ONGC Company News
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ONGC Is Said to Plan $4.8 Billion Indian Oil, GAIL Stake Sale
Wednesday, February 07, 2018 Oil & Natural Gas Corp. plans to sell its holding in two state-run energy companies within a year.
India's ONGC Raises $2.38B From Banks To Buy Refinery Stake
Tuesday, January 23, 2018 ONGC has secured a $2.83 billion loan from three banks.
Venezuela's PDVSA To Tap Oil Customers To Pay $449MM To ONGC
Wednesday, November 15, 2017 PDVSA will use existing crude oil customers or new Indian state buyers as intermediaries to settle $449 million owed to India's ONGC Videsh.
Sources: India ONGC Strikes 'Good' Offshore Oil, Gas Find
Wednesday, September 20, 2017 ONGC's latest discovery is estimated to hold in-place reserves of about 20 million tonnes.
India To Acquire Seismic Data Of 48,000 Line kms To Boost Oil, Gas Output
Tuesday, September 12, 2017 India aims to acquire seismic data of 48,243 line kilometers in 5 years as the world's third biggest oil consumer seeks to boost its output by offering more areas for exploration, the government says.
Biggest Indian Explorer Is Said to Plan First Ever Borrowings
Thursday, August 10, 2017 Oil and Natural Gas Corp. plans to tap the debt market for the first time, an opportunity that may be hard to pass up for bond bulls.
India Refiner HPCL Sees More Scope For Foreign Buys After ONGC Deal
Thursday, July 20, 2017 Hindustan Petroleum sees itself better placed to buy overseas downstream assets once it becomes part of the country's top explorer Oil and Natural Gas Corp, its chairman M. K. Surana said.
India Approves Creation of State Oil Giant in $4.6 Billion Deal
Wednesday, July 19, 2017 India approves the sale of a $4.6B stake in refiner Hindustan Petroleum Corp. to the country's biggest oil and gas explorer, according to a person with knowledge.
India Wants $300 Billion in Oil Spending to Meet Growing Demand
Wednesday, July 12, 2017 India needs investments to boost the production of natural gas and crude oil, and to refine, transport and distribute the fuel to households, Oil Minister Dharmendra Pradhan said.
ONGC Said to See Spending Plans Curtailed by Potential Merger
Thursday, March 02, 2017 India's plan to push its top oil producer to fund a takeover of a state refining company may threaten some near-term investments.
India's Top Oil Explorer To Invest $1.1B To Boost Output
Thursday, February 23, 2017 Oil and Natural Gas Corp., India's top oil and gas explorer, will invest 73.37 billion rupees ($1.10 billion) in five fields.
India Top Oil Explorer Takes Profit Hit From Royalty Payments
Tuesday, February 21, 2017 India's Oil and Natural Gas Corp will take a $239 million hit to its quarterly earnings to account for previous royalty payments to Indian states.
India ONGC's Overseas Arm Should Not Be Merged With Parent
Thursday, February 09, 2017 The overseas arm of India's ONGC should not be merged with its parent company, ONGC's chairman says.
What Will it Take for Operators to Invest in India?
Tuesday, November 01, 2016 Turlough Cooling, Head of Subsurface at io oil & gas consulting, takes a look at the opportunities and barriers of exploration in India.
Undaunted by Gas Price Cut, ONGC Firm on $4.5 Billion CAPEX
Thursday, October 06, 2016 India's largest oil and gas producer will continue with its record investment plan despite a cut in domestic gas prices, which were reduced for the fourth consecutive time last week.
India ONGC To Invest $5.1B In 4 Years In East Coast Oil Gas Asset
Friday, September 30, 2016 India's Oil and Natural Gas Corporation will invest 340.12 billion rupees ($5.11 billion) in four years to develop cluster 2 of east coast deepwater block, the company said in a tweet on Friday.
ONGC Videsh Inks Deal with Rosneft to Up Stake in Russia's Vankorneft
Thursday, September 15, 2016 India's ONGC Videsh inks agreement with Rosneft to acquire an additional 11 percent stake in Vankorneft, the operator of the Vankor field and North Vankor license in Russia.
