close
This ad will auto close in 10 seconds
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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

ONGC suffered Rs 8,000 crore loss for poor rig management: CAG

ONGC suffered Rs 8,000 crore loss for poor rig management: CAG

In a report tabled in parliament, the CAG said ONGC`s non-productive time or idling time of rigs ranged between 19 and 23 percent over 2010-14.

ONGC Videsh close to winning $5-bn Farzab-B gas field rights

ONGC Videsh close to winning $5-bn Farzab-B gas field rights

ONGC Videsh Ltd-led consortium is close to winning USD 5 billion rights to develop Iran's Farzad-B gas field and convert the gas produced from it into LNG for shipping to countries like India.

ONGC sees 20-30% lower capex next fiscal on crude price slump

ONGC sees 20-30% lower capex next fiscal on crude price slump

ONGC will maintain its capex plan for this year at the same level as last year at about Rs 30,000 crore, its chairman Dinesh K Saraf has said.

About 11.12 bcm gas of ONGC shifted to RIL's KG-D6: Consultant

About 11.12 bcm gas of ONGC shifted to RIL's KG-D6: Consultant

About 11.12 billion cubic metres of natural gas worth Rs 11,055 crore have flowed from idling Bay of Bengal blocks of the state-owned Oil and Natural Gas Corporation (ONGC) to neighbouring KG-D6 fields of Reliance Industries, US-based consultant D&M has said.

ONGC to intensify exploration activities, secures more rigs

Oil and Natural Gas Corporation (ONGC) is expected to increase its upstream capital expenditure by 10 per cent next year and intensify its exploration activities, taking advantage of the current depressed global energy market.