Grainger closes on acquisition of Wis. cleaning supplies businessOctober 14th, 2009 Grainger closes on cleaning supplies acquisitionCHICAGO — W.W. Grainger Inc., an industrial cleaning supplies provider, said Wednesday it closed on the acquisition of a vehicle maintenance products distributor.
ONGC wins most blocks in hydrocarbon auctionOctober 12th, 2009 NEW DELHI - State-run Oil and Natural Gas Corp (ONGC) has bagged 13 blocks in the latest round of auction of hydrocarbon assets, which saw only about half of the oil blocks receiving bids. If ONGC is getting those blocks, then they should find resources to meet their commitments, said Petroleum Secretary R.S.
ONGC to start drilling for oil off Kochi coastAugust 2nd, 2009 KOCHI - It will take at least 100 days to confirm whether there is hydrocarbon presence off Kochi coast, Oil and Natural Gas Corp (ONGC) chairman R.S. Sharma has Sunday.
ONGC net dips 27 percent in first quarterJuly 23rd, 2009 MUMBAI - The net profit of state-run energy major Oil and Natural Gas Corp (ONGC) dipped for the fourth consecutive quarter, declining 27 percent to Rs.4,847.92 crore (about Rs.48.48 billion) for the quarter ending June 30 owing to lower oil prices. ONGC had logged a revenue of Rs.6,636.33 crore (Rs.66.37 billion) in the corresponding quarter the previous fiscal.
Staff strike will hit ONGC margins, says its chairmanMarch 26th, 2009 NEW DELHI - Government-run oil producer Oil and Natural Gas Corp Thursday conceded that this quarter's production may drop on account of the recent employees' strike. Speaking to reporters on the sidelines of an industry conference, ONGC chairman R.S.
ONGC defers fresh investments in Imperial EnergyMarch 26th, 2009 NEW DELHI - The state-run Oil and Natural Gas Corp (ONGC) has postponed its investments in its biggest acquisition, Imperial Energy, and will consolidate operations in western Siberia, the top company official said here Thursday. 'We have decided to do analytical and consolidation studies rather than investing more in raising output,' ONGC chairman and managing director R.S.
ONGC to invest Rs.24.65 bn in AssamMarch 6th, 2009 NEW DELHI - State-run major Oil and Natural Gas Corp Thursday said it will invest Rs.24.65 billion (Rs.2,465 crore) for revamping oil fields in Assam. The board of the upstream major approved the investment for the first phase of renewal of the Lakwa and Lakhmani surface facilities in the northeastern state, a company statement said.
ONGC discovers new oil wells in GujaratFebruary 6th, 2009 AHMEDABAD - The state-run oil producer Oil and Natural Gas Corp (ONGC) has discovered two new oil wells in Patan district in Gujarat, which have estimated oil reserves of over one million tonnes, an official said here Saturday. The oil find was made at a crucial time as the upstream major's Mehsana production unit in the state was witnessing fall in output, said the official, who did not want to be identified.
ONGC net profit dips 43.3 percent in third quarterJanuary 27th, 2009 NEW DELHI - State-run Oil and Natural Gas Corp (ONGC) Wednesday reported a 43 percent dip in net profit in the quarter ended Dec 31, but expressed hope that the fourth quarter performance will be better as there would not be any further subsidy burden. The company's net profit for the third quarter fell to Rs.24.75 billion (Rs.2,475 crore/$506 million) from Rs.43.7 billion a year ago.
India's ONGC gets stake in Kazakh oil blockJanuary 23rd, 2009 NEW DELHI - India's ONGC and its partner Lakshmi N. Mittal Saturday signed an agreement with Kazakhstan's national oil company for a stake in a block in the Caspian oil fields of the Central Asian country.
India, Syria sign oil exploration pactJanuary 13th, 2009 NEW DELHI - India and Syria Wednesday signed an agreement paving the way for ONGC Videsh, the foreign arm of upstream major Oil and Natural Gas Corp, to explore for oil and natural gas in Syria. The agreement was signed here by Petroleum Minister Murli Deora and Syrian Minister of Petroleum and Natural Resources Sufian Al Alaw on the sidelines of Petrotech India 2009, an international conference on oil and gas.
ONGC to decide on exploration in Sri Lanka in a monthJanuary 13th, 2009 NEW DELHI - The state-run Oil and Natural Gas Corp (ONGC) will take a decision on exploration of hydrocarbon assets in a block offered by the Sri Lankan government within a month, the oil minister of the island nation said here Wednesday. Sri Lanka had in 2007 offered ONGC a hydrocarbon block in Mannar Basin for exploration.
ONGC to invest $600 million in Imperial EnergyJanuary 11th, 2009 NEW DELHI - Oil and Natural Gas Corp (ONGC) is set to invest over $600 million for the development of assets of Imperial Energy, in addition to its acquisition price of $2.1 billion, said a company official Monday. ONGC acquired Imperial Energy after more than 97 percent of its shareholders had approved the deal last December.
ONGC may get 40 percent stake in Kazakh blockJanuary 11th, 2009 NEW DELHI - India's ONGC Videsh may buy a stake of up to 40 percent in an oil block in Kazakhstan, an oil ministry official said Monday. ONGC Videsh, the overseas arm of state-run explorer Oil and Natural Gas Corp., may get a share of 30-40 percent in the Satpayev block in the oil and mineral resources rich Central Asian country, the official official said.
Imperial Energy shareholders accept ONGC offerDecember 30th, 2008 NEW DELHI - The overseas arm of state-run Indian upstream oil major, Oil and Natural Gas Corp, Wednesday announced that more than 96 percent of shareholders of the Leeds-based Imperial Energy have accepted its offer for acquisition at $1.89 billion. In a regulatory statement to the London Stock Exchange, ONGC Videsh Ltd (OVL), the overseas arm of ONGC, said it has received acceptances from 96.8 percent of shareholders of Imperial Energy for its offer of 12.50 pounds per share, before the deadline of 1 p.m.
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