Former ONGC chairman Shashi Shanker joins Adani Total Gas Ltd board
NEW DELHI: Shashi Shanker, former chairman and managing director of Oil and Natural Gas Corporation, has been appointed as an independent director on the board of Adani Total Gas Ltd (ATGL), the company said in a regulatory filing. Shanker, who superannuated as the head of India’s largest oil and gas producer on March 31, 2021, […]
ONGC inks MoU with SECI to develop renewable, ESG projects
NEW DELHI: To realize its green energy objectives, Oil and Natural Gas Corporation Ltd (ONGC) has signed a Memorandum of Understanding (MoU) with Solar Energy Corporation of India (SECI). The MoU was signed by ONGC CMD Subhash Kumar and SECI MD Suman Sharma on behalf of the two national energy companies today, 2 December 2021, […]
L&T emerges as lowest bidder in multiple projects
NEW DELHI: Larsen and Toubro (L&T) has emerged as the lowest bidder in multiple infrastructure projects, including ONGC, Nuclear Power Corporation and Chennai Metro Rail. On the ONGC NLRNC project, sources said L&T Hydrocarbon Engineering (LTHE), a wholly owned subsidiary of Larsen & Toubro Limited has emerged as the lowest bidder for ONGC’s New Living […]
ONGC’s Q2FY21 standalone YoY net profit down by over 54%
NEW DELHI: Diversified energy major ONGC on Friday reported a decline of 54.6 per cent in its standalone net profit for Q2FY21 on a year-on-year basis. According to the company, the standalone Q2FY21 net profit fell to Rs 2,878 crore against Rs 6,336 crore reported during the corresponding period of previous fiscal. Similarly, gross revenues […]
Decks clear for ONGC to merge refining subsidiary MRPL with HPCL
NEW DELHI: State-run oil and gas explorers ONGC plans to complete merger of its refining subsidiary Mangalore Refinery and Petrochemicals Ltd (MRPL)with recently acquired Hindustan Petroleum Corp Ltd (HPCL) in next financial year to align its upstream and downstream operations into two verticals being more focus into respective businesses. Sources said that the process of […]
ONGC cuts debt by 35 per cent to Rs 13,949 crore
NEW DELHI: State-owned Oil and Natural Gas Corporation (ONGC) has cut its debt by more than one-third but faces an uphill challenge to meeting planned expenditure during current fiscal due to oil and gas prices falling below sub-optimal levels, according to company officials and regulatory filings. ONGC’s outstanding debt of Rs 21,593 crore as on […]
ONGC signs MoU with Assam to invest Rs 13,000 crore for exploration
NEW DELHI: Oil and Natural Gas Corporation (ONGC) on Wednesday said it will invest over Rs 13,000 crore for exploration work across Assam in the next five years. The company said it has signed an agreement with the Assam government in this regard. “ONGC has signed an MoU with the Government of Assam for investing […]
ONGC preparing strategic vision document for 2040
NEW DELHI: State-owned Oil and Natural Gas Corp (ONGC) is mulling on a vision document for 2040 that will lay the strategic roadmap for the nation’s largest oil and gas producer for the next two decades. ONGC Chairman and Managing Director Shashi Shanker, in his speech after hoisting the national flag at the company headquarters […]
Sanjay Sethi appointed JNPT chairman
NEW DELHI: Senior bureaucrat Sanjay Sethi has been appointed as the chairman of the Navi Mumbai-based Jawaharlal Nehru Port Trust (JNPT), according to a government order. The 1992-batch IAS officer of the Maharashtra cadre has been appointed to the post for a period of five years, the order issued by the Personnel Ministry said. In […]
Government forms panel to look at selling of OIL, ONGC fields to private companies
NEW DELHI: The government of India has constituted a six-member committee to look at selling as many as 149 small and marginal oil and gas fields of state-owned ONGC and OIL to private and foreign companies to boost domestic output, sources said. The panel is headed by NITI Aayog Vice Chairman Rajiv Kumar and includes […]
Q2 results: ONGC profit rises 61%, beats estimates
NEW DELHI: Oil and Natural Gas Corp Ltd posted a 61% jump in second-quarter profit on Saturday, with higher crude oil prices helping it to beat forecasts. ONGC’s net profit stood at Rs 8,265 crore in the quarter ended 30 September, compared with Rs 5,130 crore a year earlier, the company said in a stock […]
Narendra Modi reviews oil, gas production profile of ONGC, OIL
NEW DELHI: The Prime Minister of India Narendra Modi on Friday reviewed the oil and gas production profile of state-owned ONGC and OIL over the near to medium term to assess how his target to cut oil imports by 10 per cent would be met. Sources with direct knowledge of the meeting said Oil and […]