Page 2 - Ongc Oil Inda
ONGC signs MoU with Assam to invest Rs 13,000 cr for exploration
Oil and Natural Gas Corporation (ONGC) on Wednesday said it will invest over Rs 13,000 crore for exploration work across Assam in the next five years. The company said it has signed an agreement with the Assam government in this regard. "ONGC has signed an MoU with the Government of Assam for investing more than Rs 13,000 during next five years in Assam for enhancing its exploration and production (E&P) activities," ONGC said in a release. This investment is being made for drilling more than 220 oil and gas wells -- a mix of development and exploration ones -- across the state, it said. "ONGC is giving impetus to its activities in alignment with the Prime Minister's call for reducing import by 10 per cent by 2022, and the North East Hydrocarbon Vision 2030," the release said. The company recently received green nod to drill six development wells in five mining lease blocks in Jorhat and Golaghat districts of Assam at an estimated cost of Rs 240 crore, it said. ONGC .
 "ONGC signs MoU with Assam to invest Rs 13,000 cr for exploration")
Rising fuel: Modi govt may ask ONGC, Oil India to share subsidy burden
On the issue of price deregulation, Moody's says the government is unlikely to reverse fuel pricing deregulation because it remains committed to reforms
 "Rising fuel: Modi govt may ask ONGC, Oil India to share subsidy burden")
Aban Offshore, Oil India up over 3%; HPCL, BPCL, IOC down over 5%
ONGC, Jindal Drilling, Hindustan Oil Exploration and Deep Industries were up in the range of 3% to 7% after oil prices rose more than 3% on Tuesday.
 "Aban Offshore, Oil India up over 3%; HPCL, BPCL, IOC down over 5%")
ONGC, Oil India gain up to 3% as oil prices rule at highest since 2015
Oil India hits a 52-week high of Rs 382, up 3% on the BSE. While, ONGC rallied 3.5% to Rs 205.50 extending its past one month 16% surge on the BSE.
 "ONGC, Oil India gain up to 3% as oil prices rule at highest since 2015")
