Page 45 - Ongc

ONGC takes a hit on equity investment in HPCL, Indian Oil over fuel subsidy

There has been a sharp fall in the share price of OMCs in the last 2 days after the govt announced that they would have to absorb subsidy on diesel and petrol

ONGC to wait for right price before offloading shares in IOC, GAIL

Initially, ONGC considered selling its stake in IOC and GAIL to fund the acquisition, but it has never found the right price to offload the shares

ONGC betting big on second, third rounds of OALP auctions, DSF-II

New Delhi, 1 October State-run Oil and Natural Gas Corporation (ONGC) is betting high on the second and third round of auctions under the Open Acreage Licensing Policy (OALP) for petroleum blocks. It has given a formal Expression of Interest (EoI) for seven areas in the second round and is in the process of doing so for discoveries in the Bay of Bengal region for the third round.Also, it would be participating in the second round of Discovered Small Fields auction (DSF-II) that has already been launched. "Of the 13 areas for which companies have submitted EOIs, ONGC has shown interest in seven. We are keen on DSF-II also as the small field policies are more lucrative. The company might also look for some areas in OALP-III," said a senior ONGC official. OALP is designed to allow companies carve out their own exploration areas, improving on gaps found in the earlier model. In the EoI stage, companies may carve out their area based on the National Data Repository. The the second stage ...

ONGC needs capex funds, seeks exemption from govt's share buyback request

ONGC needs the funds for its own capital expenditures

IIT Madras, ONGC sign agreement to boost operational lifecycle of platforms

Indian Institute of Technology, Madras (IITM) has announced collaboration with Oil and Natural Gas Corporation Limited (ONGC) to enhance the operational life cycle of the latter's existing platforms and reduce running and operating cost by optimum use of offshore survey requirements.IITM is going to develop a Database Management System for all the more than 280 platforms of ONGC and develop software for Structural Integrity Management System (SIMS) as well.Industrial Consultancy and Sponsored Research, IIT Madras, and Institute of Engineering and Ocean Technology (IEOT), ONGC, signed the agreement for the collaborative R&D project titled 'Development of Structural Integrity Management System (SIMS) For Offshore Platforms of ONGC'.The existing offshore platforms in Mumbai High have been operational for more than three decades. Though the design life has exceeded in some cases, oil and gas production still continues as their reservoirs are producing. Hence considerable effort has ...

ONGC's $1.6 bn stake sale hits hurdle as govt may reimpose fuel subsidies

Indian government held road shows in the US for stake sale

ONGC repays a third of Rs 248.81 billion loan taken to buy HPCL

ONGC has used internal resources to make the payment and thus will not sell its stake in IOC and GAIL in the near future

Higher realisations come as a boost to ONGC; volume growth may pick up

Volume growth, however, was tepid at three per cent for natural gas, while oil output was down four per cent

ONGC profit rises 58% in Q1 to Rs 61.4 bn on higher net realisation

ONGC gross revenue for the period under review was seen 43% up at Rs 272.13 bn, as against Rs 190.73 bn

ONGC gets board's nod to exit Pawan Hans by selling its entire 49% stake

Officials said ONGC of the view that its investment in Pawan Hans is no longer strategic as it charter hires helicopters to ferry staff to its oil and gas locations

Race for a flying deal: Govt to bundle ONGC stake for selling Pawan Hans

For the 51% stake on offer, the government had earlier set a reserve price of about Rs 3 bn

ONGC board gives in-principle nod for restructuring options of group firms

ONGC is looking at trimming down the structure by merging some of the subsidiaries

Once flush with $4.3 bn, ONGC has shed 90% of its cash to feed oil demand

Takeover of HPCL and record dividend payout scoop out a staggering $4.15 bn from its cash reserves

Spare ONGC: Govt must not force oil firms to subsidise consumers

There is considerable political pressure on the government as a result of these higher prices at the pump, which are partly caused by fuel taxes

HPCL merger: MRPL faces minimum 25% public shareholding norms test

MRPL has time till August 21 to meet minimum public shareholding norms; merger process could take much longer

ONGC clocks Rs 40-bn loss on gas output in FY18 due to fuel price capping

'Natural gas is no more a profitable business because cost of production is very significantly higher than current gas prices,' say ONGC official

To keep fuel rate in check, ONGC may get dividend waiver for price freeze

The plan to place a part of the oil price burden on ONGC has been doing the rounds for some time

ONGC Q4 profit up 36% at Rs 59 bn on back of high oil prices, lower levies

The oil major's total expense for the quarter declined by 6% to Rs 19.46 billion

ONGC Q4 net profit up 36% to Rs 59 bn on higher net realisation

Net realisation for the quarter stood at $66.71 a barrel, compared to $54.91 during the fourth quarter of 2016-17

Rising crude oil prices: Subsidy issues come to haunt ONGC again

ONGC's investors saw their holding values lag the broader markets during 2014-2016 as global crude oil prices fell.