INDIA-: ONGC, IOC, Oil India bid for Conoco Canada oil assets

A trio of state-controlled oil companies on Monday said it has bid $5 billion for stakes in Canadian oil sands assets owned by ConocoPhillips , in what could be the next major test of Canada's appetite for foreign investment in its energy resources. A completed deal by a group that includes producers Oil and Natural Gas Corp and Oil India Ltd , along with refiner and retailer Indian Oil Corp , would be the first in Canada for Indian energy companies after years of strong public expressions of interest in the Alberta oil sands.

Mumbai Government-run Hindustan Petroleum Corporation (HPCL) is eyeing stakes in overseas oil blocks, primarily in Africa and Kazakhstan, as it looks to beef up its portfolio of producing and disco

Kuala Lumpur Oil and Natural Gas Corp (ONGC), India’s biggest government-owned energy explorer, is considering bidding for part of ConocoPhillips Canadian oil sands holdings worth around $5 billion, a source with direct knowledge of the situation told Reuters on Tuesday.

The Houston-based company has been looking to sell assets in a number of countries including Nigeria as part of a global restructuring. ConocoPhillips recently completed the spin-off of its refining activities into Phillips 66, a newly created independent US company.

Chief Justice Bhaskhar Bhattacharya and Justice J B Pardiwala while issuing notice also asked the Union government why contempt proceedings should not be initiated against them for not complying to High Court order

Gujarat High Court has issued contempt notice to the Union government for its alleged non-compliance of its earlier order to allocate natural gas to Ahmedabad city under APM (administered price mechanism) price which is at present applicable to cities like Delhi and Mumbai.

Each discovery in oil block to be treated as separate cost centre, if proposal gets nod

In a major revamp of oil and gas exploration, the government is likely to notify a policy disallowing companies from deducting as expenses all exploration costs in areas where earlier discoveries are under development or production. It is expected to create a regime whereby each discovery will be treated separately for the purpose.

Agartala: Tata Chemicals will set up a Rs 5,000 crore, gas-based urea plant in northern Tripura in association with State-owned ONGC and Tripura government, officials said here on Tuesday.

ONGC Chairman Sudhir Vasudeva held a meeting with Chief Minister Manik Sarkar in New Delhi on Monday and discussed the matter. “The ONGC CMD informed the Chief Minister that the Tata Chemicals has been chosen as the private partner to set up the fertilizer project in northern Tripura,” a State industry department official told reporters.

Experts feel common infrastructure practical solution as defence min forbids construction of permanent structures

Euphoria Fades Over India’s ‘Gulf Of Mexico’ As Output Falls At RIL’s Finds | ONGC, GSPC Yet To Begin Production

New Delhi: The comptroller and auditor general (CAG)has slammed state-run explorer Oil and Natural Gas Corporation (ONGC) for deviating from standard procedure to hire a drilling rig without suffic

New Delhi Rising global crude oil prices over the last four years have inflated India’s subsidy bill, but the burden on the exchequer could have been higher hadn't the fiscally-conscious government reduced its share of the onus, at the cost of upstream oil companies.

According to official data, between 2008-09 and 2011-12, the Centre reduced its direct funding of oil marketing companies’ losses — from 69.02% of the total estimated under-recoveries to 46.24%. Consequently, upstream firms such as ONGC, OIL and GAIL funded 38% of the under-recoveries in 2011-12, as against 30.98% in 2008-09.