ONGC’s third-quarter net profit jumped 65 per cent to Rs 8,262.70 crore on higher prices for oil and gas output, from Rs 5,014.67 crore in the same quarter of the previous financial year. However, ONGC’s net profit saw a marginal decline compared with the Rs 8,264.61-crore profit reported during the quarter ended September 30, 2018. […]
Category: Oil & Gas
IMF note of caution against white-elephant projects
Oil exporters have not fully recovered from the dramatic oil price shock of 2014, the head of the IMF said on Saturday, and she cautioned against spending money on “white elephant projects”. “With revenues down, fiscal deficits are only slowly declining, despite significant reforms on both the spending and revenue sides, including the introduction of […]
Bengal city gas race hots up
The consortium of H-Energy East Coast Private Limited and HPCL has emerged as the top bidder for the city gas and CNG licensing bids in Bengal. In the 10th bid round, the consortium bid for all the four geographical areas in the state put up for auction — Darjeeling, Jalpaiguri and Uttar Dinajpur districts; Howrah […]
Govt offers 23 oil and gas blocks in 3rd round
The government on Sunday offered 23 oil and gas blocks for bidding under the Open Acreage Licensing Policy (OALP), hoping to attract investments of up to $700 million. “In OALP-III, 23 blocks in 12 sedimentary basins are being offered. Of these, five are coal-bed methane (CBM) blocks. The total area on offer is about 31,000 […]
ONGC to re-draw vision document
State-owned Oil and Natural Gas Corporation plans to redraw its vision document for 2040 to outline its strategic goals as an integrated energy firm for the next two decades.