Page 41 - Ongc

ONGC net profit falls 37% in Sep quarter on lower oil prices, production

Oil production fell 3.9% to 5.8 million tonnes while gas output fell 1.6% to 6.2 billion cubic metres

ONGC may take Opal out of SEZ as domestic demand for petrochemicals grows

A DTA setup enables a company to set up manufacturing units that cater to the domestic market, while an SEZ unit is meant only for exports

ONGC may revise terms of production-boosting plan for 64 oil and gas fields

---Pointer table is not needed---State-run Oil and Natural Gas Corporation (ONGC) is likely to revise the terms of the much-hyped production enhancement plan for 64 oil and gas fields, after concerns raised by prospective bidders over the operating cost and other bidding criteria.According to multiple sources, at least 14 of the 23 companies that participated in the pre-bid meeting on September 17 had asked for "compensation covering the operating cost to be borne by the contractor related to the baseline production". Following this, the Directorate General of Hydrocarbons (DGH) and ONGC have decided to revise the contract terms. It was in February this year that the Union Cabinet had cleared the handing over of 66 discovered marginal oil and gas fields by ONGC and Oil India (OIL) to private players. Industry sources said the revised terms might have to be again cleared by the Cabinet. A government official, however, said, "The process does not need any Cabinet clearance, as the ...

Govt set to lift price restrictions on all locally produced natural gas

A panel led by the Niti Aayog vice chairman has also suggested free-market pricing for natural gas produced from all fields to boost domestic output

OMPL plans to raise $510 million through foreign currency term loan

India Ratings and Research (Ind-Ra) has assigned an 'AAA/stable' rating

Only 8 bids for 7 oil blocks: Tweaked licensing terms draw little interest

The block in Rajasthan saw competition from ONGC and OIL but the five in Madhya Pradesh and one in West Bengal saw single bids from ONGC, DGH said

Pipeline dreams of gas-based economy: Hurdles in govt's $118-bn masterplan

Though the government is mulling options to create a gas hub, doing so demands higher volume and maturity in the domestic market

ONGC contract workers' claim to BPCL arbitration appeal: Key court orders

The HC allowed ONGC's petition and quashed the notification. Appealing against the order, the ONGC Labour Union defended the notification in the SC

Andhra villagers wary of flames from oil rig, want closure of ONGC plant

Fearful of the flames that have been rising from the oil rig, anxious villagers say they are afraid that it might catch fire and pose a threat to their lives

BPCL, HPCL slip up to 5% as Cabinet relaxes fuel retailing norms

With this, new players in the fuel-marketing space like Total, Adani, and Saudi Aramco -- and even super markets -- can open outlets for selling automobile fuel.

ONGC, Oil India bank on private players to boost production by end of FY20

At least 23 companies had shown interests in a pre-bid meeting held on September 17

ONGC, ExxonMobil tie up for oil exploration in India; plan to bid for OALP

On Monday, ExxonMobil had signed a pact with Indian Oil Corporation to expand its liquefied natural gas business initiatives in India

Modi to cancel meeting with global oil CEOs over scheduling issues: Report

The meeting, coordinated by the Niti Aayog, focuses on challenges posed by volatile oil prices, impacted by changing geopolitical situation.

12.5% cut in natural gas price is credit negative for ONGC: Moody's

The decline in natural gas revenue and earnings will have a limited effect on ONGC's metrics for fiscal 2020

Top stock picks by Religare Broking: Buy Muthoot Finance, Havells India

Stock recommendation by Religare Broking

Corporate tax cut can improve India Inc dividend by 40%: ICICI Securities

ONGC, BPCL, Coal India, Hero Motocorp, NMDC, Power Grid and Infosys are the top picks for the brokerage in the high-dividend space

Govt cuts gas price by over 12%, first such rate reduction since April 2017

The government cut the price of gas produced from difficult fields to $8.43 from $9.32, the PPAC notification said

From ONGC to Coal India, PSUs set to pay higher dividend with tax savings

The PSU stocks, though, could see risk due to greater disinvestment for fiscal 2020, global financial firmBank of America Merrill Lynch said

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 to invest Rs 13,000 crore in Assam to drill over 220 wells

The company said in a statement that it has signed an MoU with the Assam government for enhancing its exploration and production activities in the state