Oil And Natural Gas Corporation

In a step towards enhancing safety and emergency response, energy major Oil and Natural Gas Corporation (ONGC) has ramped up its fleet of ambulances in Assam by adding 65 new vehicles, an official said on Friday. The new ambulances, which were leased from the Assam State Transport Corporation (ASTC) for a period of five years, were added to ONGC's fleet in Sivasagar, he said. Out of the total ambulances, 63 are equipped with essential features, like foldable seats, swiveling fans, autoloader stretchers and provisions for 2.2 L oxygen cylinders. "These ambulances will be strategically deployed across ONGC Assam Asset's operational sites, including drill locations, workover rigs and production installations," the official said. Besides, two advanced life support (ALS) ambulances fitted with critical life-saving equipment such as ventilators, defibrillators, suction pumps and oxygen delivery systems have also been hired, he said. The company has decided to deploy these two ALS ambula

ONGC said TSP will receive a fixed fee for the first two years, followed by a service fee based on a percentage share of the revenue from net incremental hydrocarbon production

Upstream player ONGC has seen strong buying although 3QFY25 is expected to be flat

The uptick in ONGC share price came after Hong Kong-based capital market firm CLSA upgraded ONGC to 'high-conviction outperform.' CLSA has set a price target of Rs 360 per share.

The government on Thursday gave letters of award to four entities, including BCGCL- a joint venture of CIL-BHEL - for availing fiscal incentives totalling Rs 4,150 crore for setting up coal gasification projects. Letters of Award (LoAs) have been given to CIL-BHEL , a consortium of CIL-GAIL , Coal India Ltd and New Era Cleantech Solution Pvt Ltd. "Ministry of Coal has reached a significant milestone in India's Coal Gasification Initiative with the issuance of LoAs to the selected applicants under Categories I and III of the Rs 8,500 crore Coal Gasification Incentive Scheme," the coal ministry said in a statement. BCGCL has been awarded Rs 1,350 crore of financial incentive under the scheme for its coal gasification project in Lakhanpur, Odisha. With a total investment of Rs 11,768 crore, the project aims to produce 0.66 million tonne per annum of ammonium nitrate. The CIL-GAIL joint venture project in Sonepur Bazari, West Bengal, has been awarded Rs 1,350 crore. This project, costi

State-owned Oil and Natural Gas Corporation (ONGC) has made four more discoveries since it first made an oil field near Asokenagar in West Bengal six years back but is still awaiting the state government's nod for a petroleum mining lease to develop them, Oil Minister Hardeep Singh Puri said on Thursday. ONGC notified the first Asokenagar discovery in Block WB-ONN-2005/4 on September 24, 2018, Puri said in a written reply to a question in Lok Sabha. The discovery, he said was the outcome of continuous exploration efforts of ONGC in the Bengal sedimentary basin over five decades. As per initial laboratory studies, crude oil, which is refined into fuels like petrol and diesel, discovered in the Ashokenagar discovery is a light variety with American Petroleum Institute (API) gravity of 40-41 degrees and is almost similar to Bombay High and Brent Crude. "ONGC, accordingly, applied on September 10, 2020, to the Government of West Bengal for a grant of Petroleum Mining Lease (PML) for an

The Board of Directors of ONGC has declared the first interim dividend of Rs 6 per equity share of face value of Rs 5 each for FY25

State-owned Oil and Natural Gas Corporation (ONGC) is looking to set up mini-LNG plants to evacuate natural gas from wells located in areas that are not connected with pipelines. The firm has identified five sites in Andhra Pradesh, Jharkhand and Gujarat for setting up mini plants at wellhead that will convert the gas pumped out from under the ground into liquefied natural gas (LNG) by supercooling it to minus 160 degrees celsius. This LNG will be loaded on cryogenic trucks and transported to the nearest pipeline where it will be reconverted into its gaseous state and pumped into the network for supply to users like power plants, fertilizer units or city gas retailers. ONGC has floated a tender seeking manufacturers/service providers to tap stranded natural gas, according to the tender. The locations identified for setting up mini-LNG plants in the tender are two sites at Rajahmundry in Andhra Pradesh and one each at Ankleshwar in Gujarat, Bokaro in Jharkhand and Cambay in ...

Oil and Natural Gas Corporation (ONGC) has got a new director to spearhead its new energy, petrochemicals and corporate strategy as part of a board revamp aimed at breathing fresh life into the state-controlled behemoth. Arunangshu Sarkar has been appointed as Director for strategy and corporate affairs, ONGC said in a stock exchange filing. Before the elevation, Sarkar, a petroleum engineer from the Indian School of Mines, Dhanbad, was Group General Manager (Production) at ONGC. He had previously worked as General Manager (Strategy & Corporate Planning), ONGC Videsh Ltd - the overseas investment arm of ONGC. Two years back, the board of ONGC was reorganised. Besides creating the new post of Director (Strategy & Corporate Affairs), the post of Director (Production) was created after merging Director (Onshore), who is in charge of all oil and gas fields located on land, and Director (Offshore) who looks after all offshore assets, such as the prime Mumbai High fields. In ...

