The Tapti field of the Panna-Mukta-Tapti consortium will be abandoned in a year's time by the consortium partners because of its wells' poor output. It will be the first offshore field to be abandoned in India.
State-owned ONGC could save up to $800 million on capital cost if it decides to use infrastructure facilities owned by Reliance Industries at KG-Basin for processing gas, according to a draft report submitted by Aker Solutions.
As part of its information technology (IT) initiatives, Assam-based Numaligarh Refinery Limited (NRL), a subsidiary of Bharat Petroleum Corporation Ltd (BPCL), today implemented a tripartite B2B (Business to Business) integration with upstream oil
Being among the biggest public sector companies is not the only common point between Oil and Natural Gas Corporation, Coal India and NTPC Ltd. Despite these companies doing well, full annual bonus to their employees has not accrued.
Having extended its stay in South China Sea to promote India's strategic interest, state-owned Oil and Natural Gas Corp is looking for an equity partner to continue exploration for oil and gas offshore Vietnam.
When the government approved a 10 per cent stake sale in state-run IndianOil Corporation Limited (IOCL) in January this year, directors at the Oil and Natural Gas Corporation (ONGC) and Oil India cringed.
The election commission's deferment of the gas price hikes led the stock prices of OIL India ONGC and Reliance Industries correct sharply on Tuesday though they recovered some lost ground by the end of the day.
Shares of Reliance Industries fell 2.87% a day after the Election Commission (EC) asked the government to defer the hike in gas prices, slated to increase to $8/mmbtu from 1 April, until after the general elections are over.
Stocks of key beneficiaries of gas price hike – Reliance Industries (RIL), OIL India and Oil and Natural Gas Corporation (ONGC) – slipping around 4% in intra-day deals after the Election Commission put on hold the proposed hike in gas prices
The state-owned oil exploration company has fixed March 29, 2014 as the "Record Date" for determining entitlement of shareholders for payment of second interim dividend for the financial year 2013-14, ONGC said in a statement.
State-owned Oil and Natural Gas Corporation (ONGC) has approved partner Cairn India’s move to raise the cost of developing the Bhagyam field in Rajasthan block by 30 per cent to $608 million, say sources.
Asking Oil and Natural Gas Corporation and Oil India to pick up 10% stake in Indian Oil Corporation for meeting the divestment target may have invited wrath from some quarters but data suggests cross-holdings were not a lost game for state-run oil majors.
State-run Oil and Natural Gas Corporation (ONGC) and Oil India Ltd (OIL) have picked up 10 per cent stake in Indian Oil Corporation (IOC) for Rs 5,340 crore, as part of the government’s strategy to meet the divestment target for this financial