Company Overview and News

to your dashboard

Headline News

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.

FM to head panel on HPCL stake sale to ONGC

New Delhi : Finance Minister Arun Jaitley will head a 3-member ministerial panel to oversee and expedite the sale of government stake in oil refiner HPCL to explorer ONGC, Oil Minister Dharmendra Pradhan said on Monday.

CCEA approves government stake sale of HPCL to ONGC: Pradhan in Lok Sabha

New Delhi, The Cabinet Committee on Economic Affairs (CCEA) has given in-principle approval for the sale of the government’s 51.11 per cent stake along with the management control of HPCL to the ONGC, Oil Minister Dharmendra Pradhan said today.

HPCL to become subsidiary of ONGC

New Delhi : The Cabinet on Wednesday approved sale of government’s stake in Hindustan Petroleum Corp Ltd (HPCL) to India’s largest oil producer ONGC for Rs 30,000 crore, a top government source said.

HPCL plans to invest Rs 61,000 cr by 2021 on expansion projects

New Delhi : State-owned HPCL will invest Rs 61,000 crore over the next four years in expanding and upgrading its existing refining capacity to meet higher quality fuel norms, the company said in an investor presentation.

Cabinet may decide on HPCL stake sale to ONGC this month

New Delhi : The Cabinet is likely to consider this month sale of government’s 51 per cent stake in Hindustan Petroleum Corp Ltd (HPCL) to Oil and Natural Gas Corp (ONGC) for over Rs 26,000 crore. The Department of Investment and Public Asset Management (DIPAM) in the Ministry of Finance is moving a note for consideration of the Cabinet for divesting government’s entire 51.11 per cent shareholding in India’s third-biggest fuel retailer HPCL to oil producer ONGC.

3-day rescue op to save toddler in borewell fails

Hyderabad : After three days of operation to rescue an 18-month-old girl from a borewell in Telangana’s Rangareddy district, she was found dead at a depth of 180 feet.

ONGC-Unesco join hands to get Chilika Lake heritage label

Bhubaneswar : A joint team of the ONGC and Unesco has carried out a preliminary survey for the conservation of Chilika Lake to help the country’s largest coastal lagoon secure the world heritage site tag, said an official on Wednesday.

ONGC Bassein gas field to touch record output in 2018

New Delhi : India’s largest natural gas field Bassein in the Arabian Sea has seen a remarkable turnaround with the natural decline that had set in at the 28-year old field reversed and output slated to rise by a quarter to a record high in 2018.