ONGC seeks gas price review; wants floor rate fixed at $4.2
State-owned Oil and Natural Gas Corp (ONGC) has sought a review of the natural gas pricing formula as rates have dropped below cost.
Mar 22, 2017, 15:35 PM IST
ONGC signs pact to buy out GSPC's KG block stake for $1.2 billion
State-owned Oil and Natural Gas Corporation (ONGC) has signed definitive agreements to buy out debt-ridden GSPC's entire 80 per cent stake in KG-basin natural gas block for USD 1.2 billion.
Mar 19, 2017, 12:01 PM IST
ONGC may shift proposed basin from Tripura to Assam
The ONGC board is likely to take a decision on the upcoming second basin of North East in the next six months.
Mar 16, 2017, 16:02 PM IST
Merger talks of ONGC, HPCL on at ministerial level
State-owned oil major ONGC has said the preliminary discussion for its acquisition of India's third-biggest fuel retailer HPCL has started and is going on at the ministerial level.
Mar 15, 2017, 14:29 PM IST
OilMin moves Cabinet to get RIL, ONGC pricing freedom
In a boost to firms like Reliance Industries and ONGC, the oil ministry has moved a proposal to the Cabinet for allowing pricing freedom for natural gas produced from coal seams.
Mar 14, 2017, 14:32 PM IST
Govt bails out ONGC, OIL of Rs 22,000 cr royalty liability
The central government will pay two state-owned firms' outstanding liabilities of Rs 14,698 crore directly to the state governments, who will not insist on levy of Rs 7,223 crore interest on payments that were due from April 2008.
Feb 28, 2017, 15:41 PM IST
ONGC may acquire HPCL in $6.6 bn deal
Oil and Natural Gas Corp will take control of Hindustan Petroleum Corp as part of the government`s plan to create an integrated public sector oil entity.
Feb 27, 2017, 09:51 AM IST
ONGC takes $239 million hit from royalty payments
Oil and Natural Gas Corp will take a 16 billion rupee ($239 million) hit to its quarterly earnings to account for previous royalty payments to two states.
Feb 21, 2017, 23:13 PM IST
Top seven companies add Rs 48,519 crore in m-cap
Seven of the top-10 most valued Indian companies together added Rs 48,518.62 crore in market valuation last week, with HDFC Bank emerging as the biggest gainer.
Feb 19, 2017, 11:43 AM IST
Cabinet nod for 31 bids for small oil, gas fields exploration
The Cabinet Committee on Economic Affairs, Wednesday gave its approval to award contract in 31 contract areas (44 fields – 28 onland and 16 offshore) of discovered small fields of Oil and Natural Gas Corporation (ONGC) and Oil India Limited (OIL).
Feb 15, 2017, 20:58 PM IST
Singapore-based arbitrator to preside over RIL-ONGC dispute
Singapore-based arbitrator Prof Lawrence Boo has been named as the presiding judge of a three- member arbitration panel that will go into the validity of government's demand of USD 1.55 billion compensation from Reliance Industries for "unfairly" producing ONGC's gas.
Feb 08, 2017, 17:50 PM IST
ONGC to buy 80% stake in GSPC's KG gas block for $995 billion
State-owned Oil and Natural Gas Corporation (ONGC) on Friday said it will acquire 80 percent stake in debt-laden Gujarat State Petrochemicals Corporation's KG basin gas block for USD 995.26 billion.
Dec 23, 2016, 22:46 PM IST
RIL slaps arbitration notice on govt over $1.55 bn demand: Minister
Reliance Industries has slapped an arbitration notice on the government over a demand USD 1.55 billion demand made on it for "unfairly enriching" by producing natural gas belonging to ONGC, Oil Minister Dharmendra Pradhan said today.
Nov 16, 2016, 20:53 PM IST
RIL serves arbitration notice to government on ONGC gas dispute
Reliance Industries Ltd (RIL) has served a notice to the government for arbitration after the Petroleum Ministry asked it to pay $1.55 billion for allegedly producing gas from a well in the eastern offshore KG Basin connected to a field of state-run Oil and Natural Gas Corp. Ltd (ONGC).
Nov 15, 2016, 21:03 PM IST
Cairn India PSC extension: HC directs govt to decide within 2 months
Delhi High Court Monday directed the government to positively take a decision within two months regarding extension of a production sharing contract (PSC) it has with Cairn India, a subsidiary of UK-based Vedanta group, to produce oil from a Rajasthan block till 2020.
Nov 07, 2016, 16:58 PM IST
ONGC gas row: Reliance to contest $1.55 billion penalty imposed by government
India`s Reliance Industries Ltd is to contest a $1.55 billion fine imposed by the government on the company and its partners for selling gas belonging to the blocks of Oil and Natural Gas Corp, Reliance said in a statement.
Nov 04, 2016, 22:13 PM IST
Reliance Indusries shares down nearly 2% as govt imposes $1.55 bn demand
Shares of Reliance Industries fell by nearly 2 percent today after the government slapped a USD 1.55 billion demand on the company and its partners BP and Niko for "unfairly enriching" by producing natural gas belonging to ONGC.
Nov 04, 2016, 21:58 PM IST
ONGC gas row: Govt imposes $1.55 billion demand on Reliance Industries and its partners BP, Niko
Government has slapped a USD 1.55 billion demand on Reliance Industries and its partners BP and Niko for "unfairly enriching" by producing natural gas belonging to state-owned ONGC, a move that is most likely to land in arbitration.
Nov 04, 2016, 18:15 PM IST
ONGC, Cairn India face Rs 730 crore service tax on royalty payments
In a setback to energy firms like ONGC and Cairn India, the government will from this fiscal levy service tax of about Rs 730 crore on royalties they pay to the exchequer on oil and gas they produce.
Nov 03, 2016, 15:48 PM IST
Reliance Industries-ONGC gas row: Arbitration next port of call
As oil regulator DGH finalises the amount Reliance Industries may have to pay for producing ONGC's gas, the matter appears headed for arbitration owing to the premise used by AP Shah Committee that went into the issue.
Nov 01, 2016, 16:26 PM IST
