ONGC to form a subsidiary for gas business
ONGC plans to begin natural gas production from the deepwater block KG-DWN-98/2 in about two to three months. ReutersPremium
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State-owned Oil and Natural Gas Corp (ONGC) today said that it will form subsidiary for its gas business.
In a regulatory filing ONGC stated, Board has approved creation of new wholly owned subsidiary company for focusing on Gas & LNG business value chain subject to necessary approvals.
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. 07 Apr 2021 The Company is being formed with the objective of sourcing, marketing and trading of natural gas, LNG business, Hydrogen enriched CNG(HCNG), gas to power business, bioenergy/bio-gas/bio methane/other bio fuels business, etc, it further added.
ONGC net profit falls 67 per cent YoY on drop in oil, gas prices
PTI
New Delhi |
Updated on
February 13, 2021
× State-owned Oil and Natural Gas Corporation (ONGC) on Saturday reported over 67 per cent fall in the December quarter net profit on back of a drop in oil and gas prices. Standalone net profit in October-December quarter at Rs 1,378 crore was 67.4 per cent lower than Rs 4,226 crore net profit in the same quarter of the previous year, the company said in a statement here. The company realised USD 43.9 on every barrel of crude oil it produced and sold in the third quarter of the current fiscal, down from USD 58.24 a barrel it had realised in the same period a year back.