ONGC Videsh acquires $60 mn stake in Azerbaijan’s ACG Field

ONGC Videsh Ltd, the international subsidiary of ONGC, has acquired a 0.615% stake in Azerbaijan’s Azeri-Chirag-Gunashli (ACG) field and a 0.737% shareholding in the Baku-Tbilisi-Ceyhan (BTC) pipeline for $60 million. This acquisition, finalized on November 29, 2024, strengthens ONGC Videsh’s existing interest in the ACG field, where it already holds a 2.31% stake, and its

ONGC looking to set up mini-LNG plants to evacuate gas from wells

Oil and Natural Gas Corporation (ONGC), a State-owned company, is looking to set up mini-LNG plants to evacuate natural gas from wells located in areas that are not connected with pipelines.ONGC has identified five sites in Andhra Pradesh, Jharkhand and Gujarat for setting up mini plants at wellhead that will convert the gas pumped out

GAIL set to establish 26 bio CNG plants

GAIL (India) is set to establish 26 Bio CNG plants within the next two to three years, collaborating with raw material suppliers and biogas producers as joint venture partners. The initiative, requiring an investment of up to Rs 1,300 crore, includes equity contributions of 30 percent from GAIL and its partners. To facilitate this, GAIL

ONGC launches four new eco-friendly cementing units

ONGC has launched four new advanced cementing units in Ahmedabad, aiming for better technology and environmental sustainability. Cementing is the process of securing a casing cylinder with cement after it is placed in an oil well. These new cementing units feature cutting-edge technology to improve performance, quality, and environmental standards. Their automation capabilities, including automatic

SHM Shipcare & ONGC initiate a new era in Indian oil & gas industry

SHM Shipcare, a pioneering force in India’s shipbuilding, maritime, and offshore sector and a renowned provider of life-saving services worldwide, unveiled a ground-breaking innovation, signalling the dawn of “Wings-to-Waves” transformation within the nation’s vital oil and gas industry. The company proudly launched the first of its kind Fast Crew Boat Sea Stallion-I, a 42-meter vessel

ONGC gets nod for green energy subsidiary

The Petroleum and Natural Gas Ministry has approved the formation of a subsidiary company of Oil and Natural Gas Corporation Limited (ONGC) for green energy and gas business. The company will engage in businesses related to green hydrogen, hydrogen blending, renewable energy solar, wind and hybrid etc., biofuels, biogas business and LNG. This was informed

ONGC starts oil production in KG basin

State-run Oil and Natural Gas Corporation (ONGC) said its deep-water block in the Krishna-Godavari basin off the coast of Bay of Bengal has started producing oil, a development that is expected to boost India’s quest for energy self-sufficiency. This development is set to boost ONGC’s overall oil and gas output by 11% and 15%, respectively,

ONGC exploring option to recoup $600 mn oil dividend

India’s ONGC Videsh said it is exploring options including allocation of oil by Venezuela’s state oil company PdVSA to repatriate its pending $600 million dividend for a stake in a project in the south American nation. Indian refiners have resumed purchase of Venezuelan oil following the easing of U.S. sanctions last year. ONGC Videsh (OVL),

ONGC plans $10bn spend on green hydrogen and ammonia

ONGC, India’s largest state-owned oil & gas company, is planning to spend 800bn-850bn rupees ($9.6bn-10.2bn) on developing two million tonnes of green ammonia annual production capacity by 2035. In June 2022, ONGC announced a memorandum of understanding with renewables developer Greenko to jointly develop a 1.3GW electrolyser facility supplying one million tonnes a year of

Tamil Nadu rejects proposal to set up 20 hydrocarbon wells

Tamil Nadu Minister of Environment and Climate Change Meyyanathan Siva V has declined a proposal by the Oil and Natural Gas Corporation (ONGC) to establish hydrocarbon test wells at 20 locations in Tamil Nadu’s Ramanathapuram district in the Cauvery delta region. The Leader of the Opposition in Tamil Nadu, Edappadi K Palaniswamy, had urged the