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Oil and Natural Gas Corp

ONGC Q4 net drops 31% on drop in output, prices

Net profit in January-March at Rs 4,045 crore was 31.6 percent lower than net profit of Rs 5,915 crore in the same period of the previous fiscal year, the company said in a statement.

May 31, 2019, 10:59 AM IST

OVL FY19 net profit jumps 71% on rise in oil production

OVL is the unlisted overseas arm of ONGC and is not obligated to report quarterly earning numbers.

May 24, 2019, 12:54 PM IST

ONGC share buyback to open January 29, closes February 11

PSUs having a net worth of at least Rs 2,000 crore and a cash balance of more than Rs 1,000 crore have to mandatorily go in for share buyback.

Jan 22, 2019, 12:27 PM IST

ONGC says no demand from govt to reconsider OVL listing

ONGC Chairman and Managing Director Shashi Shanker said the company has communicated its views on the listing of OVL to the government.

Jan 03, 2019, 11:00 AM IST

ONGC to buyback shares for Rs 4,022 crore

The government, which holds 65.64 percent stake in the company, stands to gain about Rs 2,640 crore from tendering some of its shares in the buyback programme.

Dec 21, 2018, 12:37 PM IST

Sudan wants ONGC Videsh to withdraw arbitration over oil payment dues

OVL, filed an arbitration claim earlier this year against the government of Sudan in a London court seeking to recover dues pending for years from a project hit by the breakaway of South Sudan in 2011.

Aug 17, 2018, 10:50 AM IST

ONGC nominates one director on HPCL board; wants common govt director

ONGC, which had in January completed the acquisition of the government's 51.11 per cent stake in HPCL for Rs 36,915 crore, has appointed its Director (Finance) Subhash Kumar on the company board, sources said.

May 29, 2018, 14:53 PM IST

ONGC, Reliance in talks with customers to sell east coast gas

The plan is to transport the gas from the east coast to the industrial heart belt of western India, an ONGC executive told Reuters.

Apr 11, 2018, 11:26 AM IST

ONGC says KG-D5 output delay due to policy changes

The Union Cabinet in May 2017 approved a policy that will prefer sourcing of domestic iron and steel for infrastructure projects by state-owned companies in a bid to boost Make in India.

Feb 26, 2018, 14:28 PM IST

ONGC makes significant oil, gas discovery in Arabian Sea

ONGC produced 25.5 million tonnes of oil in 2016-17, which will reach 28-29 million tonnes by 2019-20.

Jan 02, 2018, 10:06 AM IST

ONGC seeks shareholders' nod to raise $4 billion

ONGC`s first debt issue in more than a decade would likely buy the government`s 51.1-percent stake in refining and marketing company Hindustan Petroleum Corp Ltd , company officials and analysts said.

Sep 04, 2017, 19:02 PM IST

ONGC to bid for Israel oil-and-gas exploration blocks: Dharmendra Pradhan

A high-ranking delegation from India, the world`s third-biggest oil consumer, visited Israel last month to discuss taking part in the tender for blocks in the Mediterranean Sea and Israeli officials said they were pleased with the visit.

Sep 04, 2017, 17:14 PM IST

Government's demand for additional tax premature, Reliance Industries says

India sought $3 billion from the companies after an international tribunal upheld the government`s view that profit from the fields be taxed at the current rate of 33 percent and not the earlier 50 percent, the Economic Times newspaper reported on Tuesday.

Jul 18, 2017, 17:30 PM IST

Modi launches 75 cashless townships across 12 states

Prime Minister Narendra Modi today launched 75 cashless/less-cash townships, with an overwhelming 56 of them being in Gujarat.

Apr 14, 2017, 20:43 PM IST

ONGC seeks gas price review; wants floor rate fixed at $4.2

State-owned Oil and Natural Gas Corp (ONGC) has sought a review of the natural gas pricing formula as rates have dropped below cost.

Mar 22, 2017, 15:35 PM IST

ONGC may acquire HPCL in $6.6 bn deal

Oil and Natural Gas Corp will take control of Hindustan Petroleum Corp as part of the government`s plan to create an integrated public sector oil entity.

Feb 27, 2017, 09:51 AM IST

ONGC takes $239 million hit from royalty payments

Oil and Natural Gas Corp will take a 16 billion rupee ($239 million) hit to its quarterly earnings to account for previous royalty payments to two states.

Feb 21, 2017, 23:13 PM IST

ONGC Videsh completes acquisition of 11% additional stake in Russian oil field Vankor

 ONGC Videsh Ltd, the overseas arm of state-owned Oil and Natural Gas Corp, has completed the acquisition of additional 11 percent interest in Russia's Vankor oilfield, taking its total stake to 26 percent.

Oct 31, 2016, 16:51 PM IST

ONGC's $5 billion investment plan not to impact its ratings: S&P

Credit rating of state-owned Oil and Natural Gas Corp's (ONGC) will remain unaffected by its decision to invest USD 5 billion in KG basin oil and gas field, Standard & Poor's said today.

Mar 30, 2016, 16:42 PM IST

ONGC to invest $5 billion to develop KG basin oil and gas block

State-owned ONGC on Monday announced USD 5.07 billion investment in its KG basin oil and gas block but the delay on government's part in approving a higher gas price for difficult areas would mean the output would be delayed by one year to 2019-20

Mar 28, 2016, 18:02 PM IST