The Centre has signed contracts with winners of blocks awarded under the Discovered Small Fields (DSF) Bid Round-II. Oil and Natural Gas Corporation (ONGC) has bagged five blocks, while Oil India Limited (OIL) has cornered two blocks in this round.
The government has deferred for the second time the deadline for submission of bids in the auction of 25 oil and gas fields that hold resources worth an estimated Rs 1 lakh crore, upstream regulator DGH said.
The merger of two Oil and Natural Gas Corporation (ONGC) subsidiaries — Mangalore Refineries and Petrochemicals (MRPL) and Hindustan Petroleum Corporation (HPCL) — is unlikely to happen in FY19.
Reiterating his commitment to deliver on the poll promise of electricity for all, Prime Minister Narendra Modi, on Monday unveiled a flagship programme called “Saubhagya Pradhan Mantri Sahaj Bijli Har Ghar Yojana” to provide power to all households in the country by December 2018.
Oil and Natural Gas Corporation, the state-owned oil and gas explorer, recorded a 6.54 percent drop in net profit at Rs 4,340 crore for the quarter ended March 2017 on account of higher expenses which rose a whopping 47 percent.
The state-owned Oil and Natural Gas Corporation (ONGC) will open up Indias eighth sedimentary basin — the first in over three decades
India has an estimated 96 trillion cubic feet of recoverable shale gas reserves and the government is eager to tap them. Oil and Natural Gas Corporation and Oil India have already spent Rs 199.47 crore on shale gas exploration in the country.