While production was marginally down, higher cost of materials, cost write offs swelled expenses

India's largest crude oil and natural gas producer wrote off Rs 1,669.73 crore cost incurred in unsuccessful survey and drilling of wells to find oil and gas

Oil and Natural Gas Corporation (ONGC) has intensified operations to increase gas production in Tripura to feed power generation plants in the northeastern state, an official said on Monday. The decision comes amid reports of a reduction in gas supply to various gas-based power generation plants in the state. ONGC produced 1,527 million standard cubic metres (MMSCM) of gas in Tripura in the 2023-24 fiscal, while it has set a target of extracting 1,675 MMSCM gas in the current fiscal. "ONGC has been working to increase gas production so that sufficient gas is supplied to the gas-based power plants in Tripura. We have already set a target of extracting 1,675 MMSCM of gas during the current fiscal year (2024-25) while the production was 1,527 MMSCM in 2023-24," ONGC's Tripura Asset Manager Krishna Kumar told PTI. He said that ONGC will dig as many as 20 new wells for gas exploration in the financial year 2024-25 and one more rig will be added shortly to boost the exploration drive. At

ONGC Videsh Ltd, the overseas investment arm of state-owned Oil and Natural Gas Corporation (ONGC), has acquired Norwegian firm Equinor's stake in an Azerbaijan oilfield and an associated pipeline for USD 60 million, the firm said in a statement. OVL "has signed a definitive sale purchase agreement (SPA) for directly acquiring 0.615 per cent participating interest (PI) in offshore Azeri Chirag Gunashli (ACG) oil field in Azerbaijan from Equinor. The agreement also includes acquiring 0.737 per cent shares of the Baku Tbilisi Ceyhan (BTC) pipeline company through its wholly-owned subsidiary ONGC BTC Limited," it added. The acquisitions, expected to be completed in the upcoming months, involve a total investment of up to USD 60 million. OVL currently has a 2.31 per cent stake in the ACG field and 2.36 per cent in the BTC pipeline. The buyout of Equinor will help raise its stake. Equinor, in December last year, announced an agreement to sell all its remaining assets in Azerbaijan to SO

ONGC's board has recommended final dividend at the rate of Rs 2.50 per equity share of face value

State-owned Oil and Natural Gas Corporation (ONGC) is seeking a premium over the government gas price for the gas it plans to produce from coal seams in Jharkhand. ONGC has sought bids from users for sale of 0.05 million standard cubic metres per day of gas from the North Karanpura coal-bed methane (CBM) block for three years. Users have been asked to quote a premium they are willing to pay over and above the monthly domestic natural gas price that the Oil Ministry's Petroleum Planning and Analysis Cell (PPAC) notifies, the tender document showed. PPAC every month declares a price for the majority of domestically produced natural gas. This price is 10 per cent of the monthly average of the basket of crude oil that India imports. For the month of January, this price comes to USD 7.82 per million British thermal unit. This price in the ONGc tender has been marked as reserve gas price. While the government sets price for two-thirds of the gas produced in the country, CBM gas enjoys .

India's top oil and gas producer ONGC is seeking global technology partners to cut gas flaring and achieve zero methane emission by 2030 as part of its ambitious decarbonisation plan, its chairman Arun Kumar Singh said on Monday. Oil and Natural Gas Corporation (ONGC) has substantially cut gas flaring -- burning of methane gas that is produced when oil is extracted from below surface -- and would look to bring it down to nil as part of its environmental commitments. In a post on LinkedIn, Singh said India's role in the global energy landscape is progressively becoming pivotal, and is likely to account for 25 per cent of global energy demand growth over the next two decades. According to the International Energy Agency, India's share in global primary energy consumption is expected to rise to 9.8 per cent by 2050. "India's share in cumulative global green-house-gas (GHG) emissions has been only 4 per cent, and current emission is 7 per cent, despite its population share of 16-17 per

Natural gas consumption to rise 10-15% this financial year, driven by CGD

The operational linkages are driven by companies operating in the same segment, with OVL being essential to ONGC for providing ownership in international oil and gas-producing assets

In many cases, connections have been provided, but the gas flow has not been initiated, the Chairman of Petroleum and Natural Gas Regulatory Board said

They have ambitious targets, but are still to outline how they'll get there or their funding plans