Company Overview and News
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)
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
New Delhi : State-owned Oil and Natural Gas Corp (ONGC) is keen to acquire India’s third-biggest fuel retailer HPCL in a Rs 42,254 crore deal after finding Bharat Petroleum Corp Ltd (BPCL) too expensive to buy.
New Delhi : State-owned Oil and Natural Gas Corp Ltd’s Vashishta and S1, or VA and S1, deepwater gas fields in the Krishna-Godavari offshore basin are ready for commercial production and the company has invited bids from prospective buyers of gas from these fields, a senior company official with direct knowledge of the matter told. ONGC wants to sell 5.45 mscmd gas from the two fields for a period of five years.
New Delhi : State-owned Oil and Natural Gas Corp (ONGC) made 23 oil and gas discoveries in the fiscal year ended March 31 as a record number of wells drilled helped it uncover new reserves.
New Delhi : Natural gas price was on Friday cut marginally to $2.48 per million British thermal unit, the fifth reduction in two years.
New Delhi: A three-member arbitration panel has started hearing validity of the government’s demand of USD 1.55 billion as compensation from Reliance Industries for “unfairly” producing ONGC’s gas.
New Delhi : 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 $1.2 billion. “Subsequent to board approving the deal on February 23, we have now signed farm-in and farm-out agreements,” a senior company official said.
New Delhi : State-owned ONGC will invest over Rs 21,500 crore to develop India’s deepest gas discovery by 2022-23, helping it more than double output from its prime KG basin block.
New Delhi: State-owned ONGC will invest over Rs 21,500 crore to develop India’s deepest gas discovery by 2022-23, helping it more than double output from its prime KGbasin block. Oil and Natural Gas Corp (ONGC), which had last year firmed up an investment of Rs 34,012 crore (USD 5.076.37 billion) in bringing to production 10 oil and gas discoveries in its Bay of Bengal block KG-DWN-98/2 (KG-D5), plans to invest another Rs 21,528.
New Delhi : State-owned Oil and Natural Gas Corporation (ONGC) may acquire India’s third-biggest fuel retailer HPCL in an about Rs 44,000 crore (USD 6.6 billion) deal as part of the government’s plan to create an integrated oil giant.
New Delhi : State-owned Oil and Natural Gas Corp (ONGC) on Thursday said it will invest Rs 7,327 crore in developing four oil and gas projects, including the Ratna field which it had got back from Essar Oil. The Board of ONGC approved an investment of Rs 4,104.63 crore in development of R-Series fields including revival of R-12 (Ratna), the company said in a statement.
New Delhi: After selling its stake in KG gas block to ONGC for $ 1.2 billion, Gujarat State Petroleum Corp (GSPC) is mulling a big financial restructuring, including trimming stake in some business like LNG and portfolio readjustment, its Managing Director J N Singh said.
New Delhi : State-run ONGC will pay over $ 1.2 billion for buying debt-laden GSPC’s entire 80 per cent stake in KG-basin natural gas block, which is struggling to start commercial production despite trial outputs starting nearly two-and-half years back.
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