SIVASAGAR, June 27

Gireesh Chandra Prasad

New Delhi: State-owned ONGC has insured itself against a possible environment damage due to its operations, unlike British Petroleum, which has no external insurance cover for environment damage. ONGC accounts for 80% of India

Chief Minister Tarun Gogoi expressed his dismay at the oil giant ONGC

ARIYALUR: Collector T. Abraham convened a meeting at Jayamkondam in Ariyalur district on Tuesday to elicit opinion of the people of three villages of Amanukkuvandi, Veerachozhapuram and Pilichikuzhi in the district for the proposed exploration activity by the Oil and Natural Gas Corporation (ONGC) in these villages.

In a significant development, the government has given national oil companies, Oil and Natural Gas Corp (ONGC) and Oil India Ltd (OIL), freedom to price any additional natural gas produced from blocks given to them on nomination basis at market rates.

State-run Oil and Natural Gas Corp (ONGC) walked away with more than half of the 33 oil and gas blocks awarded to successful bidders of the recently-concluded eighth round of auction under the New Exploration Licensing Policy (Nelp).

ONGC Videsh Ltd, the overseas arm of state- owned Oil and Natural Gas Corp (ONGC), has made two significant oil discover- ies of 185 million barrels of oil in a block in northeast- ern Syria.

OVL and its partner IPR Mediterranean Exploration Ltd discovered Rashid and Abu Khashab oilfields in Block-24, the company said in a statement here.

Ajay Modi / New Delhi March 1, 2010, 0:12 IST

OMCs also worried at seeming setback to any early move to cut underrecoveries on retailed fuel.

Proposal will bring down the burden of oil companies

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