Oil and Natural Gas Corporation http://www.globalpost.com/taxonomy/term/32109/all en India's oil explorer ONGC quarterly net profit falls 17.5% http://www.globalpost.com/dispatch/news/afp/130211/indias-oil-explorer-ongc-quarterly-net-profit-falls-175 <div class="field field-type-text field-field-byline1"> <div class="field-items"> <div class="field-item odd"> Agence France-Presse </div> </div> </div> <!--paging_filter--><p>State-run Oil and Natural Gas Corp (ONGC), India's biggest energy explorer, reported on Monday third-quarter net profit fell 17.5 percent as earnings suffered from subsidies given to fuel retailers.</p> <p>Net profit for the October to December quarter slid to 55.63 billion rupees ($1.03 million) from 67.41 billion rupees in the same period a year earlier, the company said in a statement.</p> <p>Under government rules, ONGC must sell discounted fuel to state-run refineries which in turn provide diesel, petrol and other fuel products at cheaper rates to the public.</p> <p><a href="http://www.globalpost.com/dispatch/news/afp/130211/indias-oil-explorer-ongc-quarterly-net-profit-falls-175" target="_blank">read more</a></p> BSE Sensex Economy of India Entertainment Oil and Natural Gas Corporation AFP Mon, 11 Feb 2013 16:31:01 +0000 Agence France-Presse 5752832 at http://www.globalpost.com India bids for Mozambique oil and gas field stake: report http://www.globalpost.com/dispatch/news/afp/130315/india-bids-mozambique-oil-and-gas-field-stake-report <div class="field field-type-text field-field-byline1"> <div class="field-items"> <div class="field-item odd"> Agence France-Presse </div> </div> </div> <!--paging_filter--><p>State-run energy giant ONGC and Oil India have made a joint bid for a 20 percent stake in a Mozambique oil and gas field operated by US-based Anadarko Petroleum Corp, a report said on Friday.</p> <p>ONGC's wholly owned unit, ONGC Videsh Ltd., and Oil India have bid for shares being sold by Anadarko and India's Videocon Industries, Dow Jones Newswires said.</p> <p>The report, quoting an unidentified person with direct knowledge of the bid, comes as the energy-hungry South Asian nation expresses interest in purchasing hydrocarbon assets abroad.</p> <p><a href="http://www.globalpost.com/dispatch/news/afp/130315/india-bids-mozambique-oil-and-gas-field-stake-report" target="_blank">read more</a></p> BSE Sensex Economy of India Oil and Natural Gas Corporation AFP Fri, 15 Mar 2013 15:45:25 +0000 Agence France-Presse 5784597 at http://www.globalpost.com India approves doubling of gas prices http://www.globalpost.com/dispatch/news/afp/130628/india-approves-doubling-gas-prices <div class="field field-type-text field-field-byline1"> <div class="field-items"> <div class="field-item odd"> Agence France-Presse </div> </div> </div> <!--paging_filter--><p>India's government has approved a doubling of natural gas prices, the first hike in three years, in a politically sensitive decision set to take effect around election time next year.</p> <p>The Cabinet Committee on Economic Affairs announced late Thursday that the price of domestically produced natural gas should rise to $8 per unit from the current $4.2 in April next year.</p> <p>"It will be applicable from April 1 2014 and will be valid for 5 years," Oil Minister M. Veerappa Moily told the Press Trust of India news agency.</p> <div class="field field-type-text field-field-wire-copyright"> <div class="field-items"> <div class="field-item odd"> <p><a href="http://www.afp.com/" class="button wire afp"></a></p> <p><a href="http://www.globalpost.com/terms-use#afp"><span>Copyright AFP, 2013.</span></a></p> </div> </div> </div> <p><a href="http://www.globalpost.com/dispatch/news/afp/130628/india-approves-doubling-gas-prices" target="_blank">read more</a></p> BSE Sensex Economy of India Oil and Natural Gas Corporation AFP Fri, 28 Jun 2013 07:31:56 +0000 Agence France-Presse 5870111 at http://www.globalpost.com India stumbles over shale gas contracts http://www.globalpost.com/dispatch/news/thomson-reuters/130814/india-stumbles-over-shale-gas-contracts <div class="field field-type-text field-field-byline1"> <div class="field-items"> <div class="field-item odd"> Thomson Reuters </div> </div> </div> <!