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

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

Oil production rose to 10.1 million tonnes in 2018-19 from 9.35 million tonnes in the previous year.

24 May 2019 12:17 PM

Under open acreage licensing policy, or OALP, companies are allowed to put in an EoI for prospecting of oil and gas in any area that is currently not under any production or exploration licence.

Vedanta bids for 30 oil and gas blocks

Vedanta had walked away with 41 out of the 55 blocks offered in OALP-I last year.

17 May 2019 6:37 AM

Bidding for 14 blocks on offer in the Open Acreage Licensing Policy (OALP) round-II and another 18 oil and gas blocks and 5 coal-bed methane (CBM) blocks on offer in OALP-III closed on Wednesday. (Representational Image)

Reliance-BP makes 1st bid for oil block; Vedanta bids for 30, ONGC 20

Official sources said Vedanta, which had walked away with 41 out of the 55 blocks offered in OALP-I last year, bid for 30 areas.

16 May 2019 2:54 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

The government has not yet interviewed for the post by its selection panel — Public Enterprise Selection Board (PESB).

HPCL ignores ONGC as promoters again

As far as the existing vacancies are concerned in HPCL, the director (finance) has been lying vacant after J Ramaswamy retired on February 28.

22 Apr 2019 1:33 AM

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

Talking about the performance, ONGC Chairman and Managing Director Shashi Shanker said: "The growth in onshore production has been achieved beating enormous challenges which cropped up due to ageing of the fields. This has come at a time when fields with similar vintage are facing a sharp decline internationally." (Photo: File | PTI)

ONGC arrests fall in oil output from onshore wells, posts higher growth

ONGC produced 6.141 million tonnes of crude oil from its onshore fields despite majority of them being more than 50 years old.

14 Apr 2019 12:10 PM

A bulk of the output in the 2018-19 financial year came from fields that were given to ONGC on nomination basis.

ONGC gas output jumps 6.5 per cent to record high in FY19

The growth rate was higher than the global average of 3-4 per cent year-on-year.

01 Apr 2019 3:49 PM

Twice during the current government's regime proposals were moved to farm-out or privatise ONGC fields but were shelved in face of opposition, industry sources said adding the latest bid came in late 2018. (Photo: File | PTI)

DGH seeks data on ONGC's top 47 fields after rejection of bid to privatise fields

DGH has asked data on its top 47 fields to monitor production and projects to raise output, an official order said.

31 Mar 2019 3:01 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

A high-level committee headed by Niti Aayog Vice Chairman Rajiv Kumar late last year considered "transferring" western offshore oil and gas fields of Mumbai High, Heera, D-1, Vasai East and Panna as well as Greater Jorajan and Geleki field in Assam, Baghewala in Rajasthan and Kalol oilfield in Gujarat to private/foreign companies. (Photo: Representiative Image | PTI)

ONGC's Mumbai High, Vasai East came close to being sold, stopped after opposition

The proposal brought before the panel was to boost stagnant output from ageing fields of public sector oil companies.

14 Mar 2019 3:10 PM

IOC had in December declared Rs 6.75 per share interim dividend alongside a Rs 4,435 crore share buyback to help the government meet its revenue targets. (Photo: AP)

Facing revenue shortfall, Govt pushes IOC, ONGC to pay 2nd interim dividend

IOC has called a board meeting on March 19 to consider paying a second interim dividend, ONGC has declined.

14 Mar 2019 9:01 AM

The MoCA will be then send the reserve price to the Evaluation Committee. (Photo: File)

Financial bids for Pawan Hans to be submitted by March 6

Separately, the transaction advisor has worked out a reserve price for Pawan Hans which will be submitted to the Ministry of Civil Aviation.

03 Mar 2019 12:04 PM

A year ago, a comparative PSU-PSU bargain where ONGC obtained the Center's 51 percent stake in HPCL had an extensive part of obligation subsidizing; while the exchange was worth Rs 37,000 crore, the state-run traveler turned to obligation to raise some Rs 25,000 crore. (Photo: Representational/PTI)

REC takeover: PFC to draw Rs 10,000 crore from reserves

The arrangement will appear in the not so distant future, making a noteworthy commitment to the Center's disinvestment kitty for the year.

11 Feb 2019 12:28 PM

India asks firms to expedite efforts to establish shale oil & gas potential

In late 2013, India gave rights to Oil and Natural Gas Corp Ltd to explore for shale oil and gas reserves.

11 Feb 2019 12:06 PM

India currently produces about 90 million standard cubic meters per day of natural gas. (Photo: File)

Govt move to unlock ONGC, OIL gas

Govt's plan to offer PSUs special incentives for natural gas discoveries in difficult, unviable areas will raise natural gas production.

10 Feb 2019 4:04 PM

ONGC has a 40 per cent stake in Venezuela’s San Cristobal project, with PDVSA holding.

ONGC gets USD 32 million payment from Venezuela's PDVSA

PDVSA paid about USD 90 million of that but has not paid the rest.

05 Dec 2018 11:26 AM

The Tariff Authority for Major Ports passed an order for wharfage compensation payable by ONGC on October 3, 2018.

ONGC ordered to pay Rs 242 crore to Mumbai Port Trust

A sum of Rs 173.69 cr has to be paid to MbPT by ONGC in lieu of wharfage compensation charges since 2013-14.

22 Nov 2018 2:31 PM

ONGC's onshore crude oil production increased 2 per cent to 6.064 million tonne (MT) for 2017-18 as compared to the previous fiscal. (File Photo)

ONGC frames strategy for higher output growth

The company has seen almost flat growth in crude oil production in the last five years.

16 Nov 2018 5:05 PM

The oil explorer is opposed to the plan as it feels it should be allowed the same terms that the government extends to private and foreign firms in DSF.

Govt may sell 149 ONGC fields to private firms

This is the second attempt by the oil ministry to take away some of the fields of ONGC for private and foreign companies.

12 Nov 2018 11:27 AM

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Syed Ata Hasnain