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IOC, BPCL eye 26% stake each in GAIL India

New Delhi : State-owned Indian Oil Corporation (IOC) and Bharat Petroleum Corporation (BPCL) may buy a 26 per cent stake each in gas utility GAIL India, paying the government over Rs 20,000 crore each to become integrated energy firms. (3-0)

SC seeks Centre’s stand on Patra’s ONGC appointment

New Delhi : The Supreme Court has sought the Centre’s response to a petition challenging allegedly arbitrary and mala fide appointment of BJP spokesman Sambit Patra (43) as an independent director of the state-owned Oil and Natural Gas Commission (ONGC) despite not being eligible for the post.

ONGC to hire global majors to boost output

New Delhi : Oil behemoth ONGC is set to hire international oil services majors to ramp up its output from its two aging fields. (25-0)

Rise in oil prices lift ONGC profit by 15%

New Delhi : State-owned Oil and Natural Gas Corp (ONGC) on Friday reported a 15 per cent rise in the December quarter net profit as higher prices made up for fall in output.

Rise in oil prices lift ONGC profit by 15%

New Delhi : State-owned Oil and Natural Gas Corp (ONGC) on Friday reported a 15 per cent rise in the December quarter net profit as higher prices made up for fall in output.

More oil and gas mergers likely: Minister Pradhan

New Delhi : Merger of more petroleum refiners and producers, to form vertically integrated companies, is possible, Oil Minister Dharmendra Pradsaid on Monday. Pradhan said he believed the integration of more such oil and gas companies was possible as these companies were established for a certain objective and integrating them will help meet that objective. (3-0)

Various options available to fund HPCL deal: ONGC

India’s largest explorer to hike its maiden debt raising to as much as Rs 35,000 crore:  CMD (3-0)

Oil And Natural Gas - Breaking The Cycle

2018-01-19 seekingalpha
For generations, the production of oil and natural gas has been controlled by nations that have been unfriendly, if not downright hostile, to the United States and Europe. We have moved left, we have moved right, in our continuing struggle to get the amount of oil that we needed to keep our economies growing. We have, in many senses, been held hostage by these malignant countries that thrived upon our success, and then used their ill-gotten gains, to support terrorism and to further their own belligerent agendas.

ONGC makes oil, gas discoveries west of Mumbai High

New Delhi : State-run explorer Oil and Natural Gas Corp (ONGC) has made large oil and gas discoveries to the west of its Mumbai High fields, in the western offshore region, Parliament was informed on Monday.

‘Privatise ONGC, selling 18% can fetch Rs 41K cr’

New Delhi : The government should privatise Oil and Natural Gas Corp (ONGC) rather than giving away its prime producing oil and gas fields to private companies “for a song and bleed the PSU to death”, say company executives. Selling just 18% of the government’s 68.07% shareholding in ONGC will fetch over Rs 41,000 crore at the current market price, which could be much more than the investment commitment it may receive from giving away 60 per cent in the 11 identified oil and gas fields, they said. (62-0)

ONGC shares gain over 4% after Q2 earnings

New Delhi, Shares of Oil and Natural Gas Corp (ONGC) today rose by over 4 per cent after the company reported a 3.1 per cent rise in second quarter net profit.

ONGC to sell IOC stake to LIC in block deal

The acquisition of 51.11pc government stake in HPCL by ONGC, will be funded through a combination of market borrowing and selling some stake in IOC and GAIL. (3-0)

ONGC gets green nod for Rs 456-crore drilling project in Assam

New Delhi: State-owned ONGC has received green clearance for the Rs 456-crore exploratory drilling project in Sivasagar district of Assam, a government document showed.

HPCL stake sale: Govt seeks bids for bankers, legal firms

New Delhi : Kicking off the process for sale of HPCL stake to ONGC, the government has invited bids for appointing merchant bankers and legal consultants for the Rs 28,000-crore deal.

ONGC takes step to raise natural gas output

Agartala : The Oil and Natural Gas Corporation is taking steps to increase production of natural gas in Tripura, a top ONGC official said on Thursday.