Oil and Natural Gas Corporation

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