Keyword : ONGC

Petrol & diesel prices cut, crude oil down

Oil marketing companies have cut petrol prices by 49 paise per litre and diesel will be cheaper by Rs 1.21 a litre even as crude prices in the international market continue to react to Iran nuclear

Evening digest: Govt sets up expert group on caste census data

Amid a controversy over not releasing of caste census data, the government today set up an expert group headed by NITI Ayog Vice-Chairman Arvind Panagariya to collate caste count even as it blamed

AK Srinivasan to be ONGC’s director of finance

Oil and Natural Gas Corp. Ltd (ONGC) has appointed AK Srinivasan as the new director (finance) of the company. He was elevated to the post after his presidential appointment to the ONGC Board. He h

ONGC, Oil India seek cut in cess

State-owned oil producers ONGC and Oil India along with private sector Cairn India have asked the government to cut cess on crude oil in view of slump in prices. The Oil Industry (De

Varanasi’s facelift to be funded by public sector units

The holy city of Varanasi is getting benefits of corporate social responsibility funds of various public sector undertakings. In order to promote solar power and also to overcome pow

PSUs may have to pay higher dividend to govt

To meet the union budget estimates, all profit-making public-sector undertakings (PSU) have been asked to pay a minimum dividend of 30 per cent of post-tax profit for 2015-16. Earlier, only the ups

IOC to spend Rs 32,500 crore on oil exploration, production

Indian Oil Corporation is planning to spend about $5 billion (nearly Rs 32,500 crore) to expand its exploration and production business. More than half the amount is likely to be ear

ONGC’s net profit declines

ONGC reported a weak set of second quarter earnings with net profit declining 31 percent to Rs 4,842 crore and revenue falling 9.4 percent to Rs 20,679 crore.  Last financial ye

Govt waives customs duty for ONGC, Oil India

The government has exempted customs duty on goods imported for producing oil and gas from 69 oil fields of ONGC and Oil India. This aims at boosting domestic production of oil and ga

Oil, gas production from ONGC, OIL below target

Aging fields, frequent bandhs and blockades, and contractual issues among others are the reasons for low production of crude oil and natural gas from Oil India Limited (OIL) and Oil and Natural Gas

Oil, gas production from ONGC, OIL below target: Government

 Ageing fields, frequent blockades, and contractual issues, among others are the reasons for low production of crude oil and natural gas from Oil India (OIL) and ONGC. The government

ONGC, OIL to face royalty burden worth $1 bn

 Government-owned Oil and Natural Gas Corporation Limited (ONGC) and Oil India Limited (OIL) will face an additional royalty burden of more than $1 billion.   The Na

“ONGC should merge with other state-run refiners”

Oil and Natural Gas Corporation (ONGC), India`s largest oil and gas exploration and production company, should merge with a refining corporation such as Indian Oil, Bharat Petroleum or Hindustan Pe

Merger of ONGC and OIL worth deliberating: Dharmendra Pradhan

The merger of state-owned oil firms could create synergy and boost efficiency, and the idea is worth deliberating, said petroleum and natural gas minister Dharmendra Pradhan. The ide

Centre’s disinvestment plan set to get a major boost

 This financial year promises to be a bumper year for the government when it comes to disinvestment revenue. As many as 30 cash-rich PSUs including ONGC, NTPC, Power Grid, ONGC Videsh and BHEL

ONGC hires consultants to evaluate GSPC KG block reserves

 State-owned ONGC has hired US-based Ryder Scott Petroleum Consultants to assess natural gas reserves in Gujarat State Petroleum Corp`s (GSPC) KG (Deendayal) block before deciding to buy a sta

HPCL wants ONGC to cut stake in MRPL

 State-run Hindustan Petroleum Corp. Ltd (HPCL) wants Oil and Natural Gas Corp. Ltd (ONGC) to divest a part of its stake in the Mangalore Refineries and Petrochemicals Ltd (MRPL) so that it ca

ONGC to acquire additional 11 percent stake in Russia’s Vankorneft

 State-run Oil and Natural Gas Corp. Ltd (ONGC) has signed definitive agreements with Russia’s national oil company Rosneft PJSC to acquire an additional 11 percent stake in its unit, JS

PSU employees to play larger role in disinvestment

 Market regulator Sebi has agreed to the government’s proposal to give employees of central public sector undertakings (PSUs) a larger role to play in the disinvestment process.

