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.
Tag: ONGC
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CPSUs the cash machines
As the government prepares to divest PSUs and raise Rs 54,000 crore, it will simultaneously urge PSUs to invest in infrastructure projects. While this is a smart move to reinvigorate the stranded sector, the irony of public sector investment in private side of equity is not lost. While they stare at a disappointing year for PSUs on the stock exchanges, what has galvanised many of these mammoth organisations that have transformed these custodians of public money into vibrant, corporate and profit
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LNG terminal in Mangalore
Union Minister for Petroleum and Natural Gas M Veerappa Moily has stated that work on the new LNG import terminal at Mangalore will begin in next November. A feasibility study on the terminal is being carried out by a consortium of ONGC, BPCL, Mitsui and New Mangalore Port Trust (NMPT). The planned LNG terminal is with a capacity of 2-3 million tonne per annum.
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Work on LNG terminal in Mangalore to start in Nov
Union Minister for Petroleum and Natural Gas Marpadi Veerappa Moily has stated that work on the new LNG (liquefied natural gas) import terminal at Mangalore will begin in next November. A feasibility study on the terminal is being carried out by a consortium of ONGC, BPCL, Mitsui and New Mangalore Port Trust (NMPT).
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ONGC prepares DoC for deepwater block
State-run exploration firm Oil and Natural Gas Corporation (ONGC) is preparing the Declaration of Commerciality (DoC) for its deepwater discoveries in the Krishna Godavari Basin. The company would soon submit the DoC to the Directorate General of Hydrocarbons for approval. A DoC is necessary to develop any discovery. The com
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Ministry norms hinder ONGC’s exploration plan
According to media reports, the restriction on exploration in 'no-go' areas imposed by the ministry of defence (MoD) may hinder Oil and Natural Gas Corporation's (ONGC) business plan. The public sector firm plans to rope in technical parters for its deep water and ultra deep water blocks, which fall unde
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Power plants may get gas from new fields of ONGC, GSPC
By 2016, natural gas-based power plants may get about 6-10 million standard cubic feet per day (mscmd) of gas from the new fields of ONGC (Oil and Natural Gas Corp) and GSPC (Gujarat State Petroleum Corp). Supply of gas from these new fields may compensate partially the shortage of gas owing to reduction in output from Reliance Industries (RIL)Â’s KG-D6
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RIL, ONGC, Cairn, Oil India beneft from rupee fall
While the rupee fall against dollar is a bad news to oil and gas consumers in the country, the same is a boost to the earnings of ONGC, Cairn India, Reliance Industries and Oil India. The dollar-linked price of oil and gas has risen about 17 per cent in four months. This is a bad news for oil and gas consumers in the country as they have to pay more for the essential petro products. India imports 80 per cent of crude oil, it processes and pays in dollars.
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CAG finds fault with ONGC’s hiring of rig
A report by the Comptroller and Auditor General of India (CAG) found fault with ONGC for hiring a rig from Reliance Industries (RIL) in 2009 for six months at a cost of Rs 146.7 crore without bidding. While ONGC hired it in 2009 on grounds that it needed the equipment to drill three wells urgently, the CAG report suggests the rig was not necessary going by the
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MRPL to procure crude oil from ONGC
Mangalore Refinery and Petrochemicals (MRPL) would procure Rs 38,500 crore worth of crude oil from Oil and Natural Gas Corporation (ONGC) for a five-year period, according to an agreement signed between the firms recently. MRPL is a subsidiary of ONGC. ONGC would supply Mumbai High crude from JNPT and offshore platform to MRPL. ONGC supplies about 11-12 per cent