The Oil and Natural Gas Corporation (ONGC) delivered a powerful performance in the second quarter of the fiscal year 2024-25, posting a 17.1% rise in net profit, amounting to ₹11,984 crore, up from ₹10,238 crore in the same quarter last year. The board, which convened on 11 November, approved a dividend of ₹6.00 per share, […]
In a significant financial update from the energy sector, Oil and Natural Gas Corporation (ONGC) has declared its consolidated net profit for the third quarter (Q3) of the fiscal year 2023-24, posting a figure of ₹10,748 Crore. This announcement came during ONGC’s 375th board meeting held on February 10, 2024, where it also declared a […]
In a significant development at India Energy Week 2024, TotalEnergies and the Oil and Natural Gas Corporation (ONGC) have inked a Cooperation Agreement that aims to revolutionize methane emissions detection and reduction in India. The collaboration will leverage TotalEnergies’ pioneering AUSEA (Airborne Ultralight Spectrometer for Environmental Applications) technology, underscoring both companies’ commitment to environmental sustainability […]
McDermott has been entrusted with a substantial contract by the Oil and Natural Gas Corporation (ONGC) for its esteemed KG-DWN-98/2 project off India’s east coast in a strategic expansion of their ongoing collaboration. The contract, valued between USD $50 million and USD $250 million, involves the crucial transportation and installation of a central processing platform […]
In a major business move set to reshape its renewable energy portfolio, the Oil and Natural Gas Corporation (ONGC) is poised to acquire a whopping 100% equity stake in PTC Energy Limited (PEL). This acquisition, which comes at an equity value of ₹925 Crore, marks a significant diversification for ONGC beyond its core E&P (Exploration […]
A fire erupted at Oil and Natural Gas Corporation Limited’s (ONGC) Rig SKP-150-Il, located at well NG#8 in the Geleky area of the Sivasagar district, on July 21, 2023. The incident, occurring around 2:50 pm, was swiftly managed by ONGC’s emergency response team, which prevented any casualties or injuries. ONGC’s quick deployment of its emergency […]
Oil and Natural Gas Corporation (ONGC) has agreed to acquire an additional stake of 23% in Mangalore SEZ (MSEZ) for INR 40.32 crores from its joint venture (JV) partner IL&FS. Mangalore SEZ is a special purpose vehicle founded in 2006. ONGC, currently holds a 26% stake and is partnered by IL&FS (50%), Karnataka Industrial Area […]
Oil and Natural Gas Corporation (ONGC) has reported a net profit of INR 11,665 crores for the third quarter of the financial year 2022-2023 (Q3 FY 23), which is a marginal increase of 0.2% compared to INR 11,637 crores in the same period of the previous financial year. In the preceding quarter, that is Q2 […]
Oil and Natural Gas Corporation (ONGC)’s fully-owned subsidiary ONGC Videsh has entered into a memorandum of understanding (MoU) with Argentine oil and gas company YPF S.A. to boost cooperation between the two firms in the energy sector. The MoU was signed by the parties during the sidelines of the maiden India Energy Week 2023 held […]
ONGC Tripura Power Company Limited (OTPC) and Assam Power Distribution Company Limited (APDCL) have entered into a memorandum of understanding (MoU) to develop a battery energy storage system (BESS) project with a capacity of up to 250MW/500MWh in Assam. The parties plan to develop the BESS project in Assam in a phased manner by establishing […]