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to keep fuel rate in check, ongc may get dividend waiver for price freeze




as part of a long-term solution to keep petrol and diesel prices in check, the government is in talks with oil and natural gas corp (ongc) to freeze the price of the crude oil it supplies to oil marketing companies. according to sources, this could lead to the company getting a waiver on the dividen...



ongc declares second interim dividend of rs 2.25 per share at 45%




state-owned oil and natural gas corp (ongc) on thursday declared a second interim dividend of rs 2.25 per share for the 2017-18 financial year. the board of the company at its meeting today approved payment of 45 per cent, i.e. rs 2.25 on each equity share of rs 5 as second interim dividend, the com...



markets live: indices off day's high; it stocks gain, ongc down 10%




ongc falls 10%   oil and natural gas corporation (ongc) dipped 10% to rs 157, extending its previous day’s nearly 5% fall on bse, after the media report suggested that the government may ask the company to share the burden to reduce fuel price. read more market check   s&p bse sensex 34,594.49 0...



oil on boil: govt not keen on excise cut, may ask ongc to bear subsidy cut




the government may ask state-owned oil and natural gas corp (ongc) to bear fuel subsidy to help cut petrol and diesel prices, sources said on thursday. the government does not want to cut excise duty and is looking at alternative means to reduce petrol and diesel prices that had on tuesday touched a...



petrol, diesel price hike: higher crude prices threaten govt's dividend income f




rising crude oil prices are not only bad for india's currency and current account deficit, but could also negatively impact the government’s income from central public sector enterprises by drying up the dividend bonanza from oil companies. in fy17, energy public sector undertakings (psus) such as...



ongc q4 net profit up 36% to rs 59 bn on higher net realisation




state-run oil and natural gas corporation (ongc) has posted a net profit of rs 59.15 billion for the fourth quarter of the financial year 2017-18, up 36.3 per cent from rs 43.4 billion during the same quarter in 2016-17, due to higher net realisation. the company’s gross revenue also rose 10.4 per...



hpcl deal: ongc seeks data room access to fix acquisition price




state-owned oil and natural gas corp (ongc) has sought access to a data room to help fix the price at which it can acquire government's 51.11 per cent stake in hpcl.india's largest oil and gas producer has so far been given an information memorandum (im) by government's transaction advisor which ong...



ongc falls 10% in two days; loses market cap worth rs 223 billion




oil and natural gas corporation (ongc) dipped 5% to rs 166, extending its previous day’s nearly 5% fall on bse, after the media report suggested that the government may ask the company to share the burden to reduce fuel price. in past two trading session, the market capitalisation of state-owned o...



govt denies conflict waiver for investment bankers in ongc-hpcl deal




pavan burugula  |  mumbai  august 10, 2017 last updated at 01:36 ist



petrol price hiked by rs 1.23/litre, diesel by 89 paise




petrol price was today hiked by rs 1.23 per litre and diesel by 89 paise a litre in sync with rising international fuel rates.the increase in price, effective midnight tonight, comes on the back of a rs 2.16 per litre cut in petrol and rs 2.10 a litre reduction in diesel prices effected from may 16....



atf price hiked by 7% to a four year high; lpg up by rs 2 per cylinder




jet fuel or atf price was on friday hiked by a steep 7 per cent to a four-year high, while subsidised cooking gas lpg rates increased by over rs 2 per cylinder, reflecting trends in the international oil market. aviation turbine fuel (atf) price was raised by rs 4,688 per kilolitre, or 7.17 per cent...



excise, vat may co-exist with gst on fuel




the goods and services tax (gst) council may try to build consensus among states over imposing the gst on fuel by allowing the centre and states to levy existing taxes over a 28 per cent gst rate.      states have been averse to including fuel in the gst because levies on it account for 40 per c...



