India's upstream public sector oil companies are likely to report stronger earnings on the back of higher crude realisations in the quarter ending June 30, 2015. Downstream refiners, however, could see a moderation in earnings led by weaker refining
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 in the Bay of Bengal into three clusters to quickly bring them to production, a senior company official said.
The Ministry had on February 23 suspended Shankar following allegations of irregularities in a tender for buying 21 Blowout Preventers (BOP). However, a chargesheet against him could not be filed within the stipulated 90 days.
The lifting of economic sanctions against Iran as a result of the just concluded nuclear deal with six world powers will lead to slide in oil prices and thus augurs well for India, petroleum minister Dharmendra Pradhan has said.
Buoyed by Iran’s historic nuclear accord with world powers to end sanctions, India will ask Tehran for rights to develop ONGC-discovered Farzad-B gas field in the Persian Gulf even as it prepares to pay $6.5 billion in past oil dues.
The Supreme Court last week dismissed a large number of appeals, moved by Oil and Natural Gas Commission (ONGC) on behalf of its foreign partners, seeking exemption from surtax in respect of agreements for prospecting, extraction and production of mineral
With the economy showing signs of revival, engineering major Larsen & Toubro has decided to go slow on its international business by restricting overseas orders to 25 per cent, a top company official has said.
Reliance Industries has overtaken state-owned Oil and Natural Gas Corp (ONGC) to become the nation's most profitable company, posting a consolidated net profit of Rs 23,566 crore in the 2014-15 fiscal.
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.