State-owned ONGC has asked the government to waive payment of oil cess and royalty as plummeting international oil prices have meant that the rate it now gets does not even cover the operating cost, sources said
Coronavirus Outbreak: Oil PSUs to re-start over Rs 42,000 cr of projects as lockdown restrictions ease
State-owned oil firms will resume as many as 511 projects involving over Rs 42,000 crore of investment with immediate effect as the country partially exited from an unprecedented nationwide lockdown on Monday
State-owned Oil and Natural Gas Corporation (ONGC) on Thursday walked away with all the seven oil and gas blocks on offer in the latest bid round that saw just eight bids coming in
After the Motera field was discovered in Ahmedabad, ONGC was wary of encroachment around the oil wells in a city that was developing into a megapolis
Govt asks ONGC, OIL to sell out 66 fields to pvt firms as it brings in new policy to boost domestic production
ONGC and OIL, who are battling stagnation in output from largely ageing fields, have a total of 184 fields.
Oil India to buy back 4.45% shares for Rs 1,085 crore; govt eyes minimum Rs 5,000 crore via PSUs’ stock repurchase offers
The government is targeting a minimum Rs 5,000 crore through share buyback offers of state-owned firms like Coal India and BHEL.
Fuel crisis: Govt might ask ONGC to absorb crude price hikes but state-owned explorer's capex to prevent it from doing so
To resolve a fuel crisis, the government may ask ONGC to sell crude at discounted rates to state-owned refiners, or may levy a windfall tax on the explorer.
The government has approved inviting bids to develop 60 more discovered oil and gas fields under the second round of the DSF auction this year, Dharmendra Pradhan announced.
At present, the company has one rig in the state and another rig is expected shortly, sources said, adding that drilling of each well would cost around Rs. 40 crore on an average.