ONGC Videsh’s stake acquisition in JSC Vankorneft approved

The Cabinet Committee on Economic Affairs has given its approval to an acquisition by ONGC Videsh Limited (OVL) for 11 percent stake in JSC Vankorneft from M/s Rosneft Oil Company (Rosneft), the Na

ONGC beats Infosys in market capitalisation

 Oil and Natural Gas Corporation Ltd (ONGC), country’s largest oil and gas exploration and production company, beat India’s second largest software exporter Infosys Ltd to become t

ONGC, 6 others lose Rs 72,452 crore market value

 State-run oil and gas explorer Oil and Natural Gas Corporation (ONGC) emerged as the worst hit, as market valuation of seven of the 10 most valued Indian companies plummeted by Rs 72,452.27 c

No proposal to acquire GSPC by ONGC

There is no proposal to acquire Gujarat State Petroleum Corporation (GSPC) by Oil and Natural Gas Corporation Limited (ONGC), minister of state (I/C) for petroleum and natural gas Dharmendra Pradha

8 PSUs declare bonus shares

 Eight public sector undertaking (PSUs) companies have announced bonus shares for their shareholders thus far in the current calendar year 2016, reported Business Standard. Statistic

MRPL to raise refining capacity

The company is also looking at scaling up its petrochemical production capacity to clock larger margins, MRPL managing director H Kumar told PTI. “We have asked Engineers India

ONGC to buy GSPC’s KG basin block

 The Oil and Natural Gas Corp. Ltd (ONGC), a Maharatna PSU, has decided to buy an 80 percent stake and development rights in Gujarat State Petroleum Corp. Ltd’s (GSPC’s) Deen Dayal

Indian PSUs: Is a metamorphosis possible?

BSNL was incurring `8,000 crore loss in 2014. But today it has earned an operating profit of `672 crore in just one and half years’ time,” proudly claimed IT minister Ravi Shankar Prasa

Mangalore Refinery, Chennai Petroleum hit 52-week high on BSE

 Shares of refineries and petro products firms – Mangalore Refinery and Petrochemicals (MRPL) and Chennai Petroleum Corporation (CPCL), miniratna one category undertakings – have r

ONGC begins to restore Varanasi kunds

 In order to restore the beauty and serenity of the kunds, Oil and Natural Gas Corporation Ltd (ONGC), an energy maharatna, is all set to clean the four kunds based at Varanasi -- Durga kund,

ONGC unveils fuel conservation campaign Saksham

Oil and Natural Gas Corporation (ONGC) has unveiled a fuel conservation campaign rechristened as Saksham (Sanrakshan Kshamta Mahotsav). Minister of state for petroleum and natural gas, Dharamendr

ONGC becomes first PSU to unveil portal on gender sensitisation

In a first, oil and natural gas corporation (ONGC) has become the first public sector enterprise to introduce a unique portal on gender sensitisation to impart training on prevention of sexual hara

ONGC gets Andhra Pradesh support for oil and gas exploration and production

Andhra Pradesh government and ONGC — a Maharatna PSU signed an agreement on January 27 to take forward all critical oil and gas exploration and production (E&P) activities to the state.

ONGC office wins sustainable building design award

 The state-of-the-art corporate office of oil and natural gas corporation (ONGC), Pandit Deen Dayal Uphadhayay Urja Bhawan,  in New Delhi has won leadership in energy and environmental de

A mirage called disinvestment

The government is getting ambitious. It wants to divest some PSU shareholding and raise a staggering Rs 72,500 crore during the 2017-18 fiscal. The mood is upbeat among finance ministry mandarins d

Contract for 31 oil fields awarded in Tamil Nadu

The Cabinet Committee on Economic Affairs (CCEA) has approved the award of 31 contract areas as part of the Discovered Small Field (DSF) Bid Round 2016. These fields were offered under new policy f

India’s largest petrochemical plant up and running

  Prime minister Narendra Modi on Tuesday dedicated ONGC Petro additions Ltd (OPaL) plant to the nation at a function at Bharuch, Gujarat.   OPaL is

Petroleum minister flags off ONGC Everest Expedition 2017

In what could be seen as a first of its kind initiative by any corporate to scale Mount Everest, petroleum minister of state, Dharmendra Pradhan flagged off the ONGC Everest Expedition today at a

CAG spots irregularities among PSUs

  The Comptroller and Auditor General (CAG) has made as many as 57 individual observations relating to 36 Central Public Sector Enterprises (CPSEs), with a total financial implic

ONGC CMD nominated to governing body of CSIR

The Prime Minister of India, in his capacity as ex-officio President of CSIR, has nominated Chairman and Managing Director of ONGC limited, Dinesh K Sarraf as a member of governing body of Council

OTPC clocks its highest ever annual generation of power

 ONGC Tripura Power Company (OTPC), a joint venture company of ONGC, IL&FS, IDFC and Tripura government, has declared maiden dividend of 7.5 percent of paid-up equity share capital of Rs 1

ONGC Foundation gives aid to National Cancer Institute

 ONGC has granted Rs 100 crore to turn the vision of affordable world class cancer care facilities in central India into reality. The National Cancer Institute’s (NCI) first phase at Nag

ONGC to support organic farming in Telangana

 Oil and natural gas corporation limited (ONGC) has said that it is committed to enable organic farming in the country in line with the prime minister’s goal of doubling farmers’ i

