State-run explorer Oil and Natural Gas Corporation dropped over 4 per cent this Thursday, owing to concerns raised by investment banker Goldman Sachs over corporate governance issues. ONGC CMD R S Sharma, said: Any transaction is undertaken only after commercial due diligence and that there is no political influence in any overseas acquisition. For full [...]
India’s Oil and Natural Gas Corp said that it plans to resume full gas supplies from its South Bassein offshore gas fields from Friday after a planned shutdown of about seven days. For more information, click here
ONGC has been giving discount to cover one-third of the losses state-run oilmarketers were suffering for selling fuels at government-capped rates even during oil’s high run. For full story, click here
In a marked departure from their malleable dispositions, Oil and Natural Gas Corporation’s independent directors have questioned the discount on crude — given to state-run refiners under government orders — saying this is against the interest of shareholders, especially those with small holdings. For full story, click here
Tax holiday will be a major boost to gas-producing companies like RIL, ONGC and GSPC. For full story, click here
ONGC, India’s biggest energy exploration company, and other state-run explorers will pay refiners 320 billion rupees ($6.6 billion) as subsidies for selling fuels below cost in the year ending March, the government said. For full story, click here
Exploration firms led by RIL, ONGC and British Gas had raised objections alleging it discriminated against gas producers. For full story, click here
ONGC plans to spend 71.33 billion rupees ($1.5 billion) to increase output in the Mumbai High area off the west coast. For full story, click here
The government had put in place the existing subsidy burden-sharing regime for the petroleum sector as a strategy to cushion domestic fuel consumers from the impact of rising prices of crude oil in the international market. For full story, click here
State-run Oil and Natural Gas Corp today said it would hire three high-speed armoured vessels to safeguard its offshore oil installations from attacks in view of last week’s terror carnage in the city. For full story, click here
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