Crude Oil Production

Photo: Business Standard

Sale Of Domestically Produced Crude Oil To Be Deregulated: Cabinet Committee

The cabinet committee approved the deregulation of the sale of domestically produced crude oil, on June 29. The move has come with an initiative to further the growth of economic activities in the country and to incentivize making investments in the upstream oil and gas sector. The transperancy in the production and marketing of oil and gas has been brought to facilitate more operations.

Wed, 29 Jun 2022 - 08:04 PM / by Shibu Immanuel S

Tags: Oil, gas, Crude Oil, Cabinet Committee, ONGC

Courtesy: ANI

ONGC Logo

Photo: The Indian Express

Indian Govt To Sell 1.5% Stake In ONGC To Raise Rs 3,000 Crore

The Government of India will sell 1.5% of its stake in the Oil and Natural Gas Corporation (ONGC) to raise a fund of Rs 3,000 crore. The offer for sale will be open on March 30 and 31, and the floor price for one share will be Rs 159. Notably, the government owns 60.41% of the stake in ONGC, which is estimated to produce half of India's oil and gas.

Tue, 29 Mar 2022 - 09:05 PM / by Shibu Immanuel S

Tags: GoI, ONGC, business, Fund Raising, Shares

Kidnapped ONGC employee Ritul Saikia

Photo: Pratidin Time

ULFA(I) Militants Return Kidnapped ONGC Employee After A Month

ONGC employee Ritul Saikia, kidnapped by ULFA(I) militants was released on May 22 on Assam CM Himanta Biswa Sarma's appeal. The police stated that Saikia has been reported healthy and other medical check-ups will be conducted to ensure safety before sending him home. CM Sarma also welcomed the three-month unilateral ceasefire declared by ULFA(I) and urged ULFA(I) chief Paresh Barua for further peace discussions.

Sat, 22 May 2021 - 06:50 PM / by Sohini Mandal

Tags: Kidnapping, ULFA, ONGC, Himanta Biswa Sarma, Ritul Saikia

Courtesy: The Economic Times

ONGC employees abducted

Photo: The Indian Express

Security Forces Rescue 2 ONGC Employees After Encounter In Nagaland

The Army, Paramilitary and Nagaland Police in a joint operation rescued two ONGC employees from the Indo-Myanmar border in Nagaland after an encounter on April 24. Reportedly, three ONGC employees were kidnapped by the ULFA(I) militants from the Lakwa oilfield in Sivasagar district along Assam-Nagaland border on April 21. Meanwhile, security forces have launched a search and rescue operation for the third missing ONGC employee.

Sat, 24 Apr 2021 - 04:28 PM / by Sohini Mandal

Tags: Myanmar, India, ONGC, Nagaland, Lakwa oilfield, ULFA

Courtesy: The Economic Times

Representational image

Photo: Forbes India

Sensex Clocks All-Time High With 52,500 Points, Nifty Ticks 15,400

Indian benchmark BSE Sensex on February 16 surged over 300 points to touch an all-time high of 52,516.76 in early trade. Amid positive trend in global markets, index majors HDFC twins, Kotak Bank and Reliance Industries had driven the early gains. While ONGC emerged as the prime gainer, soaring by 4%, it was followed by IndusInd Bank, Kotak Bank, PowerGrid, SBI and Tech Mahindra. Besides, NSE Nifty also logged 15,431.75 points for the first… read-more

Tue, 16 Feb 2021 - 12:08 PM / by Ashly Ann Varghese

Tags: BSE SENSEX, NSE NIFTY, Reliance Industries, ONGC, Kotak Bank, Tech Mahindra

Representational image of Oil refinery

Photo: Google

ONGC Likely To Lose Exploration Rights Over Oil-block Discovered In Iran

After investing $400 million, India's ONGC Videsh Limited (OVL) may lose the 'oil-exploration rights' over Farzad-B gas-field in Iran. According to unconfirmed sources, National Iranian Oil Co has found a domestic company for the development of the oil-block. Reportedly, after continuous inconclusive negotiations between 2012-2018, nothing was realised due to difficult terms and international-sanctions against Iran. In 2008, OVL discovered… read-more

Mon, 19 Oct 2020 - 02:56 AM / by Nitesh Kumar Singh

Tags: Iran, India, ONGC, ONGC Videsh Limited, Farzad-B, oil field, Middle East, Sanctions

Courtesy: Deccan Herald

ONGC fire outbreak

Photo: Times of India

Gujarat: Massive Fire At ONGC Plant In Surat; No Casualities Reported

Consecutive explosions have been reported at the ONGC plant in Gujarat at around 3:00 AM on September 24. A massive fire broke out after three consecutive blasts took place at ONGC Hazira plant in Surat. Surat Collector Dhaval Patel said the firefighters are at the spot and taming the fire, and no casualties have been reported. He added, "The activity of depressurizing the pressurized… read-more

Thu, 24 Sep 2020 - 10:57 AM / by Tania Mukhopadhyay

Tags: ONGC, Gujarat, Surat, Massive Fire

ONGC

Photo: My Nation

ONGC Exits From Sudan Due to Payment Issues; Dues of $430 Million Not Paid

Oil and Natural Gas Corporation (ONGC) withdrew from Sudan Oil Fields because of the payment issues. Reportedly, It's international arm, ONGC Videsh Limited (OVL) is yet to receive a pending amount of $430.69 million from the Sudanese Government. An official stated that ONGC failed to recover the amount through diplomatic talks, and initiated separate arbitrations for it. "OVL terminated the Exploration and Production Sharing Agreement (EPSA… read-more

Wed, 16 Sep 2020 - 03:07 PM / by Mahadevan K V

Tags: ONGC, Sudan, OVL, oil field

Courtesy: The Economic Times