ONGC plans huge investment to cut carbon emissions

Oil and Natural Gas Corp. (ONGC) will spend ₹1 trillion on green initiatives by 2030 to reduce its carbon footprint as part of a broader effort to achieve net-zero emissions by 2038. ONGC’s chairman and managing director Arun Kumar Singh, told that the oil explorer has set an ambitious net-zero target and aims to cut

India keeps domestic gas prices on hold

India will provisionally keep the price of locally produced gas from old fields at $8.57 per million metric British thermal units (mmBtu), the government, while it considers a potential change to the pricing formula. Under the existing formula, the price was due to go up for April-September, but to ensure fair prices for consumers and

Top green hydrogen companies in India

As the world is marching towards cleaner energy solutions to mitigate the use fossil fuels on earth, it has become vital to switch to green and clean alternatives. After the recent UN Climate summit (COP 27) held in Egypt several nations have taken steps in this direction of making their respective countries green by adopting

ONGC plans CCS projects

Oil and Natural Gas Corp (ONGC) is planning a mega carbon capture and storage (CCS) project in collaboration with Norway’s Equinor, which would help capture 1.5 million tonnes of carbon dioxide annually from several emitting industries and store it permanently deep under the seabed off the coast of Gujarat, a company executive said. The collaboration

ONGC signs six contracts for three offshore fields

Oil and Natural Gas Corporation (ONGC) has signed six contracts for Discovered Small Fields (DSF) in offshore, with three each for fields in the Arabian Sea and Bay of Bengal. The contracts were obtained under the DSF-III bid round. These also include four contract areas as a sole bidder and 2 contract areas in partnership

IOC, ONGC together will make bid for JBF Petrochemicals

ONGC and Indian Oil will submit a joint financial bid for JBF Petrochemicals, which is under corporate insolvency process. The submission of EoIs constitutes the first step. After that, interested parties can conduct due diligence on the target company before submitting financial bids to purchase it. JBF Petrochemicals, a manufacturer of purified terephthalic acid, or

ONGC signs a deal with ExxonMobil for deepwater reserves

India’s Oil and Natural Gas Corp (ONGC) signed a deal with global oil major ExxonMobil Corp for deepwater exploration in India’s eastern and western coasts. Under the deal, ONGC and ExxonMobil will put their attention on the deepwater reserves in India’s East and West coasts. The signing of the Heads of Agreement (HoA) ends ONGC

ONGC signs agreement with Greenko for renewables energy

State-run ONGC said that it has signed a Memorandum of Understanding (MoU) with Greenko ZeroC (Greenko) to jointly pursue opportunities in renewables, green hydrogen, green ammonia and other derivatives of green hydrogen. The activities envisaged under this MoU will contribute towards India’s target of producing 5 million tonnes of green hydrogen per annum by 2030.

ONGC plans launch oil and gas exploration in Andaman

ONGC plans to launch the drilling campaign in the Andaman offshore after the monsoon and is currently engaged in talks with ExxonMobil and Shell to involve them in the project. ONGC is expected to drill 3-4 wells under the special programme funded by the government in the Andaman Sea, with each well costing about Rs

Reliance Industries & ONGC to auction natural gas at different rates

Reliance Industries and ONGC plan to separately auction small quantities of natural gas with sharply different floor rates. RIL’s floor price is linked to crude oil and at the current rate of crude, would amount to $14 per mmBtu, while ONGC’s domestic gas price-linked floor is set at $4.5. Reliance has sought bidders for 0.65