Iran promises licence to India for developing Farzad gas field

Last Updated: Wednesday, August 12, 2015, 23:41

Iran has promised India the licence to develop ONGC-discovered Farzad-B gas field in the Persian Gulf and has asked the state-owned firm to submit an investment plan, an executive said Wednesday.

Profit making PSUs may be asked to submit IPO plans to govt

Last Updated: Sunday, August 9, 2015, 11:58

Profit-making unlisted PSUs and their subsidiaries may have to submit listing plans while signing annual performance pacts with the government, a move aimed at helping the Centre garner resources and unlocking the value of many state-owned firms.

Mahawar takes over as ONGC director

Last Updated: Saturday, August 1, 2015, 19:05

Ved Prakash Mahawar on Saturday took over as Director (Onshore) of state-owned Oil and Natural Gas Corp (ONGC).

Talks with Kuwait's PIC remain inconclusive: ONGC

Last Updated: Thursday, July 30, 2015, 17:05

State-owned Oil and Natural Gas Corp on Thursday said the talks to sell stake in long-delayed mega petrochemical plant at Dahej in Gujarat to Kuwait's Petrochemical Industries Company (PIC) remain inconclusive.

ONGC to invest $8.8 bn in KG oil and gas finds

Last Updated: Sunday, July 26, 2015, 12:27

ONGC has divided 12 oil and gas finds in the block KG-DWN-98/2 or KG-D5 and gas discovery in an adjacent G-4 block the Bay of Bengal into three clusters to quickly bring them to production.

FinMin mulling transferring stake in divestment-bound oil PSUs

Last Updated: Monday, July 20, 2015, 21:31

Ahead of government's plans to sell stake in oil companies, the Finance Ministry is considering to transfer some stake in disinvestment-bound PSUs to a separate company to insulate it from market volatility.

ONGC Videsh loses bid for two oil blocks in Mexico

Last Updated: Friday, July 17, 2015, 18:23

ONGC Videsh Ltd, the overseas arm of state-owned explorer Oil and Natural Gas Corp (ONGC), has lost out on its bid for two oil blocks in Mexico's first licensing round in 88 years.

Oil Min reinstates Shashi Shankar as ONGC Director

Last Updated: Thursday, July 16, 2015, 15:17

The Oil Ministry has reinstated Shashi Shankar as Director (Technology and Field Services) of Oil and Natural Gas Corp (ONGC) pending an inquiry into alleged irregularities in an unawarded Rs 23 crore tender of 2011.

Protest affects ONGC's production in Assam

Last Updated: Monday, July 13, 2015, 21:52

Production at all oil fields of Oil and Natural Gas Corporation (ONGC) in Assam was affected Monday following a 100-hour 'ONGC bandh' called by All Assam Students Union to press for their various demands.

OilMin to remind Finance Ministry on gas price premium soon

Last Updated: Monday, July 13, 2015, 14:07

The Oil Ministry is putting out a reminder to the Finance Ministry for an early decision on allowing market price for part of the natural gas produced by firms like ONGC and RIL from difficult fields.

OVL not to exit Vietnam block despite poor prospectivity

Last Updated: Sunday, July 12, 2015, 12:26

OVL has decided to seek a third extension of exploration licence for Block 128 to maintain India's strategic interest in the South China Sea, a top official said.

Oil service firms jostle for India orders amid global spending cuts

Last Updated: Thursday, July 9, 2015, 10:18

State-run Oil and Natural Gas Corp (ONGC) plans to boost its capital spending by more than a fifth to 362.49 billion rupees ($5.7 billion), in stark contrast to analysts` forecasts for energy firms globally to cut spending by a fifth in 2015.