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Oil and Natural Gas Corporation Limited (ONGC) Related news

Maharshtra Seamless surges 4% on bagging order from ONGC

Maharshtra Seamless surges 4% on bagging order from ONGC

Shares of Maharashtra Seamless rose 3.7 per cent to Rs 373 on the BSE on Monday on receipt of an order from Oil and Natural Gas Corporation (ONGC) worth Rs 500 crore.

In an exchange filing, the company said it has bagged order for supply of seamless castings to ONGC.

Twin ONGC strikes in Colombia and Brazil

Twin ONGC strikes in Colombia and Brazil

ONGC Videsh (OVL) on Wednesday said it has struck oil in Colombia and gas in Brazil, which will boost its energy reserves in the Latin American countries.

OVL found oil in Colombia’s onshore exploration block CPO-5 in the Llanos basin and natural gas in a deep offshore exploration block — BM-SEAL-4 — in Brazil’s Sergipe Alagoas Basin, the company said in a statement.

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

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

Global energy major ExxonMobil and state-run Oil and Natural Gas Corporation (ONGC) have tied up for oil exploration in India. The two companies will jointly bid for the upcoming Open Acreage Licensing Policy rounds.

The two oil majors signed a memorandum of understanding (MoU) on Tuesday. This will enable them to to “undertake joint technical studies and cooperate in frontier areas like deepwater and other Petroleum Exploration Licence (PEL) blocks of ONGC in the East and West coast and open acreages for joint bidding”.

Natural gas price cut to hurt ONGC earnings by Rs 1,460 crore: Moody’s

Natural gas price cut to hurt ONGC earnings by Rs 1,460 crore: Moody’s

The recent reduction of gas prices by the central government would lead to state-owned Oil and Natural Gas Corporation (ONGC) lose Rs 1,460 crore revenue from its gas business, rating agency Moody’s said on Thursday. The decline is equal to 0.3% of ONGC’s expected consolidated revenue and around 2% of consolidated earnings before interest, tax, depreciation and amortisation for FY20.

ONGC on gas leak report: No leakage at Uran plant; all precautionary measures taken

ONGC on gas leak report: No leakage at Uran plant; all precautionary measures taken

State-owned Oil and Natural Gas Corporation (ONGC) on Wednesday said that there is no leakage at its Uran plant days after a gas leak was reported from the facility. The smell of hydrocarbon was felt today early morning that spread due to incessant rains, India’s largest oil and natural gas company said. “At ONGC Uran plant smell of hydrocarbon felt early Morning which was spread due to incessant rains. There is no leakage. All precautionary measures in place.

ONGC unveils Rs 13,000cr Assam plan

ONGC unveils Rs 13,000cr Assam plan

Oil and Natural Gas Corporation on Wednesday said it would invest more than Rs 13,000 crore in exploring oil and gas in Assam by drilling over 220 wells across the state in the next five years.

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

ONGC plans to invest Rs 13,000 crore in Assam

ONGC plans to invest Rs 13,000 crore in Assam

Oil and Natural Gas Corporation (ONGC) 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 for this.

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

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

The Oil and Natural Gas Corporation (ONGC) on Wednesday announced it will invest more than Rs 13,000 crore in exploring oil and gas by drilling over 220 wells across Assam in the next five years.

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.

ONGC yet to get complete legal ownership of GSPC's KG Basin gas block

ONGC yet to get complete legal ownership of GSPC's KG Basin gas block

Two years after acquiring an 80 per cent stake in Gujarat State Petroleum Corporation’s (GSPC) KG Basin gas block, state-run Oil and Natural Gas Corporation (ONGC) is yet to get complete legal ownership of the block.

Two senior company executives said “the production sharing contract (PSC) of the block is yet to be transferred to ONGC”. The deal was completed in August 2017, for which ONGC paid about ~7,738 crore.

4 killed in fire at ONGC plant in Navi Mumbai; rescue operation underway

4 killed in fire at ONGC plant in Navi Mumbai; rescue operation underway

Four people were killed and three others injured after a fire broke out at the Oil and Natural Gas Corporation's (ONGC) plant in Navi Mumbai township of Maharashtra on Tuesday, police said.

The ONGC said there was no impact on oil processing and that the gas was diverted to its Hazira plant in Surat district of Gujarat.

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