fetching latest news

News tagged in:  

ONGC NEWS

Here's how windfall tax will impact Reliance, ONGC and OIL India
July 5, 2022

Here's how windfall tax will impact Reliance, ONGC and OIL India

The government recently imposed a windfall tax on all refiners, including SEZ refineries, on the export of diesel, petrol, and air turbine fuel. Besides, it also imposed a cess on domestic crude output. Analysts said the development is a setback for refiners as they cut FY23 estimates steeply. The tax could potentially be used to offset OMC losses on auto fuel, analysts said. The government has raised export duty on diesel by Rs 13 a litre and on petrol by Rs 6 a litre. It has also raised export duty on ATF by Re 1 per litre. The government said Indian exporters would have to sell 50 per cent of petrol in the domestic market on total shipping bill while they have to sell 30 per cent of diesel in domestic market on total shipping bill. In addition, a cess of Rs 23,250 per tonne was imposed on crude produced domestically.

India makes big push for oil and gas exploration in Andaman deep water basin
June 30, 2022

India makes big push for oil and gas exploration in Andaman deep water basin

India is making a big push for oil and gas exploration in Andaman deep water basin with the government planning to fund an ONGC-led drilling campaign and easing clearances, according to people familiar with the matter. Increasing exploration at a break-neck speed is at the center of the government's plan to raise domestic production of oil and gas and cut imports at a time when high fuel prices are tormenting consumers. ONGC NSE -2.40 % plans to launch the drilling campaign in the Andaman offshore after the monsoon and is currently engaged in talks with ExxonMobil and Shell to involve them in the project, they said. ONGC is expected to drill 3-4 wells under the special program funded by the government in the Andaman Sea, with each well costing about Rs 350-400 crore, they added.gt

Govt re-advertises top post of oil and gas regulator PNGRB
June 25, 2022

Govt re-advertises top post of oil and gas regulator PNGRB

The government has for a second time in as many years re-advertised the post of chairman of oil and gas regulator PNGRB, which has been lying vacant since December 2020. The oil ministry this week issued an advertisement inviting applications for the post of chairman of the Petroleum and Natural Gas Regulatory Board.

ONGC weighs raising stakes in Russian oil despite Shell snub
May 19, 2022
Source: Economic Times

ONGC weighs raising stakes in Russian oil despite Shell snub

ONGC, Bharat Petroleum, Indian Oil, and Oil India have also held preliminary discussions among themselves to evaluate buying BP's 20% stake in Russian energy giant Rosneft.

ExxonMobil declares force majeure on Russian operations at Sakhalin.
April 28, 2022
Source: Energy Voice

ExxonMobil declares force majeure on Russian operations at Sakhalin.

ExxonMobil said Wednesday that it has declared force majeure for its Sakhalin-1 operations in Far East Russia after it became too difficult to ship crude oil due to sanctions, reported Reuters.

ONGC misses, IndianOil, BPCL, HPCL exceed capex target for 2021-22
April 26, 2022
Source: Energy World

ONGC misses, IndianOil, BPCL, HPCL exceed capex target for 2021-22

They plan to spend ₹1,11,000 crore in the current fiscal year. ONGC spent ₹26,621 crore, against its budgeted expenditure of ₹29,800 crore. Its overseas arm, ONGC Videsh, fell far short of its target.

ONGC set to revive prized India offshore gas development
April 26, 2022
Source: Upstream

ONGC set to revive prized India offshore gas development

EPC tender for further development of Daman field off the west coast could be tendered in May

ONGC commissions Rs 6,000 cr projects to boost oil, gas output
April 25, 2022
Source: Energy World

ONGC commissions Rs 6,000 cr projects to boost oil, gas output

Oil Minister Hardeep Singh Puri dedicated the two major projects to the nation at Western offshore on April 23. He was accompanied by chairman Alka Mittal, Director (T&FS) O P Singh and Director (Offshore) Pankaj Kumar.

French contractor to boost output at ONGC's fields
April 20, 2022
Source: Upstream

French contractor to boost output at ONGC's fields

French multinational contractor SNF Flopam has won new enhanced oil recovery work for India’s state-owned giant Oil & Natural Gas Corporation.

ONGC adopts new drilling technology MPD in Tripura; Successfully drills 3 wells
April 18, 2022
Source: Energyworld

ONGC adopts new drilling technology MPD in Tripura; Successfully drills 3 wells

The new technology - Managed Pressure Drilling (MPD) proved to be beneficial in the state because conventional drilling could not be used in these geographical locations.

Top Oil & Gas Stocks To Watch Now As Suggested By Emkay Global
April 12, 2022
Source: Good Returns

Top Oil & Gas Stocks To Watch Now As Suggested By Emkay Global

The brokerage firm Emkay Global Financial Services Ltd has picked up stocks from the oil and gas space with ONGC, Oil India, GAIL, Indian Oil, BPCL, HPCL, Gujarat State Petronet, Petronet LNG, and Gulf Oil Lubricants as its top picks to buy.

Natural gas price hike supports upstream profitability: Fitch
April 6, 2022
Source: Energy World

Natural gas price hike supports upstream profitability: Fitch

From April 1, the government has raised the price of gas for old fields of state-owned Oil and Natural Gas Corporation (ONGC) and Oil India Ltd (OIL) to USD 6.1 per million British thermal unit for April-September 2022 from USD 2.9.

ONGC To Commercialise Vindhya Basin In Central India
April 1, 2022

ONGC To Commercialise Vindhya Basin In Central India

State-run ONGC on March 31 said it will commercialise the Vindhyan gas basin located in the central Indian state of Madhya Pradesh. This would be the ninth producing basin of India.

India seeks to sell 1.5% stake in ONGC
March 30, 2022
Source: Energy Voice

India seeks to sell 1.5% stake in ONGC

India plans to sell as much as 1.5% stake in state-run Oil & Natural Gas Corp., via an offer for sale starting Wednesday, according to an exchange filing.

Two Indian state-run refiners to buy Russian oil from Sakhalin-1 project
March 29, 2022
Source: Energy World

Two Indian state-run refiners to buy Russian oil from Sakhalin-1 project

ONGC Videsh, overseas arm of the state-run explorer, has a 20% stake in the Sakhalin-1 project in Siberia and is responsible for sale of its share of oil from the project.

Rajarshi Gupta to be new OVL head
March 16, 2022
Source: Energy World

Rajarshi Gupta to be new OVL head

Government headhunter Public Enterprise Selection Board (PESB) choose Gupta, who is currently executive director at Oil and Natural Gas Corporation (ONGC), after interviewing six candidates, according to a PESB notification.

ONGC fails to get bids in its tender to sell Russian oil
March 11, 2022
Source: Energy World

ONGC fails to get bids in its tender to sell Russian oil

This was the first tender by ONGC Videsh, since the war in Ukraine began on Feb. 24.

ONGC surges 5%, stock nears 52-week high as crude oil soars to a 14-yr high
March 7, 2022

ONGC surges 5%, stock nears 52-week high as crude oil soars to a 14-yr high

Shares of Oil and Natural Gas Corporation (ONGC) rallied 5 per cent to Rs 172.65 on the BSE in Monday’s intra-day trade in an otherwise weak market on the back of rising crude oil prices.

Please Login to Save News for Later