Oil is of very good quality sweet crude with API gravity of 33 and pour point 30 degrees C. It opens up new prospects in North Assam Shelf for further exploration in other areas of Lakwa - Lakhmani, Rudrasagar where similar prospects are buried in deeper depths. This discovery, along with subsequent discoveries of huge oil and gas fields in Western offshore changed the oil scenario of the country.
ONGC would also invest Rs 1, By ensuring fair play, justice and preventing seepage of resources it promotes morale, efficiency and thereby better bottom-line.
ONGC's principle product is Petroleum. The vast sedimentary tract in other parts of India and adjoining offshore remained largely unexplored. The project envisages incremental production of oil and gas with an investment of around Rs 6, crores. In Octoberthe Commission was converted into a statutory body by an act of the Indian Parliament, which enhanced powers of the commission further.
The Russian Energy Ministry and the government also declined to make any immediate comment. Thecompany has been performing outstandingly in the oil and gas industry and is contributing a lotto the Government of India.
History[ edit ] Foundation to [ edit ] Before the independence of India inthe Assam Oil Company in the north-eastern and Attock Oil company in north-western part of the undivided India were the only oil producing companies, with minimal exploration input.
Manmohan Singh and the visiting Brazilian President H.
Ahigh gross profit margin relative to the industry average implies that the firm is able to produce atrelatively lower cost. The 14 projects entailed an investment of Rs 27, crore. It is Ongc report oil refinery at Mangalore.
Send email to me as well Subject: A major campaign for deep-water exploration has been initiated. The sales revenue is increased by The major part of Indian sedimentary basins was deemed to be unfit for development of oil and gas resources.
It is a sign of good management. Two sources - one person close to Exxon, and a high-ranking Rosneft executive not authorised to speak publicly - said both firms are committed to carrying out the LNG plant project within the framework of the Sakhalin-1 agreement. The main functions of the Oil and Natural Gas Commission subject to the provisions of the Act, were "to plan, promote, organize and implement programs for development of Petroleum Resources and Ongc report production and sale of petroleum and petroleum products produced by it, and to perform such other functions as the Central Government may, from time to time, assign to it ".
Subsequently, over 5 billion tonnes of hydrocarbons, which were present in the country, were discovered. We shall promote ethical business practices and foster a culture of honesty and integrity; We shall not offer or accept bribes; We commit to good corporate governance based on transparency, accountability and fairness; We shall adhere to relevant laws, rules and compliance mechanisms in the conduct of business; We shall adopt a code Ongc report ethics for all our employees; We shall sensitise our employees of laws, regulations, etc.
A rising rate has also translated into higher petrol and diesel prices in the country, resulting in public outcry for price control and speculation that government could direct ONGC to subsidise fuel consumers. This discovery will make incremental addition to the output from a cluster that the company is developing.
Its oil and gas production reached 8. The working environment of ONGC as an employer is justtremendous. I chose to undergo a project of budgeting process in ONGC.
This was the very first investment by the Indian public sector in foreign countries and oil from Rostum and Raksh was brought to Cochin where it was refined in a refinery built with technical assistance from Phillips.
Singh said the biggest among the projects is B Cluster development at a cost of Rs 5, After development the fields with produce 1.
Sharma, Chairman and Managing Director of ONGC, said after the board meeting that these discoveries are very significant for ONGC because they have taken place in new formations, possibly leading to many more exploration prospects in the near future.
Consequently, while framing the Industrial Policy Statement ofthe development of petroleum industry in the country was considered to be of utmost necessity.
Sakhalin-1 is pumping close tobarrels of crude oil per day, a record high, as well as natural gas that it has been unable to sell abroad. The present discovery at Kunjaban is a new prospect located North of Agartala Dome.
The total cost of the project is approximately Rs. Decade-long talks with Gazprom and the consortium over gas sales have not yet yielded any results.
Strong marketing structure of other gas companies? Decreasing market price of crude oil? It is expected that the subsidy burden will nearly double for for FY08 due to fluctuation in crude oil prices in the international market.
In a note to the quarterly result, ONGC said it has received a notice from the Directorate General of Hydrocarbons DGH to pay the profit petroleum due to the government from the Panna Mukta and Tapti fields following an arbitration award and a court verdict.
Frequent changes in technology?Jun 29, · ONGC in February had received the report of independent auditors, who certified the company’s oil and gas reserves, a mandatory requirement for explorers making public offers.
ONGC reports strong numbers with quarter profit to Rs 8, crore. - New Delhi, Nov 6 (The Eastern Herald): State-run Oil and Natural Gas Corporation Ltd. (ONGC) has announced its results for the second quarter ending on. d: Does the SOE's most recent public annual report include a cash flow statement?, e: Does the SOE's most recent public annual report include an income statement?, a: Does the SOE publicly disclose its participation in joint ventures?.
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ONGC REPORTS. font proble Adhoc arrears w.e.f. Jan will be paid in November salary as the same has been approved by competent authority. UPDATE ON WAGE REVISION MEETING ON 2nd Day deliberation during Wage Revision Meeting at Delhi.
1. Management has submitted the presentation on Wage Revision. currclickblog.com brings latest ongc news, views and updates from all top sources for the Indian Energy industry.Download