Sudhir Vasudeva

ONGC intends to set up power plants based on unconventional energy sources

ONGC intends to set up power plants based on unconventional energy sourcesGovernment-run exploration giant Oil & Natural Gas Corp (ONGC) has announced its intention to establish its own power plants based on unconventional energy sources such as nuclear and wind.

Sudhir Vasudeva, Chairman & Managing Director of ONGC, said that the recent hikes in the gas prices made them to re-look at other potentials.

ONGC reports its biggest drop in quarterly net profit in four years

ONGC reports its biggest drop in quarterly net profit in four yearsState-run Oil & Natural Gas Corp (ONGC) on Thursday reported the biggest drop in quarterly profit in almost four years.

ONGC revealed that its net profit slipped 31.8 per cent to Rs 5,897 crore, or Rs 6.89 per share, in the three months through September 30, from Rs 8,642 crore in the corresponding period of previous year.

CAG criticizes ONGC over inefficient exploration performance

CAG criticizes ONGC over inefficient exploration performanceGovernment-owned Oil & Natural Gas Corporation (ONGC) has met severe condemnation from the Comptroller & Auditor General (CAG) for being inefficient in its core exploration performance.

In its report, the CAG said that ONGC did not place sufficient emphasis on its oil & gas exploration activities and added that the public sector company did not finish work in 74 per cent of exploration blocks.

ONGC signs MoU with Mitsui & Co for gas, LNG business

ONGC signs MoU with Mitsui & Co for gas, LNG businessOil & Natural Gas Corporation (ONGC) has confirmed that it has penned an agreement with Japan-based Mitsui & Company for a comprehensive cooperation in the natural gas and LNG businesses.

The memorandum of understanding (MoU), which was signed on 14th of August, will pave the way the installation of a re-gasification terminal in India besides marketing of re-gasified LNG.

Refiner unable to import crude from Iran due to sanctions

Refiner unable to import crude from Iran due to sanctionsMangalore Refinery and Petrochemicals has said that it was unable to import the contracted volume of crude from Iran during the month of July due to a serious of tough international sanctions against the Islamic republic.

Managing Director PP Upadhya said that the import will soon resume on Indian vessels. He pointed out that the refiner had agreed to import four cargos during July but was able to import only one.\ due to sanctions against tankers from Iran.

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