New Delhi, Jan 6 (IANS) Any increase in the production of oil from Venezuela by US companies has the potential of lowering crude prices in the international market, benefiting all countries, including India. However, analysts are of the view that there is still too much geopolitical uncertainty in the region for large investments to pour into the Latin American country.Unlike China, India is not a big importer of Venezuelan crude, which is heavy and tar-like, making it costly to refine into petr…
Latest ONGC News & Updates
New Delhi, Jan 5 (IANS): Upstream public sector giant Oil and Natural Gas Corporation Limited (ONGC) on Monday signed joint venture agreements with Japan’s Mitsui O.S.K. Lines Ltd. (MOL) for a 50 per cent stake each in two joint venture entities — Bharat Ethane One IFSC Private Limited and Bharat Ethane Two IFSC Private Limited, registered in Gift City at Gujarat’s Gandhinagar.”The Maharatna company will subscribe to 2,00,000 equity shares, of Rs 100 per share, in each of the joint venture …
Amaravati, Jan 5 (IANS) Oil and Natural Gas Corporation (ONGC) has mobilised crisis management teams after a fire broke out following a gas leak at one of its wells in Andhra Pradesh’s Ambedkar Konaseema district on Monday.ONGC said preparatory work was in progress to facilitate well control and, if required, capping of the well.In a statement, the company said the incident of gas leakage during workover operations at well Mori-5 was reported by the PEC operator, Deep Industries Limited, at the …
Amaravati, Jan 5 (IANS) Huge flames following a gas leak from a well of Oil and Natural Gas Corporation (ONGC) in Andhra Pradesh’s Ambedkar Konaseema district on Monday sent people in a state of panic, forcing authorities to evacuate residents of nearby villages.Panic gripped Irusumanda and surrounding villages in Malikipuram Mandal following a massive gas leak from a well of the ONGC.The crude-mixed gas suddenly erupted while repair works were underway using a workover rig after the well had …
New Delhi, Jan 5 (IANS) ONGC may receive nearly $500 million in unpaid dividends from its Venezuelan oil project as the evolving US-Venezuela situation has revived expectations of long-pending payouts from the South American nation, global brokerage firm Jefferies has said.Market experts are anticipating that a potential US takeover of Venezuela’s oil industry could eventually lead to the lifting of sanctions on Venezuelan crude exports.Although US President Donald Trump has said that sanction…
New Delhi, Jan 5 (IANS) Venezuela has the largest proven oil reserves in the world but lack of expertise, under-investment, political interference, mis-management, corruption and sanctions have paralysed the exploitation of its oil reserves, a report showed on Monday.The flip of the calendar witnessed start of a new era where the US struck upon Venezuela, capturing its President Nicolas Maduro and his wife.“Maduro, after being elected as the President in 2013, has been ruling the country mostl…
Mumbai, Jan 5 (IANS) The Indian benchmark indices traded flat with a mild negative bias on Monday over losses in IT stocks and the latest US-Venezuela tensions.Even as Indian companies showed signs of improving quarterly earnings, optimism was blunted by caution over the implications of US military action in Venezuela.As of 9.30 am, Sensex eased 62 points, or 0.07 per cent to 85,699 and Nifty gained 9 points, or 0.03 per cent to 26,319.Main broad-cap indices performed almost in line with benchma…
Mumbai, Jan 2 (IANS) The Indian benchmark indices traded in the green zone early on Friday, supported by strong macroeconomic indicators and stable domestic fundamentals.As of 9.30 am, Sensex advanced 185 points, or 0.22 per cent to 85,374 and Nifty gained 61 points, or 0.24 per cent to 26,208.Main broad-cap indices performed in line with benchmark indices, with the Nifty Midcap 100 adding 0.42 per cent, while the Nifty Smallcap 100 gaining 0.30 per cent.Maruti Suzuki, ONGC and Tata Steel were a…
Mumbai, Dec 26 (IANS) Indian benchmark indices opened flat with a mild negative bias on Friday, as markets are apparently in the consolidation phase amid lack of major cues.As of 9.30 am, Sensex edged down 83 points, or 0.09 per cent to 85,325 and Nifty eased 17 points, or 0.06 per cent to 26,124.Main broadcap indices outperformed benchmark indices in terms of gains, with the Nifty Midcap 100 advanced 0.35 per cent, while the Nifty Smallcap 100 added 0.27 per cent.Cipla, Dr Reddys Labs and ONGC …
Mumbai, Dec 23 (IANS) Indian benchmark indices opened in the red zone on Tuesday, weighed down by losses in the IT stocks after artificial intelligence (AI) stocks in the US showed revival.As of 9.30 am, the Sensex declined 159 points, or 0.19 per cent to 85,407 and the Nifty lost 32 points, or 0.13 per cent to 26,139.Main broad cap indices showed divergent trends, with the Nifty Midcap 100 down 0.18 per cent, while the Nifty Smallcap 100 added 0.07 per cent.ONGC, Tata Steel and NTPC were among …