India's heavy and growing dependence on imported energy is putting financial strain on the economy. More than half of India's $191 billion trade deficit in the financial year 2012-13 was due to oil imports,
Tag: ONGC
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CBM producers to bring down price
The Ministry of Petroleum and Natural Gas has decided to go for a uniform gas price for all the gas producers in India once the new pricing under Rangarajan formulae comes into effect post elections.
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India in to develop Kazakh oil block
India is in talks with Kazakhstan for developing Abai oil block in the Caspian Sea. According to reports, Magzum Mirzagaliev, Vice-Minister, Oil and Gas, Kazakhstan, has offered the Abai block to ONGC Videsh (OVL)
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Govt approves 10 pc stake sale in IOC
The government has approved a 10 per cent stake sale in Indian Oil Corporation to ONGC and OIL, which will fetch about Rs 5,300 crore to the exchequer. The share sale price has been fixed at Rs 220, while the scrip was trading at Rs 248.45. The sale of 10 per cent stake or 24.27 crore shares will be through an off market transaction, with ONGC and OIL buying 5 per cent stake each.
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New DGH
BN Talukdar, Director for Exploration in Oil India (OIL), has been appointed the new Director General of Hydrocarbons (DGH). A petroleum engineering graduate from the prestigious Indian School of Mines, Dhanbad, Talukdar has been head of OIL´s exploration, development, reservoir management and drilling activities since December 2007. Prior to joining the Board, Talukdar held the post of Group General Manager (Geosciences) in the fields in the North-East India.?
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Oil and gas: Heading for a plateau
Hindsight: Closing the year 2013-14 we expect a good growth in revenue compared to past years, since output has perhaps peaked in this year, because of executing many domestic and international projects.
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Oil and gas: Heading for a plateau
Hindsight: Closing the year 2013-14 we expect a good growth in revenue compared to past years, since output has perhaps peaked in this year, because of executing many domestic and international projects.
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Re-igniting the spark
With government taking initiative to de-bottleneck the energy sector growth and boost country´s economy, oil and gas majors are busy addressing risk factors and multitasking to integrate their business model in order to ensure future growth, says Pradeep Pandey.
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Our growth engine will be exploration overseas
ONGC´s CMD Sudhir Vasudeva is a man in demand even ministers would like him to stay awhile in his chair. In a freewheeling interview with Shashidhar Nanjundaiah, Vasudeva looks back in satisfaction at the accomplishments of his top-ranked PSU, and tells us what to expect.
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ONGC pays over Rs 2,900 cr for 2013-14
ONGC has paid 100 per cent interim dividend for the Year 2013-14. The Sudhir Vasudeva, CMD, ONGC handed over a cheque of Rs 2961,27,32,610 (Rupees two thousand nine hundred sixty one crore twenty seven lakh thirty two thousand six hundred and ten only) to the Petroleum Minister Marepadi Veerappa Moily in Delhi recently towards the Interim Dividend for 2013-14.