Steel giant Lakshmi N. Mittal has exited joint venture with ONGC Videsh Ltd, formed for exploring oil block in Kazakhstan.
 Mittal Investment Sarl has decided to discontinue involvement through the joint venture vehicle ONGC Mittal Energy Ltd (OMEL) in the Satpayev exploration block, Oil and ...

Inter-ministerial consultations regarding the hiking of ONGC and Oil India gas have been kicked off petroleum ministry. Petroleum Ministry has asked other ministries to provide their views regarding the long-standing demand of ONGC and Oil India for raising gas price from the current $1.9 per ...

The overseas investment arm of the state-run Oil and Natural Gas Corporation (ONGC) has secured the government’s nod for an additional investment of USD $149.46 million in a gas block in Vietnam.
 
The Cabinet Committee on Economic Affairs gave ONGC the permission during a meeting in ...

ONGC Videsh Ltd has mentioned that it will enhance the oil production from the Brazilian fields. OVL, which is the overseas branch of nationalized oil producer, Oil and Natural Gas Corp, is currently producing just 5,500 barrels per day from a single well. According to the proposal, ONGC has plans ...

The production of crude oil from the Rajasthan fields of Cairn India is scheduled to commence this month. According to the company, a barrel of crude oil will cost $5.
 
According to Cairn India Chief Executive Officer, Rahul Dhi, about 30,000 barrels of crude oil will be produced in the ...

According to the construction and engineering major, Larsen and Toubro (L&T), two offshore contracts from Oil and Natural Gas Corp (ONGC) worth Rs.5,300 crore has been bagged by the company.
 
The tenure for the completion of the project is 33 months.
 
The contract is for the ...

According to ONGC Chairman, R.S. Sharma, it will take at least 100 days to confirm whether there is hydrocarbon presence off Kochi coast.
 
"My initial observation and assessment is quite satisfactory. We are hopeful of the presence of hydrocarbons, but now it is too early confirm ...

The overseas arm of Oil and Natural Gas Corp (ONGC), ONGC Videsh Ltd, has submitted a proposal for developing a gas field in Iran.
 
Petroleum and Natural Gas Minister, Murli Deora, told parliament that the oil giant had submitted the master development plan for the Farzad-B gas field to the ...

Oil and Natural Gas Corp (ONGC) has reported a  dip in its net profit for the fourth consecutive quarter, declining 27% to Rs.4,847.92 crore for the quarter ending June 30 owing to lower oil prices.
 
ONGC had logged a revenue of Rs.6,636.33 crore (in the corresponding quarter the ...

The state-run Oil and Natural Gas Corp. Ltd will invest $730 million in a Cairn India block in Rajasthan, despite expecting negative returns, Petroleum Minister Murli Deora said on Monday.
 
In a written reply to the Rajya Sabha, Deora said that ONGC's board has not approved investment plans ...

The Oil and Natural Gas Corporation (ONGC) has signed a Memorandum of Understanding (MoU) with Australia's Arrow Energy for cooperation in Coalbed Methane Sector. The MoU was signed by D K Pande, Director (Exploration), ONGC and Nicholas Davies, CEO and MD, Arrow Energy Ltd. Today (14th ...

The leading public sector company of India, Oil and Natural Gas Corp (ONGC) announced to invest over $600 million for the development of assets of Imperial Energy, in addition to its acquisition price of $2.1 billion. Imperial Energy was acquired by ONGC when more than 97 percent of Imperial's ...

ONGC Videsh is close to buying a stake of up to 40 percent in the Satpayev block in Kazakhstan, an oil ministry official told reporters on Monday (12th January).
 
While talking to reporters on the sidelines of the Petrotech conference, the official also revealed that Oil secretary R.S. ...

India’s premier hydrocarbons exploration company, Oil and Natural Gas Corp (ONGC), has undertaken a Rs.43.76-billion project in Tripura to boost gas output, the company said here  on Tuesday (6th January).
 
The investment proposal has been approved to produce and supply six ...

ONGC Videsh Ltd. (OVL), the overseas investment arm of India's largest oil exploration company Oil & Natural Gas Corp (ONGC) said Tuesday (30th December) that it would proceed with its £1.4 billion bid for acquisition of the UK-listed Imperial Energy.
 
Earlier, OVL was far short ...

The Oil and Natural Gas Corporation (ONGC) of India has announced to have made another hydrocarbon discovery in Krishna-Godavari block on November 24, 2008. According to company source, the drilling team has found three hydrocarbon bearing sands between 3,757 metres to 4,185 metres at the offshore ...

India-based ONGC Videsh Ltd has discovered oil reserves in an Egyptian block. The company informed that the newly discovered reserves are capable of producing 800 barrel of oil in a single day. The company had discovered oil reserves during its first exploration. The second discovery is made in ...

The Oil and Natural Corp (ONGC) of India has tied up with Uranium Corp of India to jointly initiate the exploration and development projects. The chairman of ONGC, R.S. Sharma and that of UCIL, Ramendra Gupta signed the new agreement on November 11, 2008. The meeting between the organizations ...

The Oil & Natural Gas Corporation (ONGC) of India has planned to implement a uranium project in Gujarat. The company had signed a memorandum of understanding (MoU) in uranium mining with Uranium Corporation of India Ltd (UCIL) earlier this year. As per the officials of ONGC, the company has ...

ONGC Videsh Limited (OVL) is set to bag a deal to buy Imperial Energy for an estimated cost of $1.4 billion (Rs 11,200 crore). Apparently, the acquisition will be the third largest foreign acquisition by an Indian company. Earlier, ONGC had bid for Imperial Energy on July 12, through its ...

Shiv-Vani Oil & Gas Exploration Services, on Thursday, August 7, announced that it has received an order worth Rs 1,610 Crore from the Oil and Natural Gas Corporation (ONGC) for deployment of eight onshore deep drilling rigs. Shiv-Vani is a top service provider catering to the upstream segment ...

ONGC has won a legal claim worth $21.5 million or Rs 100 crore against Perth-based Clough Engineering, in the Federal Court of Australia. The fact in the issue of the case according to Clough Engineering was that the Indian PSU was not entitled to encash the bank guarantee and that it would not be ...

According to RS Sharma, Chairman of ONGC, under new norms offshore oil and gas operations will collapse. Interestingly, the shipping ministry of India has issued some guidelines to offshore oil and gas operators which are regulatory in means and methodology. Earlier in the month of May this year, ...

The GMR Group, a major name in the construction business, has said that it will spend Rs 310 billion in order to get hold of the refinery and petrochemical plant being planned by the state-owned Oil and Natural Gas Corporation (ONGC) in Andhra Pradesh’s Kakinada region. A GMR officer infact ...

Indian oil firms ONGC Videsh (OVL), Indian Oil Corporation (IOC) and Oil India (OIL) have proposed to invest $3 billion to develop a gas field in Iran’s Farsi block. One of the company source only revealed that the block holds estimated recoverable gas reserves of 12.8 trillion cubic feet. ...