India's TERI, Australia's UNSW to Boost Gas Yields at ONGC-Operated Wells
Tuesday, August 23, 2016 India's TERI and Australia's University of New South Wales (UNSW) form a partnership to boost gas yields from coal seam gas well operated by ONGC in the country.
GE Oil & Gas Secures Wellhead Services Contract with ONGC
Tuesday, August 23, 2016 GE Oil & Gas secures a multi-million dollar frame agreement with Oil and Natural Gas Corporation Limited (ONGC), India's largest exploration and production company.
India's ONGC Launches $15M Fund to Nurture New Ideas for O&G Industry
Tuesday, August 16, 2016 India's ONGC launches a $15 million 'ONGC Start-up Fund' to encourage new ideas for the oil and gas industry.
Court Orders Payment Freeze on Swiber's Bank Guarantee for Indian Projects
Wednesday, August 10, 2016 An Indian court grants an interim order to freeze payment on bank guarantees posted by Singapore's financially troubled Swiber Holdings for its projects offshore India.
India Seeking Merger Model For Possible State Oil Champion
Tuesday, August 02, 2016 India is open to discussing a merger of some of its state-run oil producers and refiners to create a larger, stronger national firm, according to the country's oil minister.
Expro Wins $17M Well Testing Contract from India's ONGC
Tuesday, July 26, 2016 Expro wins a $17 million well testing contract from Oil and Natural Gas Corp. Ltd. (ONGC) for work on its upstream assets in India.
India-Led Joint Expedition Finds Large Gas Hydrate Deposit in Bay of Bengal
Tuesday, July 26, 2016 India, with support from U.S. Geological Survey and Japanese government agencies and companies, discovers large amounts of natural gas hydrate in the Bay of Bengal.
ONGC Boosts Operations Off India Via New, Expanded Deals Worth $60M
Monday, July 18, 2016 Oil and Natural Gas Corp. (ONGC) expands scope of operational activities offshore India through new and expanded contracts, worth around $60 million, with two services providers.
Reliance's Upstream Revenue in 1Q FY17 Declines 34.8% YOY to $200M
Monday, July 18, 2016 Reliance's upstream oil and gas business posts a revenue of $200 million in the first quarter of financial year 2017, down 34.8 percent from $240 million from a year ago.
India's ONGC May Relax Eligibility Criteria for Hiring Rigs
Wednesday, July 13, 2016 India's Oil and Natural Gas Corp. (ONGC) may relax the eligibility criteria for hiring drilling rigs, according to a local media.
Reliance Gets Approval to Drill 8 Exploration Wells Off India's Tamil Nadu
Tuesday, July 05, 2016 Reliance Industries receives approval to drill 8 exploration wells in Block DY-III-D5 offshore Tamil Nadu, India.
Sources: Petrobras To Sell 'Junk' Fields As Big Finds Delayed
Tuesday, July 05, 2016 Petrobras' plans to sell 'junk' oil fields off the coast of Brazil's Sergipe and Ceara states will do little to boost the economic prospects of the regions, hampered by company cutbacks and delays at larger discoveries nearby, sources say.
Petrobras' Indian Partners Fight Delay In Troubled Brazil Oil Project
Monday, July 04, 2016 Petrobras warns its Indian partners in a huge offshore project to not expect oil from the site until 2022, according to sources.
Aban Offshore Bags $87M Contract to Provide Aban Abraham Drillship to ONGC
Tuesday, June 28, 2016 Aban Offshore bags a deal from India's Oil and Natural Gas Corp. Ltd. to provide the Aban Abraham drillship under a two year $87 million contract.
Modi's $27B Oil Quest Gives Services Firms A Lifeline
Tuesday, June 28, 2016 India is offering global oilfield service providers starved of new contracts a $27 billion lifeline as the government's ambition to cut fuel imports drives fresh investment.
Putin Said To Weigh $11B Rosneft Sale To China And India
Monday, June 20, 2016 Vladimir Putin is considering selling part of Russia's corporate crown jewels to China and India as the president struggles to meet spending commitments before his possible re-election bid in less than two years.
