Domestic gas prices are set to fall about nine per cent to $5.01 per million British thermal units (mBtu) on the basis of net calorific value (NCV) and $4.56 on gross calorific value (GCV) from April 1, owing to lower global benchmark prices last
Shares of companies engaged in oil exploration and production business have hit 52-week lows after the government lowered the domestic gas price by over 10% to $5.02 mmBtu (metric million British thermal units).
Shares of Reliance Industries, Oil and Natural Gas Corporation (ONGC), Tata Steel, Bank of India and Reliance Communications are among 258 stocks that hit 52-week low on the BSE (Bombay Stock Exchange) in intra-day trade today.
The government could raise Rs 22,574 crore ($3.6 billion) from the sale of stakes in four state-run firms including Oil and Natural Gas Corp (ONGC) and National Aluminium Co Ltd (NALCO), Junior Finance Minister Jayant Sinha said on Friday.
Following a request made by West Godavari district administration, the Rajahmundry Asset of ONGC lifted water from the Godavari River and released it into the canal to save the standing paddy crop suffering due to acute water shortage, a senior official
The government is examining CAG allegations of irregularities in ONGC hiring a deep sea drilling rig from Reliance Industries and will take appropriate action, Oil Minister Dharmendra Pradhan said today.
Looking at the amount of media coverage that the oil sector and the Ministry of Petroleum & Natural Gas get, one would assume there is little more they could ask for. Maybe, the ministry finds that not enough is being said about its pet projects.
Oil Ministry is keen to protect state-owned ONGC from subsidy burden in the March quarter as volatility in crude oil prices have taken a hit on its finances, Petroleum Minister Dharmendra Pradhan said today.
The government’s idea to suspend trading in public sector undertakings (PSUs) on divestment day has not gone down well with the market players, who feel the proposal is unfair and would put existing investors in a spot.
To meet the disinvestment target of Rs 69,500 crore for 2015-16, the highest ever, the government has in place a pipeline, in various stages of regulatory approval, Disinvestment Secretary Aradhana Johri said on Tuesday.
Budget 2015-16, to be presented in Parliament on Saturday, is likely to be a major positive for upstream oil and gas companies, including Oil and Natural Gas Corporation (ONGC), but might not be a game-changer for downstream firms such as Indian Oil
Shares of oil and gas companies are under pressure with the Oil and Natural Gas Corporation (ONGC) hitting 11-month low on the BSE today.ONGC has dipped 3.5% to Rs 313, its lowest level since March 2014, on BSE.