ongc videsh offers to invest $6.2 bn in iran's giant farzad-b gas field




with negotiations stuck over pricing of natural gas, ongc videsh ltd has offered to invest usd 6.2 billion in development of iran's giant farzad-b gas field in the persian gulf while leaving the marketing of gas to tehran.ovl had last year made its 'best' offer to spend usd 11 billion in developing ...



bhp confirms introduction of dividend reinvestment plan




bhp’s army of retail shareholders appear likely to be able to participate in the miner’s new dividend reinvestment plan (drp) in time for its next dividend payment.the mining giant said the plan, unveiled on tuesday, was expected to be operational in time for the final dividend for fiscal 2018.b...



ongc: strong prospects after near-term worries




worries over recovery of past dues from the financial crisis-struck venezuela has pushed down the share price of ongc by almost 10 per cent from its recent highs of rs 200 seen in early november. although the risk does exist, analysts believe the concerns are overdone. an analyst with a foreign brok...



subsidised lpg price increased by rs 5.57




subsidised lpg price was hiked by rs 5.57 per cylinder.also, the rate of non-subsidised cooking gas has been cut by rs 14.50 per cylinder, in line with international trends.price of non-subsidised lpg, bought by those who have either given up their subsidies or exhausted the quota of 12 bottles of 1...



govt may levy windfall oil tax on ongc to moderate spiralling fuel prices




the government may levy a windfall tax on oil producers like oil and natural gas corporation (ongc) as part of a permanent solution it is working on for moderating the spiralling retail prices of petrol and diesel. the tax, which may come in form of a cess, will kick in the moment oil prices cross $...



ongc q2 net profit rises over 3% to rs 5,131 crore




state-owned oil and natural gas corp (ongc) today reported a 3.1 per cent rise in its second quarter net profit as impressive gain from rising oil prices were taken away by fall in government mandated natural gas rates.net profit of rs 5,131 crore in july-september was 3.1 per cent higher than rs 4,...



govt may levy 'windfall tax' on ongc, oil to bring down rising fuel prices




the government is likely to levy a ‘windfall tax’, in the form of a cess, on companies like oil and natural gas corporation (ongc) and oil india (oil) to bring down the rising petrol and diesel prices. the move may add additional pressure to oil producers that were already paying a higher cess a...



mumbai petrol price up for 15th day in a row to rs 86.08/l; crude oil down




retail fuel prices in india continue to burn a hole in pockets, with the cost of petrol increasing for a 15th consecutive day on monday to touch a new high of rs 78.27 a litre in delhi, up from rs 78.12 per litre a day before. this, incidentally, happened on a day when the global crude oil price sho...



ongc to acquire government's 51.1% stake in hpcl for rs 369.15 billion




state-owned ongc today said it will acquire the government's entire 51.11 per cent stake in hpcl for rs 369.15 billion (rs 36,915 crore).ongc will pay the government rs 473.97 per share, a premium of over 10 per cent of the 60-days weighted average of hpcl's scrip. in a stock exchange filing, ongc s...



govt may have to cut excise duty as price freeze hits oil firms' margins




marketing margins of oil companies have come under severe pressure with the government freezing the daily revision of petrol and diesel prices ahead of the karnataka polls. according to an industry source, the average marketing margin on petrol and diesel has gone down from rs 3.5 a litre on april 1...



cairn moves international arbitration panel against dividend freeze




press trust of india  |  new delhi  june 11, 2017 last updated at 13:43 ist



proxy advisory firm questions exemptions in rs 369-bn ongc-hpcl deal




proxy advisory firm iias has questioned state-owned ongc seeking exemption from taking shareholders' nod for acquisition of the government's stake in hpcl, saying such leniency with regard to public votes is not warranted. oil and natural gas corp (ongc) bought the government's 51.11 per cent stake ...



ongc to nominate one director to hpcl board, present ones to stay




state-owned oil and natural gas corp (ongc) is likely to nominate one director on the board of recently acquired hindustan petroleum corp ltd (hpcl) while retaining all the present directors of the company. ongc late last month completed acquisition of the government's 51.11 per cent stake in hpcl f...