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.
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.
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.
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.
Oil and Natural Gas Corporation is in talks to acquire oil properties abroad worth $15 billion, company chairman Subir Raha said on Friday
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.
The government on Monday decided to call off the strategic divestment of Pawan Hans as the successful bidding consortium Star9 Mobility Pvt Ltd was disqualified in view of pending legal cases. Pawan Hans is a 51:49 joint venture of the government and ONGC. The government had in April last year decided to sell the helicopter service provider for Rs 211.14 crore to Star9 Mobility Pvt Ltd -- a consortium of Big Charter Private Ltd, Maharaja Aviation Private Ltd and Almas Global Opportunity Fund SPC.
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.
This is the second major threat ONGC has faced in Assam in less than a year.
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.
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.
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.'
Natural gas produced from C-Series fields is sold to GAIL which further markets it to end users.
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.
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.
ONGC was the top performer while private banking major ICICI Bank extended gains
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
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.
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.
Analysts cut upstream firms' FY15 earnings estimates, while raising those for GAIL and Gujarat Gas.
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.
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.
The reserves in Farzad-B are almost thrice the largest gas field in India.
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.
ONGC's foreign arm had agreed to buy firm's stake in Kashagan field for $5 billion.
The Rs 31,000-crore refinery and petrochemical plant being planned by Oil and Natural Gas Corporation in Kakinada in Andhra Pradesh is likely to have a new partner -- the Bangalore-based GMR group. GMR is the latest to join the long line of suitors, including the Hinduja group, Reliance Industries and Essar Oil, for the refinery.
Government plans to sell 5 per cent of its shareholding in ONGC in the follow-on public offer next month.
