The Union government received bids from only two state-owned companies for the seven oilfields offered under the fourth round of Open Acreage Licensing Programme (OALP) auctions.
The strategic sale in BPCL by the government may pave the way for ONGC to find a strategic partner for its oil marketing company HPCL. ONGC acquired HPCL in FY18 for Rs 36,916 crore.
ONGC is currently trading at Rs. 126.85, up by 0.90 points or 0.71% from its previous closing of Rs. 125.95 on the BSE. The scrip opened at Rs. 126.50 and has touched a high and low of Rs. 127.00 and Rs. 125.50 respectively. So far 76056 shares were traded on the counter.
Oil and Natural Gas Corporation (ONGC), India’s largest petroleum explorer, plans to drill 24 exploratory wells in a new block in Cauvery asset off the east coast won under the third round of Open Acreage Licensing Policy (OALP) at a cost of Rs 672 crore
The cut in prices of domestically produced gas augurs well for companies such as GAIL as well as natural gas end-users including power, fertilisers and sponge iron companies, as it decreases the cost of manufacturing of urea, petrochemicals and power
Oil and Natural Gas Corporation (ONGC), the country’s largest petroleum explorer, is planning to invest Rs 4,254 crore to drill 656 wells in 52 Petroleum Mining Lease (PML) in the company’s Ahmedabad asset in Gujarat.
The Oil and Natural Gas Corporation (ONGC) on Wednesday announced it will invest more than Rs 13,000 crore in exploring oil and gas by drilling over 220 wells across Assam in the next five years.
The supply of auto fuel compressed natural gas (CNG) and piped natural gas (PNG), used for domestic cooking, was affected in Mumbai after a fire at the Uran plant of Oil and Natural Gas Corporation (ONGC).
India”s top oil and gas producer ONGC on Friday unveiled a USD 15-16 billion investment plan to double output from its domestic and overseas fields and expand its refining capacity three folds alongside diversification into renewables in a new vision document for 2040.
Oil and Natural Gas Corporation (ONGC) said on Thursday it has set up a euro medium-term note (EMTN) programme of two billion dollars which will be listed on Singapore Stock Exchange.