ONGC Sets New Pre-Monsoon Rig Move Offshore India
Friday, June 17, 2016 Oil and Natural Gas Corp., with support from Aqualis, sets a new pre-monsoon rig move record offshore India, moving 33 mobile offshore drilling units from mid-March to May.
Rosneft Mimics Saudi Strategy To Get Foothold In Indian Market
Wednesday, June 15, 2016 Rosneft OJSC is mimicking the strategy of its biggest global competitor to expand in India as the world's top oil exporters vie for business in the fastest-growing crude-consuming nation.
Kreuz Subsea Completes Project at D1 Field Off India's West Coast
Tuesday, June 14, 2016 Singapore-based Kreuz Subsea completes a project at D1 field off the west coast of India.
Oil's Emerging Giant Beckons US Wildcatters Who Riled OPEC
Thursday, June 02, 2016 The casualties of the U.S. shale bust are being offered a new frontier thousands of miles away in India to remake their fortunes.
India Launches Auction for 67 Small Oil, Gas Fields Under a New Bid Scheme
Thursday, May 26, 2016 India launches a new bid round to invite investors to participate in the exploration and production at 67 small oil and gas fields in the country.
India's ONGC Reports 12% Rise In Q4 Profit, Beating Estimates
Thursday, May 26, 2016 Oil and Natural Gas Corp, India's biggest oil explorer, reports a surprise 12 percent rise in 4Q net profit, helped by a one-off gain.
JDR Bags Subsea Deal from GE Oil & Gas for India's Vashishta & S1 Project
Wednesday, May 25, 2016 JDR bags a subsea contract from GE Oil & Gas for the Oil & Natural Gas Corp.-operated Vashishta & S1 project offshore India's east coast.
ONGC Plans to Drill 17 Exploration Wells in India's Shale Oil, Gas Blocks
Tuesday, April 26, 2016 ONGC intends to drill up to 17 shale oil and gas exploration wells in India for around $105 million.
Transocean Bags Deal for Actinia to Drill Offshore India for ONGC
Friday, April 22, 2016 Transocean bags a three year contract from ONGC for the Actinia semisub to work offshore India.
ONGC to Use PMT JV's Abandoned Facilities for Daman Project Offshore India
Friday, April 15, 2016 ONGC will use some facilities abandoned by the Panna-Mutka-Tapti joint venture for the Daman Development Project offshore India's west coast.
Fugro Lands ROV Services Contract from ONGC
Thursday, April 14, 2016 Fugro lands a remotely operated vehicle services contract from India's Oil and Natural Gas Corp. to work off the country's east coast.
Reliance, BG to Hand over Some Indian Drilling Assets to ONGC
Wednesday, April 13, 2016 A joint venture led by India's Reliance Industries and BG Group has agreed to hand drilling infrastructure from an abandoned gas field to ONGC Ltd.
India Echoing Pre-Boom China As New Center Of Oil Demand Growth
Friday, April 08, 2016 In the energy world, India is becoming the new China.
ONGC's Cluster 12 Project May Provide Some Relief for the Services Sector
Thursday, March 31, 2016 The decision by ONGC to develop the $5B Cluster 12 project off India may provide some relief for the services sector.
ONGC Board Approves $5B Investment In East Coast Oil And Gas Asset
Monday, March 28, 2016 Oil and Natural Gas Corporation approves an investment of about $5B over the next few years in its east coast oil and gas asset, in a bid to boost production and benefit from a change in government policy.
India's ONGC Eyes Tie-up With Foreign Service Providers To Boost Output
Thursday, March 17, 2016 Oil and Natural Gas Corp. plans to enter into partnerships with overseas oilfield service providers to boost output from ageing oil and gas fields, its chairman says.
Rosneft Spuds PLDD-1X Well in Vietnam's Nam Con Son Basin with Hakuryu-5
Wednesday, March 09, 2016 Rosneft spuds the PLDD-1X exploration well in Block 06.1 in the Nam Con Son basin, offshore Vietnam with the HAKURYU-5 semisub.