The Supreme Court ruled that the central government and ONGC conducted due deliberation before taking a decision on the $8.5 billion Cairn-Vedanta deal. The court ruled this while rejecting a public interest litigation (PIL) challenging the deal on the ground that there was a loss to state-owned ONGC on account of the sale
Tag: ONGC
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ONGC seeks buyers for natural gas
Oil and Natural Gas Corporation (ONGC) intends to sell 15,000 standard cubic metre per day (scmd) of gas from the marginal gas fields in Gamij near Kheda. The public sector major will sell the 15,000 gas from the field for a period of five years. For this purpose, the state-run energy explorer invited fresh bids from interested gas consumers after facin
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ONGC board approves Rs 11 bn turnaround project
P Lakshmi, Minister of State for Petroleum & Natural Gas informed the Lok Sabha that ONGC Board has recently approved a turnaround or reconstruction project in Bassein fields in its meeting held on March 20, 2013, at an estimated cost of $207 million (Equivalent to Rs 1,138.50) with scheduled completion by April 2015. Further, she said, with implementation of various rede
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Shiv-Vani says its contract is not banned by ONGC
In a press release, Shiv-Vani Oil and Gas Exploration Services clarified that ONGC cancelled the process of banning its contract as the latter is satisfied with the former's performance at the site the Kakinada processing facility. It may be noted that there were rumours that ONGC banned the contract given to Shiv-Vani Oil and Gas to install and operate one compressor along with one s
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ONGC produces 5.8% less oil in FY13
According to a performance report of state-owned Oil and Natural Gas Corp (ONGC), the firm produced 5.8 per cent less crude oil at 20.485 million tonne (mn t) in 2012-13 compared to 21.76 mn t achieved in the previous year. The report, which was submitted to the union oil ministry recently, also shows that the output was also shor
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Cairn India may upgrade reserve estimate
Some analysts expect Cairn India to upgrade crude oil reserves in its prolific Rajasthan field in the next two-three quarters led by higher exploration and drilling activities. It may be noted that the government allowed the company to conduct additional exploration in place. The com
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ONGC works on integration of overseas arm
The top management of state-run explorer ONGC is preparing a plan to integrate its domestic and foreign oil and gas exploration businesses in order to reap synergy. It may be noted that the domestic exploration business is taken care of by ONGC, while ONGC Videsh (OVL) handles foreign
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Analysts cast doubt on output forecast of ONGC
Some analysts cast doubt on the guidance given by Oil and Natural Gas Corporation (ONGC) for crude oil production in 2013-14 because the company derives 72 per cent of its output from fields which are 37-52 years old
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Cairn India discovers oil in Rajasthan block
Cairn India discovered crude oil at its Rajasthan oil and gas field. This is the 26th oil discovery of the company in the block. The company discovered oil and tested for the first time in Dharvi Dungar sands in Raageshwari-Tukaram area, where previous discoveries were in the shallower Thumbli sands. According to technical evaluations, Dharvi Dungar formation may have about 10 metre of gross oil colu
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ONGC to set up its own power plants
ONGC plans to set up its own power plants, not just gas-based but also facilities based on nuclear, wind and other conventional energy sources, the government-owned exploration company Chairman and Managing Director Sudhir Vasudeva said on March 28. He was speaking after inaugurating the monetisation and production operations from the first onshore marginal gas fields in KG basin at Ponnamanda village in East Godavari district of Andhra Pradesh.