Oil And Natural Gas Corp

Thursday, Apr 25, 2024 | Last Update : 01:42 PM IST

Oil and Natural Gas Corp

Witnessed the exchange of a MoU between ONGC and ExxonMobil to identify areas for exploration in deep water in east and west coast of India, Oil Minister Dharmendra Pradhan said in a tweet. (Photo: File)

Energy giant Exxon Mobil, India's ONGC sign expertise-sharing deal

A growing demand in India amid a global slowdown and government policies have made investments and returns attractive.

15 Oct 2019 12:21 PM

The cumulative oil and gas gain from these projects is expected to be over 180 million tonne of oil and oil equivalent gas in their life cycle, said ONGC chairman and managing director Shashi Shanker.

ONGC investing Rs 83,000 cr in 25 projects; cumulative oil, gas gain over 180 MT

The firm produced 24.23 million tonne of crude oil in the 2018-19 fiscal year and 25.81 billion cubic metres of natural gas.

15 Aug 2019 5:06 PM

In the revised shareholding, under the 'statement showing the shareholding pattern of the Promoter and Promoter Group', it listed ONGC as a promoter with 77.88 crore shares or 51.11 per cent stake just below President of India with 'zero' shares.

HPCL files revised shareholding; lists ONGC as promoter

Securities and Exchange Board of India had asked HPCL to re-file shareholding pattern to stock exchanges by August 13, 2019.

14 Aug 2019 3:32 PM

In a regulatory filing HPCL made to stock exchanges on July 21, in the shareholding for the quarter ending June 30, 2019, HPCL again listed ONGC as "public shareholder" and not as its promoter.

HPCL refuses to recognise ONGC as its promoter

Oil and Natural Gas Corp in January last year bought the government's entire 51.11 pc stake in HPCL for Rs 36,915 crore.

23 Jul 2019 12:33 PM

After the Motera field was discovered in Ahmedabad, ONGC was wary of encroachment around the oil wells in a city that was developing into a megapolis. So it built a golf course around the wells to ward off encroachers, sources said.

Govt wants ONGC to sell golf course in Ahmedabad that has oil wells

The golf course identified by DIPAM has two producing oil wells, sources said.

14 Jul 2019 12:46 PM

ONGC, in the previous two financial years, had lost the most profitable PSU tag to IOC.

ONGC topples IOC to regain most profitable PSU tag

Oil and Natural Gas Corp reported a 34 per cent jump its in 2018-19 fiscal net profit to Rs 26,716 crore.

02 Jun 2019 5:01 PM

ONGC acquired the government's 51.11 percent stake in HPCL in January 2018 at Rs 473.97 per share. The same share of HPCL on Friday closed at Rs 282.60, a massive 40 percent loss in value in 15 months.

HPCL-MRPL merger hits cash hurdle; ONGC rules out share-swap

ONGC, India's biggest oil and gas producer, last year completed acquisition of Hindustan Petroleum Corp Ltd for Rs 36,915 crore.

28 Apr 2019 2:15 PM

ONGC bought govt's entire 51.11 per cent stake in HPCL for Rs 36,915 crore. HPCL thereafter became its subsidiary but HPCL management has continuously refused to recognise ONGC as its promoter.

HPCL doesn't see ONGC as promoter, to face real test in selecting directors

In a regulatory filing, HPCL on April 18 listed 'President of India' as its promoter with 'zero' shareholding.

21 Apr 2019 1:29 PM

Higher gas prices, however, will lead to higher earnings for state-owned Oil and Natural Gas Corp Ltd and Oil India Ltd.

India raises gas price for April-September by about 10 pct to USD 3.69/mmBtu: Source

The government will formally announce the revised prices later on Friday, the source said.

29 Mar 2019 2:43 PM

The tax department has slapped ONGC Videsh Ltd a service tax demand of Rs 7,666.10 crore on remittance the firm makes to its overseas subsidiaries for past one decade, sources in know of the development said.

