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State-owned Oil and Natural Gas Corporation (ONGC) has yet to take operational control of the Cambay basin block CB-OS-02 in Gujarat after Vedanta challenged the government's decision not to extend the block's contract term. The Ministry of Petroleum and Natural Gas, through a September 19, 2025, directive, rejected an extension of the contract for the block, in which ONGC holds a 50 per cent participating interest, Vedanta holds 40 per cent, and Invenire Petrodyne Limited holds 10 per cent. Following the government's decision, ONGC said it was instructed to immediately take over operations of the block and deployed an operational team to Suvali in Gujarat from September 20, 2025. However, the company said Vedanta has not yet handed over operations. "Pursuant to the Government of India directive, ONGC requested Vedanta for the immediate handover and deployed its operational team at Suvali, Gujarat, from September 20, 2025. However, Vedanta has not yet handed over the operations," ON
State-owned Oil and Natural Gas Corporation (ONGC) on Tuesday reported a 3 per cent rise in March quarter profit to Rs 6,649.97 crore as higher oil and gas prices helped negate a drop in output. Net profit of Rs 6,649.97 crore in January-March -- the fourth quarter of 2025-26 fiscal year -- compared with Rs 6,448.28 crore earnings in the corresponding period of the previous year and Rs 8,371.85 crore in the preceding three months, according to a stock exchange filing by the company. Revenue from operations rose marginally to Rs 35,928.18 crore during the quarter from Rs 34,982.23 crore in Q4 of FY25. For the full fiscal year, ONGC reported a net profit of Rs 32,894.02 crore, down 7.6 per cent from Rs 35,610.32 crore of 2024-25 fiscal year. ONGC wrote off Rs 4,876.75 crore in exploration well cost during the quarter under review after the wells drilled did not yield any commercial hydrocarbon discoveries. This compared with Rs 4,173.04-crore write-off in the corresponding quarter of
Ladakh is set to take a significant step towards clean energy generation with Lt Governor Vinai Kumar Saxena approving the setting up of India's first geothermal power project by the Oil and Natural Gas Corporation at Puga valley in Ladakh, at an altitude of over 14,000 feet. LG approved a five-year extension of the memorandum of understanding (MoU) with the Oil and Natural Gas Corporation for the construction of the country's first geothermal power project, officials said. The project, to be developed at an altitude of over 14,000 feet in eastern Ladakh, aims to commercially harness geothermal energy as a sustainable alternative source of power, they said. The earlier tripartite MoU signed on February 6, 2021, between the Ladakh administration, the Ladakh Autonomous Hill Development Council (LAHDC), Leh, and the ONGC energy centre expired on February 5, 2026. ONGC had sought an extension, citing delays caused by harsh weather conditions and difficult terrain, they said. Consideri
As the world scrambles to recover from the biggest energy shock in decades triggered by the West Asia conflict, India should be cautious about relying on traditional supply assumptions, particularly its proximity to the Middle East for sourcing oil and gas, ONGC Chairman and CEO Arun Kumar Singh said on Friday. India, which relied on the Middle East to meet nearly half of its crude oil imports, 30 per cent of its gas and 85-90 per cent of LPG, must invest in building strategic storages as an insurance against price and supply disruptions, he said. The six-week long was shut the only shipping lane that was used by the Gulf countries to export crude oil (raw material for making petrol and diesel), natural gas (used to make fertilizer, generate electricity, turn into CNG to power automobiles and piped to household kitchens for cooking) and cooking gas LPG. This led to an energy crisis in several importing countries, including India which had to prioritise supply of gas. "Thinking that