New Delhi, May 21, 2024. State-owned Oil and Natural Gas Corporation’s (ONGC) March quarter net profit soared 19 times as the year-ago period had a one-time exceptional provision, while it posted a record earning for the full fiscal. The company’s standalone net profit of Rs 9,869 crore in January-March – the fourth quarter of fiscal…
New Delhi, January 08, 2024. State-controlled Oil and Natural Gas Corporation (ONGC) has started oil production from its much-delayed flagship deep-sea project in Krishna Godavari basin in Bay of Bengal, helping reverse years of decline in output, the company said. ONGC has started producing from the Cluster-2 project in KG-DWN-98/2 block and will slowly ramp…
New Delhi, December 04, 2023. ONGC will in May next year start commercial production of crude oil from its much-delayed flagship deepsea project in Krishna Godavari basin. ONGC’s KG basin project, KG-DWN-98/2, is in “challenging geology”. Delays have occurred due to multiple challenges and issues in actual project implementation such as subsurface geological issues, shifting…