Following the upgrade of India’s sovereign rating to “Baa2”, Moody’s has also upgraded the issuer rating for five government-owned companies in the oil and gas sector to Baa2 from Baa3.
Oil and Natural Gas Corporation(ONGC) share price fell nearly 2 percent while oil retailers HPCL, BPCL and IOC gained 1-2 percent intraday Wednesday, after sharp correction in crude oil prices.
Oil and Natural Gas Corporation Ltd (ONGC) is not yet clear about the valuation of Hindustan Petroleum Corporation Ltd (HPCL), the oil marketing company it expects to acquire by around March next year.
To encourage judicious utilisation of petroleum products, the Hindustan Petroleum Corporation Limited (HPCL) today kick-started a campaign by organising a cycle rally here.
State-run Hindustan Petroleum Corporation Ltd (HPCL) is entering a new phase, with Oil and Natural Gas Corporation (ONGC) expected to take over the firm by March-end.
State-run ONGC aims to complete the acquisition of oil marketing company Hindustan Petroleum Corporation by March, the chairman and managing director of the oil explorer said Saturday.
State-owned oil refiner Hindustan Petroleum Corp Ltd’s second-quarter net profit more than doubled, but fell short of analysts’ estimates.
A consortium of Indian companies led by ONGC Videsh (OVL) is likely to acquire a 49 per cent stake in Russia’s Vankor cluster oilfields owned by Rosneft by February 2018.
After several weeks of delay, the government has sent ONGC an information memorandum (IM) based on which the state-owned firm would make an offer to buy majority stake in HPCL, officials said.
Hindustan Petroleum Corp Ltd (HPCL) is likely to acquire Mangalore Refinery and Petrochemicals (MRPL) in a share-swap deal to become India’s second-largest oil refiner.