Latest News, Updates & Breaking Headlines
ONGC will take a 50 per cent stake in two joint ventures with Japan’s Mitsui OSK Lines (MOL) to enter specialised ethane shipping.The joint ventures will each own a very large ethane carrier (VLEC), with ONGC and MOL holding equal equity. The vessels, with a combined cost of about $370 million, will transport ethane from…
NEW DELHI: A gas pipeline leak at a well in Andhra Pradesh’s Dr B R Ambedkar Konaseema district triggered a fire on Monday at a site operated by Oil and Natural Gas Corporation’s (ONGC) production contractor, Deep Industries Ltd.No deaths or injuries were reported in the incident, according to preliminary information shared by an official…
Oil and energy firm shares began the week in green amid ongoing geopolitical concerns in surrounding South American oil producing nation, Venezuela. Reliance Industries Limited (RIL) soared 1% to its 52-week high of Rs 1,611.20 while other oil stocks also added up to 2% on Monday. The rise came even as global crude prices remained…
NEW DELHI: ONGC is eyeing about $1 billion of profit from a new trading company it plans to set up for buying and selling of crude oil and refined fuels of its group companies, a top official said Monday. While most of the crude oil and natural gas it pumps out of the ground and…
State-run Oil and Natural Gas Corporation (ONGC), valued at around Rs 3.10 lakh crore, now lags behind food delivery platform Zomato in market capitalisation despite owning stakes and assets worth more than a third of its own valuation — a gap analysts say reflects deep undervaluation of India’s largest oil and gas producer.As of Friday’s…
ONGC takes over control of Vedanta-operated oil block The Government has directed state-run Oil and Natural Gas Corporation (ONGC) to take interim operational control of an oil and gas block from Vedanta, after rejecting the company’s request to renew its contract.Vedanta, which produces about one-fifth of India’s crude oil, has challenged the decision in the…
