Bloomberg reported that after 14 months of halted production, South Sudan has now resumed oil output but analysts said it could take a year to reach pre-shutdown output levels due to damage to equipment.
Flagship explorer Oil and Natural Gas Corporation on Thursday declared a 27% dip in its net profit for the first quarter of the ongoing fiscal as its sales realisation declined on account of lower crude prices and discounts given to state-run refiners. For full story, click here
Oil and Natural Gas Corp. declared that its gross realisation in the quarter ended March more than halved as international crude prices slipped. For full story, click here
Oil and Natural Gas Corporation wants to quit from Cairn India’s prolific Rajasthan oil fields but the exit will not absolve it from its obligation to pay government levies on the crude oil produced. For full story, click here
Oil and Natural Gas Corporation wishes to exit Cairn India’s prolific Rajasthan oilfields as it has found the project economically unviable due to the Government levies that it will have to bear. For full story, click here
Five years after the announcement of its plan to build a refinery at Barmer in Rajasthan, Oil and Natural Gas Corporation is finding it difficult to go ahead with the proposal. For full story, click here
Public sector ONGC is looking at potential crude oil resources in Rajasthan’s Hadauti region and adjoining districts, according to officials. For full story, click here
State-run explorer Oil and Natural Gas Corp. Ltd has announced its plans to set up a strategic petroleum reserve, in Rajasthan, a storage facility to hold crude oil that is expected to be completed by December. For full story, click here
ONGC ran into trouble for carrying out directions from the government to keep fuel prices low. After investment Goldman Sachs put up doubts over corporate governance in the flagship explorer, the company lost Rs 2,700 crore in market value as its shares tumbled 2% on the Bombay Stock Exchange. For full story, click here
India’s Oil & Natural Gas Corp (ONGC), hascut its crude oil output target by around 3.5% for the current financial year due to infrastructure shortages and technical issues. For more information, click here
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