ONGC, Oil India Ltd to gain as Govt cuts windfall tax on crude oil
Upstream oil exploration and production companies ONGC and Oil India Ltd will benefit from the announcement as they have to pay the windfall tax on their crude oil output.
Upstream oil exploration and production companies ONGC and Oil India Ltd will benefit from the announcement as they have to pay the windfall tax on their crude oil output.
A delegation of the ONGC called on the Lieutenant Governor of Ladakh, Brigadier (Dr) BD Mishra (Retd), and brought to his notice about the challenging assignment.
The minister further said that he is not in favour of divestment of government stake in state-run oil companies. "Why would we divest ourselves of highly successful Maharatnas like BPCL," he said.
In separate filings, the IOC, HPCL, BPCL, GAIL, OIL and MRPL said they have been slapped with a fine of Rs 536,900 each for the fourth quarter. ONGC faced a fine of Rs 182,900.
The minister further said the government is not against the idea of holding a minority stake in key strategic public sector companies.
Oil and Natural Gas Corporation (ONGC) will set up a new unit to house its gas business and clean energy projects such as green hydrogen, as it looks to fast-track foray into new areas.
ONGC has started producing from the Cluster-2 project in KG-DWN-98/2 block and will slowly ramp up output.
ONGC has started producing from the Cluster-2 project in KG-DWN-98/2 block and will slowly ramp up output.
India's state-controlled Oil and Natural Gas Corporation (ONGC) on Sunday kicked off oil production from its flagship deep-water project in the Krishna Godavari basin offshore the nation's eastern coast.
This will centralize and standardise all vendor payments of ONGC, accelerating the processes for an enhanced 360-degree vendor experience.
