost of which is about Rs 5 crore.
Oil and Natural Gas Corporation is in talks to acquire oil properties abroad worth $15 billion, company chairman Subir Raha said on Friday
If Raha's resistance to the petroleum ministry's interference turns into a plebiscite at the firm's AGM on Sept 21, the ministry may vote for his ouster.
Natural gas produced from C-Series fields is sold to GAIL which further markets it to end users.
This is the second major threat ONGC has faced in Assam in less than a year.
The revamping will start with its assets in Assam. The company will soon float tenders worth Rs 2,500 crore, a senior company executive said. ONGC has three fields in Assam - Rudrasagar, Lakwa and Geleki. The Rudrasagar field is almost 40 years old.
ONGC Q1 net profit for the quarter ended June 2006 rose 24 per cent to Rs 4,119 crore (Rs 41.19 billion) when compared to Rs 3,319 crore (Rs 33.19 billion) in the corresponding quarter last year.
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.'
In wake of the recent subversive activities in the country, ONGC -- under the leadership of Chairman R S Sharma -- reviewed the security aspects of the company, including those in its offshore operations at a high level meeting held at New Delhi on Tuesday.
Oil and Natural Gas Corporation will hire international lawyers to deal with the matter of acquiring 15 per cent stake in the main production unit of embattled Russian oil firm Yukos.
Oil & Natural Gas Corporation (ONGC), Delhi, rode on a fine hat-trick from Akashdeep Singh to trounce Indian Oil Corporation (IOC), Bangalore, 5-2, while Bharat Petroleum Corporation Limited (BPCL), Bangalore, struggled to overcome South Central Railway (SCR), Secunderabad 1-0 in the semi-finals on Friday.
Britains' Cairn Energy has offered to sell its stake in two oil and gas blocks in Krishna Godavari basin to Oil and Natural Gas Corporation for $100 million and 15 per cent equity in state-run firm's two blocks.\n\n\n\n
Analysts cut upstream firms' FY15 earnings estimates, while raising those for GAIL and Gujarat Gas.
The reserves in Farzad-B are almost thrice the largest gas field in India.
UBS Investment Research in its latest report estimated that ONGC and GSPC may get at least $5.5 per million British thermal unit for natural gas they will pump out from their respective Krishna-Godavari basin blocks. RIL is to get a fixed price of $4.2 per mmBtu for gas it would produce from Dhirubhai-1 and 3 fields in KG-D6 block from December-January, for the next five years.
ONGC's foreign arm had agreed to buy firm's stake in Kashagan field for $5 billion.
State-owned drilling firm ONGC has reported a more than 50 per cent decline in oil production at its fields off the Mumbai Coast due to the officers' strike, which entered the third day.
ONGC, which has cash surplus of about Rs 25,000 crore (Rs 250 billion), at present asks banks on its panel to quote interest rates they would offer for short-term deposits. However, the finance ministry wants this practice to be stopped and business given to state-run banks on nomination basis. The card rates of banks published on their websites are not applicable for bulk deposits for which banks quote the rates on demand, a senior company official said.
Cairn India produces 125,000 barrels of crude oil per day (6.25 million tonnes a year) from Mangala oilfield, the largest among the 15 discoveries in the Rajasthan block RJ-ON-90/1.
Oil and Natural Gas Corporation would go ahead with its proposed investment of Rs 2,000 crore (Rs 20 billion) in Assam, its chairman and managing director Subir Raha said in Kolkata on Friday.
'I would not suggest buying these stocks in the dip, as the upside in profit is dented without a safety net for a rainy day.'
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