ONGC Videsh Ltd slapped with Rs 7,666 crore service tax demand

The service tax department had first issued a demand cum show-cause notice on October 11, 2011.

23 Sep 2018 12:52 PM

State-owned Oil and Natural Gas Corp (ONGC) has made oil and gas discoveries in Madhya Pradesh and West Bengal that may potentially open up two new sedimentary basins in the country, the firm's director for exploration has said.

ONGC finds oil, gas reserves in MP, WB; to open 2 new basins in India

ONGC had made a significant natural gas discovery in the Gulf of Kutch off the west coast a few months back.

06 Sep 2018 2:28 PM

Mining mogul Anil Agarwal-led Vedanta Ltd has bagged 41 out of 55 oil and gas exploration blocks offered in India's maiden open acreage auction, upstream regulator DGH said on Tuesday.

Vedanta bags 41 oil blocks, OIL 9, ONGC 2 in India's maiden auction

Vedanta, which had put in bids for all the 55 blocks, won right to explore and produce oil and gas in 41 of them.

28 Aug 2018 4:30 PM

State-owned Oil and Natural Gas Corp (ONGC) will not sell its stake in IOC and GAIL in the near future as it has used internal resources to repay close to a third of the Rs 24,881 crore loan it had taken to buy Hindustan Petroleum Corp Ltd (HPCL), people with direct knowledge of the matter said.

ONGC repays a third of loan taken to buy HPCL

ONGC had in January received government approval to sell its 13.77 per cent stake in Indian Oil Corp.

19 Aug 2018 3:58 PM

Anil Agarwal-led Vedanta Ltd is likely to bag as many as 40 oil and gas exploration blocks in India's maiden open acreage auction, official sources said on Tuesday.

Vedanta set to bag 40 oil blocks, ONGC 2 and HOEC 1 in open auction

The recommendations of the panel will now go to ministers of finance and petroleum for approval.

07 Aug 2018 2:57 PM

State-owned Oil and Natural Gas Corp (ONGC) has asked refiner Hindustan Petroleum Corp Ltd (HPCL) to rectify its stock exchange filings to reflect the true promoter after government exit.

ONGC asks HPCL to rectify promoter classification

HPCL still lists 'President of India' as the promoter even with 'zero' per cent shareholding.

05 Aug 2018 12:09 PM

State-owned Oil and Natural Gas Corp (ONGC) on Thursday reported 58 per cent jump for the June quarter net profit on realising higher prices for its produce.

ONGC Q1 net profit up 58 per cent to Rs 6,144 crore

The company said in a stock exchange filing that its revenue from operations rose to Rs 27,212.83 crore.

02 Aug 2018 5:39 PM

ONGC logged a Rs 4,000 crore loss on natural gas output in the fiscal year ended March 31, 2018.

ONGC logs Rs 4,000 cr loss on gas production due to cap on prices

Natural gas constitutes around 45 per cent of ONCG's total crude oil and natural gas production volume.

03 Jun 2018 12:14 PM

Cash-strapped Venezuela has stopped payments of oil dues to ONGC Videsh Ltd (OVL), leading to a USD 450 million pile-up, its MD & CEO Narendra K Verma said.

Venezuela stops payment of oil dues to ONGC Videsh Ltd

PDVSA had agreed to supply 17,000 barrels per day of crude oil to repay USD 537 million that it owed to OVL.

01 Jun 2018 2:36 PM

India’s Oil and Natural Gas Corp Ltd and Reliance Industries Ltd have started discussions with buyers to sell natural gas from their fields in the Bay of Bengal.

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.

10 Apr 2018 6:36 PM

ONGC holds 13.77 per cent stake in nation's biggest refiner Indian Oil Corp (IOC), which at today's trading price is worth over Rs 26,200 crore.

ONGC gets govt nod to sell stake in IOC, GAIL to fund HPCL buy

ONGC is funding the Rs 36,915 cr acquisition of govt's 51.11 pc stake in oil refining and marketing firm HPCL.

23 Jan 2018 2:23 PM

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Dilip Cherian