Modi unveils ONGC’s corporate office

 Prime minister Narendra Modi on Monday unveiled ONGC’s new corporate office - Deendayal Urja Bhavan, during the launch of PM Saubhagya Yojna, the government’s flagship scheme to p

Oil PSUs create corpus of Rs 320 crore to support start-ups

 Ten public sector undertakings of ministry of petroleum and natural gas, including IOCL, ONGC, EIL, OIL, NRL, BPCL, HPCL, GAIL and MRPL, have created a corpus of Rs 320 crore to support start

A slick move

Namibia has joined the growing list of countries where India has made investments in oil and gas blocks. ONGC Videsh has acquired a 30 percent stake in an oil block in this southwest African nation

Oil discovered near Mumbai High Field

Oil has been discovered from a well near Mumbai High field, parliament was informed. Union minister Dharmendra Pradhan said that Oil and Natural Gas Corporation (ONGC) Limited has recentl

ONGC building gets zero waste accreditation

ONGC’s NBP Green Heights has been certified as a zero waste build by Municipal Corporation of Greater Mumbai. It was based on the audit carried out by a team of experts from MC

ONGC to make efficient electric chulha

 ONGC has embarked on an ambitious project on innovation towards making an “Efficient Electric Chulha (stove)”.  ONGC has also launched a nationwide campaign to seek

ONGC acquires 51.11% stake in HPCL

In its bid to create an oil major to match the performance of global and domestic oil and gas players, Oil and Natural Gas Corporation Ltd (ONGC) board has approved the acquisition of entire 51.11

Govt to bid 60 small fields having 194.65 MMT oil and oil equivalent gas

The cabinet has approved the plan to conduct round two of Discovered Small Field (DSF) auction of 60 discovered small fields/un-monetised discoveries. Out of these, 22 fields/discove

A well-oiled move

The acquisition of the government’s 51.11 percent stake in Hindustan Petroleum Corporation Limited (HPCL) by Oil and Natural Gas Corporation (ONGC) is a step ahead in the creation of an integ

ONGC Videsh announces approval of Golfinho-Atum field in Mozambique offshore

The government of Mozambique has accorded approval for the development plan for Golfinho-Atum natural gas field in the Area 1 block in Rovuma Offshore Basin of Mozambique. ONGC Videsh Limited recen

Mumbai gets its first Yoga garden

Petroleum minister Dharmendra Pradhan inaugurated Mumbai’s first Yoga garden at Bandra Reclamation Sea link Promenade. The garden is meant to sensitise people about Yoga as a means of healthy

ONGC employees bag 13 medals at the Gold Coast CWG

ONGC sportspersons outshone other participants in their respective categories in the recently concluded Commonwealth Games in Gold Coast, Australia. ONGCians bagged 13 medals including 5 Gold, 3 Si

ONGC team summits Mt Kanchenjunga

A team of ONGC has successfully scaled the third highest and most challenging peak, Mt Kanchenjunga. The first group comprising five ONGC employees completed the mission on May 20, 2018 while the s

ONGC mulls new reporting standard to improve credit rating

Oil and Natural Gas Corporation (ONGC) is contemplating to adopt a new reporting standard with respect to environment, social and corporate governance (ESG), which is being benchmarked on the inter

“Diversity is our tool to handle oil price volatility”

The overseas investment arm of the state-owned Oil and Natural Gas Corporation (ONGC), OVL has been witnessing profits due to higher oil output. In an interaction with Praggya Guptaa, O

Govt relaxes production sharing contracts of pre-NELP and NELP blocks, lowers ONGC burden

In order to boost domestic production of hydrocarbon resources, the centre has approved the policy framework for streamlining operations of production sharing contracts (PSCs) in pre-NELP (new expl

Five oil PSUs ink JV pact for north east gas grid

A joint venture agreement was signed amongst five petroleum and natural gas PSUs namely IOCL, ONGC, GAIL, OIL and NRL in Guwahati for executing the north-east natural gas pipeline grid project. It

ONGC ranks 197 in Fortune Global 500 list

Oil and Natural Gas Corporation Ltd (ONGC) has been ranked 197 in the coveted Fortune Global 500 list. The ranking has come on the heels of robust fiscal and physical performance in 2018-19 FY, in-

Sudan govt wants ONGC Videsh to withdraw arbitration process

A Sudanese ministerial delegation recently paid a visit to ONGC Videsh office in New Delhi to discuss key issues on outstanding dues. The delegation apprised the ONGC Videsh that the

ONGC eyes on Strategic Roadmap 2040

ONGC CMD Sashi Shanker has recently said the energy major is contemplating a vision document ‘Strategic Roadmap 2040’ to craft the enterprise’s strategy as an integrated energy ma

Oil minister dedicates three ONGC projects in Assam

Minister of petroleum and natural gas and skill development and entrepreneurship Dharmendra Pradhan inaugurated three mega projects of ONGC in Assam. Along with two engineering projects of ONGC rel

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