--paging_filter--><p>By Nidhi Verma</p> <p>NEW DELHI (Reuters) - India will take at least three months more to draw up a policy framework for shale gas exploration that would allow both private domestic and foreign firms to begin drilling for the fuel, two oil ministry sources said on Wednesday.</p> <div class="field field-type-text field-field-wire-copyright"> <div class="field-items"> <div class="field-item odd"> <p><a href="http://thomsonreuters.com" class="button wire reuters"></a></p> <p><span>Copyright Thomson Reuters, 2013.</span></p> </div> </div> </div> <p><a href="http://www.globalpost.com/dispatch/news/thomson-reuters/130814/india-stumbles-over-shale-gas-contracts" target="_blank">read more</a></p> Natural gas Oil and Natural Gas Corporation Shale gas Thomson Reuters Wed, 14 Aug 2013 07:15:50 +0000 Thomson Reuters 5909550 at http://www.globalpost.com India's ONGC to buy $2.64 billion stake in Anadarko Mozambique gas block http://www.globalpost.com/dispatch/news/thomson-reuters/130826/indias-ongc-buy-264-billion-stake-anadarko-mozambique-gas-block <div class="field field-type-text field-field-byline1"> <div class="field-items"> <div class="field-item odd"> Thomson Reuters </div> </div> </div> <!--paging_filter--><p>MUMBAI/NEW YORK (Reuters) - India's Oil and Natural Gas Corp &lt;ONGC.NS&gt; has agreed to buy 10 percent in a gas field offshore Mozambique from Anadarko Petroleum Corp for $2.64 billion, as the explorer looks to offset diminishing supplies from domestic gas fields by buying overseas assets.</p> <p>The purchase of U.S. oil company Anadarko's &lt;APC.N&gt; stake is the latest in a handful of overseas assets that ONGC Videsh, the overseas business unit of state-controlled ONGC, has bought in the last couple of years to boost India's energy needs.</p> <div class="field field-type-text field-field-wire-copyright"> <div class="field-items"> <div class="field-item odd"> <p><a href="http://thomsonreuters.com" class="button wire reuters"></a></p> <p><span>Copyright Thomson Reuters, 2013.</span></p> </div> </div> </div> <p><a href="http://www.globalpost.com/dispatch/news/thomson-reuters/130826/indias-ongc-buy-264-billion-stake-anadarko-mozambique-gas-block" target="_blank">read more</a></p> BSE Sensex Economy of India Oil and Natural Gas Corporation Technology Thomson Reuters Mon, 26 Aug 2013 13:17:06 +0000 Thomson Reuters 5917980 at http://www.globalpost.com ONGC buys stake in African gas field http://www.globalpost.com/dispatch/news/afp/130826/ongc-buys-stake-african-gas-field <div class="field field-type-text field-field-byline1"> <div class="field-items"> <div class="field-item odd"> Agence France-Presse </div> </div> </div> <!--paging_filter--><p>India's energy giant ONGC is buying a 10 percent stake in an offshore Mozambique natural gas field for $2.64 billion from the field's US operator Anadarko Petroleum, the two companies said.</p> <p>The exploration block, known as Offshore Area 1, is in the deepwater Rovuma Basin and estimated to contain 35-65 trillion cubic feet of recoverable gas.</p> <p>The project is being developed to support Mozambique's large liquefied natural gas program, which aims to begin shipping LNG cargoes in 2018.</p> <div class="field field-type-text field-field-wire-copyright"> <div class="field-items"> <div class="field-item odd"> <p><a href="http://www.afp.com/" class="button wire afp"></a></p> <p><a href="http://www.globalpost.com/terms-use#afp"><span>Copyright AFP, 2013.</span></a></p> </div> </div> </div> <p><a href="http://www.globalpost.com/dispatch/news/afp/130826/ongc-buys-stake-african-gas-field" target="_blank">read more</a></p> Anadarko Petroleum Corporation Deepwater Horizon oil spill Oil and Natural Gas Corporation Technology AFP Mon, 26 Aug 2013 16:16:07 +0000 Agence France-Presse 5918075 at http://www.globalpost.com Petrobras in $1.6bn offshore selloff to Shell, Videsh http://www.globalpost.com/dispatch/news/afp/131230/petrobras-16bn-offshore-selloff-shell-videsh <div class="field field-type-text field-field-byline1"> <div class="field-items"> <div class="field-item odd"> Agence France-Presse </div> </div> </div> <!