Oil and Natural Gas Corporation

ONGC keen to acquire GAIL’s pipeline business: Sources

ONGC keen to acquire GAIL’s pipeline business: Sources

If the deal comes through, it will enable ONGC to emerge as one of the largest integrated public sector oil and gas company.

Jan 24, 2018, 14:50 PM IST
Mumbai chopper crash: 6 bodies found, search on for missing 1

Mumbai chopper crash: 6 bodies found, search on for missing 1

A Pawan Hans helicopter carrying five senior officials of the Oil and Natural Gas Corporation (ONGC) and two pilots crashed off the Mumbai coast minutes after it took off.

Jan 14, 2018, 09:58 AM IST
ONGC to acquire HPCL in block deal in Nov-Dec

ONGC to acquire HPCL in block deal in Nov-Dec

The government's transaction advisor JM Financial and legal consultant Cyril Amarchand Mangaldas is preparing Information Memorandum (IM) on Hindustan Petroleum Corporation Ltd (HPCL) with India's largest oil and gas producer, ONGC, in the next 7-10 days.

Sep 25, 2017, 15:09 PM IST
ONGC gets green nod for exploratory drilling in KG basin

ONGC gets green nod for exploratory drilling in KG basin

The current production of oil and gas is 750-800 tonnes per day and 2.5-3 million cubic metres of gas, respectively, from various facilities in this area.

Jun 27, 2017, 13:52 PM IST
ONGC signs pact to buy out GSPC's KG block stake for $1.2 billion

ONGC signs pact to buy out GSPC's KG block stake for $1.2 billion

State-owned Oil and Natural Gas Corporation (ONGC) has signed definitive agreements to buy out debt-ridden GSPC's entire 80 per cent stake in KG-basin natural gas block for USD 1.2 billion.

Mar 19, 2017, 12:01 PM IST
ONGC, Cairn India face Rs 730 crore service tax on royalty payments

ONGC, Cairn India face Rs 730 crore service tax on royalty payments

In a setback to energy firms like ONGC and Cairn India, the government will from this fiscal levy service tax of about Rs 730 crore on royalties they pay to the exchequer on oil and gas they produce.

Nov 03, 2016, 15:48 PM IST
ONGC to invest $5.1 billion in 4 yrs in east coast oil gas asset

ONGC to invest $5.1 billion in 4 yrs in east coast oil gas asset

Oil and Natural Gas Corporation will invest 340.12 billion rupees ($5.11 billion) in four years to develop cluster 2 of east coast deepwater block, the company said in a tweet on Friday.

Sep 30, 2016, 15:02 PM IST
ONGC Board approves pact to take stake in GSPC gas block

ONGC Board approves pact to take stake in GSPC gas block

The Board of Oil and Natural Gas Corp (ONGC) at its meeting on September 8 approved signing of an MoU for taking a stake in Gujarat Petroleum Corp Ltd's (GSPC) difficult gas block, sources privy to the development said.

Sep 25, 2016, 14:17 PM IST
Shah panel submits report on compensation from RIL to ONGC

Shah panel submits report on compensation from RIL to ONGC

Justice AP Shah Committee Wednesday submitted a 'comprehensive report' on the compensation Reliance Industries should pay to ONGC for producing state-run firm's gas for the past seven years.

Aug 31, 2016, 16:58 PM IST

ONGC hires consultant to assess reserves in GSPC KG gas block

State-owned ONGC has hired US-based consultant Ryder Scott to assess natural gas reserves in Gujarat State Petroleum Corp's (GSPC) Deendayal block before deciding to buy a stake in it.

Aug 28, 2016, 15:04 PM IST
Govt may cut gas price for producers by 20% in October

Govt may cut gas price for producers by 20% in October

Natural gas price paid to producers like state-owned Oil and Natural Gas Corp (ONGC) and Reliance Industries is likely to fall 20 percent to USD 2.45 in October.

Aug 07, 2016, 16:00 PM IST

Oil price recovery poses downgrade risk to OIL, ONGC: Moody's

Moody's Investors Service Thursday said ratings of state-owned Oil and Natural Gas Corp (ONGC) and Oil India Ltd (OIL) may come under pressure if oil prices fall more sharply than expected and companies carry on with their growth and expansion plans aggressively.

Mar 17, 2016, 22:57 PM IST
New policies to attract investments in oil & gas sector: S&P

New policies to attract investments in oil & gas sector: S&P

The new price formula and calibrated marketing freedom for gas produced from fields in difficult terrain could help attract investments in India's oil and gas sector, said Standard & Poor's Ratings Services.

Mar 14, 2016, 19:22 PM IST
ONGC mulls drilling nine development wells in 2 fields

ONGC mulls drilling nine development wells in 2 fields

Oil and Natural Gas Corporation Ltd is planning to undertake drilling of nine development wells in KG-OSN-2004/1 and GS-49-2 fields beside creation of other infrastructure in KG Basin with an investment outlay of Rs 3,750 crore.

Mar 14, 2016, 16:57 PM IST
ONGC gets back Ratna & R-Series, Amguri oil fields

ONGC gets back Ratna & R-Series, Amguri oil fields

The Ratna and R-series oil fields, 130-km off the Mumbai coast, hold an estimated 87 million barrels of oil and 1.2 billion cubic metres of gas reserves.

Mar 10, 2016, 13:21 PM IST
ONGC Q3 Net dips 64% to Rs Rs 1,286 crore, lowest in 15 years

ONGC Q3 Net dips 64% to Rs Rs 1,286 crore, lowest in 15 years

Net profit of Rs 1,286 crore in October-December was 64 percent lower than Rs 3,571 crore in the same period a year ago, ONGC Chairman and Managing Director Dinesh K Sarraf told reporters here.

Feb 11, 2016, 21:24 PM IST
Govt exempts ONGC, Oil India from fuel subsidy payment in Q3

Govt exempts ONGC, Oil India from fuel subsidy payment in Q3

Government has exempted state-owned ONGC and Oil India from payment of fuel subsidy in the third quarter ended December 31, as slump in oil prices dented their revenues.

Feb 09, 2016, 18:35 PM IST
Govt's gas pricing formula not viable to develop KG gas: ONGC

Govt's gas pricing formula not viable to develop KG gas: ONGC

State-owned Oil and Natural Gas Corp (ONGC) has sent an urgent message to Petroleum Ministry, saying the natural gas prices according to a formula approved by the BJP-led government was not viable to develop its KG basin discoveries.

Feb 04, 2016, 20:55 PM IST
ONGC gets green nod for Rs 53,000 crore KG basin infra project

ONGC gets green nod for Rs 53,000 crore KG basin infra project

State-owned ONGC has got environmental clearance for drilling 45 development wells and other related infrastructure involving a cost of over Rs 53,000 crore in the Krishna-Godavari basin in Andhra Pradesh.

Jan 24, 2016, 18:38 PM IST
ONGC Videsh refinances $1.78 bn loan at lower coupon rates

ONGC Videsh refinances $1.78 bn loan at lower coupon rates

In a first by a public sector firm, ONGC Videsh Ltd has refinanced a USD 1.775 billion loan at lower rates to save nearly USD 37 million in interest payout, besides extending the repayment tenure.

Jan 17, 2016, 11:50 AM IST