State-run petroleum explorer Oil and Natural Gas Corporation (ONGC) on Thursday reported a 19.5 per cent decline in standalone net profit for the quarter ended March 2015 on higher operating costs, lower prices and write-offs of dry wells that did not
ONGC Videsh Ltd (OVL), the unlisted overseas arm of state-run petroleum explorer Oil and Natural Gas Corporation (ONGC), today said its net profit for the financial year ended march (2014-15) stood at Rs 1,904 crore, a 57 per cent slump as compared to the
The markets are seeing mild profit-booking this morning after rallying more than 2% in the past week.At 10.30am, the Sensex was at 27,817, weaker by 139 points and the Nifty was quoting below its crucial technical level of 8,450 at 8,417, down 39 points.
The oil ministry has set interim rules that exempt state-run upstream companies from giving any discount on crude and refined fuel sales if global oil prices average up to $60 a barrel this quarter, two sources with direct knowledge of the matter said.
State-run Oil and Natural Gas Corporation and its partner, Cairn India, are readying to spend between $750 million and $1 billion (Rs 4,800-6,400 crore) in the Nagayalanka onshore block in the Krishna-Godavari Basin.
State-owned ONGC has approached the Ministry of Environment and Forests (MoEF) seeking clearance for drilling 45 Development Wells and other related infrastructure involving a cost of over Rs 53,000 crore in Krishna-Godavari basin.
The government may allow a part of the natural gas produced by firms like ONGC and Reliance Industries from new discoveries to be sold at market price as it looks to boost domestic exploration and production.
Oil and Natural Gas Corporation (ONGC) is likely to react to the news that it will start its biggest ever exploration in Mahanadi basin area this fiscal to find out ways for commercial exploitation of fuels.
Oil and Natural Gas Corporation (ONGC), will start its biggest ever exploration in Mahanadi basin area this fiscal to find out ways for commercial exploitation of fuels, said its chaiman cum managing director Dinesh K Sarraf, at an event here.
The spike in crude oil prices has brought cheer to exploration and production companies, even as refiners turn cautious. The stock market, however, meted the same treatment to downstream and upstream oil companies.
Shares of state-owned oil exploration companies - Oil and Natural Gas Corporation (ONGC) and Oil India were trading higher by up to 5% on reports that the government has decided to scrap the fuel subsidy-sharing mechanism and bear the entire burden of
An expansion of discoveries in the KG-D5 block (KG for the Krishna-Godavari basin), higher volume considerations, and an expected delay in the development of Cluster 1 discoveries - all these have prompted Oil and Natural Gas Corporation (ONGC) to shun an
Oil exploration shares such as Reliance Industries and ONGC were trading marginally in an otherwise weak market after the government announced a policy for development of oil and gas discoveries.There are three options to choose from.