--paging_filter--><p>Brazilian state oil giant Petrobras said Monday it had sold Shell and India's ONGC Videsh its 35 percent stake in the Parque das Conchas offshore project for $1.636 billion.</p> <p>Petrobras said the deal followed through on an August agreement with Anglo Dutch Shell and ONGC Videsh, the overseas unit of India's biggest oil explorer, to sell off its stake in the "BC-10" zone, comprising five fields located in the south-east Campos Basin area.</p> <p>The deal was approved by Brazilian regulatory authorities.</p> <div class="field field-type-text field-field-wire-copyright"> <div class="field-items"> <div class="field-item odd"> <p><a href="http://www.afp.com/" class="button wire afp"></a></p> <p><a href="http://www.globalpost.com/terms-use#afp"><span>Copyright AFP, 2013.</span></a></p> </div> </div> </div> <p><a href="http://www.globalpost.com/dispatch/news/afp/131230/petrobras-16bn-offshore-selloff-shell-videsh" target="_blank">read more</a></p> Campos Basin Oil and Natural Gas Corporation Petrobras Petrobras USD AFP Tue, 31 Dec 2013 00:01:53 +0000 Agence France-Presse 6032181 at http://www.globalpost.com 2ndLD-Writethru: Indian authorities evacuate oil rig after gas leak near Mumbai http://www.globalpost.com/dispatch/news/xinhua-news-agency/140719/2ndld-writethru-indian-authorities-evacuate-oil-rig-after-ga <div class="field field-type-text field-field-byline1"> <div class="field-items"> <div class="field-item odd"> Xinhua News Agency </div> </div> </div> <!--paging_filter--><p>2ndLD-Writethru: Indian authorities evacuate oil rig after gas leak near Mumbai</p> <p>MUMBAI, July 19 (Xinhua) -- The Indian authorities Saturday evacuated dozens of people from a high oil rig 100 km from Mumbai after gas leak was reported off the shore of the city, said police.</p> <p>Meanwhile, the state oil and natural gas company ONGC said no life or property has been lost in the leaking incident and the operations at the rig was safe.</p> <p>The ONGC operates some oil rigs off Munmbai,</p> <p>At least 45 non-operative staff at the site were evacuated, said Indo-Asian News Service.</p> <div class="field field-type-text field-field-wire-copyright"> <div class="field-items"> <div class="field-item odd"> <p><a href="http://www.globalpost.com/terms-use#cp">Copyright 2014 Xinhua News Agency.</a></p> <p>Xinhua is China's state-run news agency.</p> <p>All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.</p> </div> </div> </div> <p><a href="http://www.globalpost.com/dispatch/news/xinhua-news-agency/140719/2ndld-writethru-indian-authorities-evacuate-oil-rig-after-ga" target="_blank">read more</a></p> Business Disaster Economy of India Labor Law Oil and Natural Gas Corporation ONGC F.C. Xinhua News Agency Sat, 19 Jul 2014 19:00:03 +0000 Xinhua News Agency 6209569 at http://www.globalpost.com 1st LD Writethru: Indian authorities evacuate oil rig off Mumbai after reported gas leak http://www.globalpost.com/dispatch/news/xinhua-news-agency/140719/1st-ld-writethru-indian-authorities-evacuate-oil-rig-mumbai- <div class="field field-type-text field-field-byline1"> <div class="field-items"> <div class="field-item odd"> Xinhua News Agency </div> </div> </div> <!--paging_filter--><p>1st LD Writethru: Indian authorities evacuate oil rig off Mumbai after reported gas leak</p> <p>MUMBAI, July 19 (Xinhua) -- The Indian authorities on Saturday evacuated dozens of people from a high oil rig after gas leak was reported off the shore of the city, said police.</p> <p>Meanwhile, the state oil and natural gas company ONGC said no life or property has been lost in the leaking incident and the operations at the rig were safe.</p> <p>The ONGC operates some oil rigs off Munmbai.</p> <div class="field field-type-text field-field-wire-copyright"> <div class="field-items"> <div class="field-item odd"> <p><a href="http://www.globalpost.com/terms-use#cp">Copyright 2014 Xinhua News Agency.</a></p> <p>Xinhua is China's state-run news agency.</p> <p>All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.</p> </div> </div> </div> Disaster oil Oil and Natural Gas Corporation Oil platform ONGC F.C. Xinhua News Agency Sat, 19 Jul 2014 23:15:08 +0000 Xinhua News Agency 6209654 at http://www.globalpost.com