Key Developments: Oil and Natural Gas Corporation Ltd (ONGC.BO)

ONGC.BO on Bombay Stock Exchange

382.20INR
5:27am EST
Price Change (% chg)

Rs-3.50 (-0.91%)
Prev Close
Rs385.70
Open
Rs386.00
Day's High
Rs386.30
Day's Low
Rs380.20
Volume
323,454
Avg. Vol
392,202
52-wk High
Rs472.00
52-wk Low
Rs264.00

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Latest Key Developments (Source: Significant Developments)

Oil and Natural Gas Corporation Ltd appoints new Chairman
Monday, 3 Mar 2014 09:36am EST 

Oil and Natural Gas Corporation Ltd:Appoints D K Sarraf as Chairman & Managing Director.D K Sarraf and his dependents hold 3,192 equity shares as on March 01.  Full Article

Oil & Natural Gas Corporation Ltd and Oil India Ltd get EGoM nod to buy Indian Oil Corpn Ltd's stake-Economic Times
Friday, 17 Jan 2014 01:34am EST 

Indian Oil Corpn Ltd: (IOC):Oil & Natural Gas Corporation Ltd (ONGC) and Oil India Ltd (OIL) got the EGoM nod to buy part of the government's stake in IOC, helping the government meet part of its disinvestment target-Economic Times.  Full Article

Oil and Natural Gas Corporation Ltd and Kuwait Petroleum sign deal for strategic partnership - Business Standard
Tuesday, 14 Jan 2014 12:50am EST 

Oil and Natural Gas Corporation Ltd:Says it has signed a memorandum of understanding with Kuwait Petroleum Corporation for upstream, downstream and mid-stream ventures - Business Standard.Says the deal is the first step towards a strategic partnership for ONGC Petro additions (OPaL) and ONGC Mangalore Petrochemicals (OMPL).  Full Article

Rocksource ASA receives legal notice invoking arbitration from Oil and Natural Gas Corporation Ltd
Friday, 10 Jan 2014 02:45am EST 

Rocksource ASA:Says it has received a legal notice from Oil and Natural Gas Corporation Ltd of India (ONGC) invoking arbitration related to disputes over historical costs in the CY-DWN-2001/1 Production Sharing Contract (PSC) offshore India.Says its view remains that it is not liable for any costs on the block.Says in 2008 it executed a memorandum of understanding (MoU) with ONGC, and later that year signed an agreement to farm into the CY-DWN-2001/1 PSC.Says the farm in carried with it a contingent license commitment for the first phase of the PSC consisting of a three well work program.Says the process for assignment of Rocksource's Participating Interest did not complete within the time allowed for in the agreement, and Rocksource has not signed the PSC or Joint Operating Agreement, and never formally became a partner to the block.Says ONGC relinquished the PSC in 2011.Says its position remains that ONGC breached the intent of the MoU and breached terms of its agreement with Rocksource on multiple occasions.  Full Article

Oil and Natural Gas Corporation Ltd declares Interim Dividend
Friday, 6 Dec 2013 08:03am EST 

Oil and Natural Gas Corporation Ltd:Approves interim dividend of 5 Indian rupees per equity share of 5 Indian rupees each for the Financial Year 2013-2014.  Full Article

Oil and Natural Gas Corporation Ltd to appeal against Gujarat High Court order - Business Standard
Wednesday, 4 Dec 2013 12:36am EST 

Oil and Natural Gas Corporation Ltd:To appeal against the Gujarat High Court order asking it to pay up to INR100 billion crore in past royalty dues, saying it cannot pay the levy on a price it hasn't realised - Business Standard.  Full Article

Oil and Natural Gas Corporation Ltd's ONGC Videsh Signs Memorandum Of Understanding With Petrovietnam
Thursday, 21 Nov 2013 08:36am EST 

Oil and Natural Gas Corporation Ltd announced that ONGC Videsh on November 20, 2013 signed Memorandum of Understanding with Petrovietnam (PVN) to promote the joint cooperation in hydrocarbon sector in Vietnam, India and other countries. Under the MOU Petrovietnam has offered five blocks to ONGC Videsh would assess these blocks and if these are of interest, it would make a proposal to Petrovietnam.  Full Article

Great Eastern Energy Corp Ltd Picks Up 25% Stake In Oil and Natural Gas Corporation Ltd's Raniganj CBM block - Business Standard
Monday, 18 Nov 2013 06:18am EST 

Business Standard reported that Great Eastern Energy Corp Ltd has won a 25% stake in Oil & Natural Gas Corporation Limited's (ONGC) Raniganj coal-bed methane (CBM) block in West Bengal. The Company in a filing to the London Stock Exchange (LSE) said: It has been awarded a 25% participating interest in Raniganj (North) Block which was offered by ONGC through a competitive bidding process initiated in January, 2013.  Full Article

Oil and Natural Gas Corporation Ltd To Start Commercial Drilling-Reuters
Friday, 4 Oct 2013 01:43am EDT 

Reuters reported that Oil and Natural Gas Corporation Ltd aims to commence commercial drilling for shale gas next year, its chairman said.  Full Article

Oil and Natural Gas Corporation Ltd's ONGC Videsh Ltd Blocks Chinese Bid To Buy Stake In Brazilian Oilfield-Business Standard
Wednesday, 18 Sep 2013 02:30am EDT 

Business Standard reported that ONGC Videsh Ltd has exercised its pre emption rights to block China's Sinochem Group from buying 35% interest in a Brazilian oilfield for $1.54 billion. ONGC Videsh Ltd, the arm of Oil and Natural Gas Corp (ONGC), in collaboration with Royal Dutch Shell will buy the 35% stake in block BC-10, known as Parque das Conchas, that Brazil's Petrobras had planned to sell to Sinochem, sources with direct knowledge of the development said. WhileONGC Videsh Ltd will pick up 12.08% stake, the remaining 23% will go to Shell. Sources said OVL Shell, who by virtue of their existing stake in BC-10 had a first right of refusal or pre-emption when fellow participants offer stakes for sale, have informed Petrobras about their decision.  Full Article

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