Hazira Plant of ONGC has begun operations with revival of first phase of the plant operations with gas supplies at 6 MMSCMD at 1830 hrs today i.e. 19.8.06. The plant had stopped gas supplies of 40 MMSCMD because of heavy floods. The re-starting of gas supplies could be made operational two days ahead of schedule on account of round-the-clock restoration services pressed into operations by ONGC management; with committed efforts at the highest level.

The Hazira Gas Processing Complex of Oil and Natural Gas Corporation Ltd. (ONGC), underwent an emergency shut down due to heavy rains and floods on 8th August 2006. This continued for the second day.

The Board of Oil and Natural Gas Corporation Ltd. (ONGC), in its 158th meeting on 8th August 2006 has approved investment proposals for (i) Development of C-series in Mumbai offshore and (ii) Dahej Petrochemicals Complex.

Floods hit ONGC Hazira Gas Processing Complex on the midnight of August 7-8, calling for emergency shut down.

A section of the Media has come out with a new saying that Oil and Natural Gas Corporation Ltd. (ONGC) plans to sell all its oil fields of Assam Asset to Oil India Ltd. (OIL), Assam.

Dr. Ashok Kumar Balyan, Director (Human Resource) of Oil and Natural Gas Corporation Ltd. (ONGC), has been conferred Fellowship by the All India Management Association (AIMA), at its 11th Convocation held on 5th August 2006 at New Delhi.

Oil and Natural Gas Corporation Ltd. (ONGC) will implement the 750 MW Power Generation and Transmission Project at Palatana in North-eastern state of Tripura in fast-track and commission it in 36 months.

ONGC Videsh Limited (OVL) signed a Memorandum of Understanding (MoU) with PetroEcuador, the State Oil Company of Ecuador on July 19, 2006 at New Delhi.

The Board of MRPL in its 116th meeting held on 18th July, 2006 at New Delhi has approved the Quarterly Financial Results for the First Quarter of the Financial Year 2006-07.

Mr. Lakshmi Mittal – the undisputed czar of global steel world – has expressed optimism about the joint forays of ONGC and Mittal in Exploration & Production (E&P) for Oil across the world.

Oil and Natural Gas Corporation Ltd. (ONGC) and Gas Authority of India Ltd. ( GAIL) signed a Gas Supply Agreement (GSA) today on 7th July 2006 for Gas supplies from ONGC oil and gas fields.

        Highest ever Refinery Crude Thruput at 12.12 MMT, up 3.98% from 11.85 MMT

ONGC Videsh Ltd. (OVL) has signed the Production Sharing Contracts with Vietnam Oil and Gas Corporation ("PetroVietnam”) for Blocks 127 & 128, offshore Vietnam in the Phu Khanh Basin. OVL shall be the operator of the block and will have a 100% participating interest. In the event of a commercial discovery, PetroVietnam through a wholly owned affiliate has the option of obtaining up to a 20 percent participating interest in the Blocks.

As the World Cup soccer fever grips the world, India is on the threshold of carrying forward the same spirit, through the ONGC Super Cup, which is being played at the Cooperage Football Ground in Mumbai today, on 27th May 2006.

Pursuant to the five-year tenure of Mr. Subir Raha as Chairman and Managing Director of ONGC coming to an end on 24th May 2005, Mr. R S Sharma, Director (Finance) - the senior-most Director in the Board of Oil and Natural Gas Corporation Ltd. (ONGC), has taken over the additional charge as Acting C&MD of ONGC, with effect from 25th May 2006.

The assignment of 30% interest of the six exploration Blocks 25, 26, 27, 28 29 and 30 in Cuba to ONGC Videsh Ltd. (OVL) has been approved by the Government of Republic of Cuba. Related agreements were executed with Government of Cuba on 23rd May 2006 .

New Delhi : In July 2005, ONGC Videsh Limited, the overseas investment arm of India's Most Valuable Company ONGC, signed an MOU with Mittal Investments Sarl, the investment holding arm of Mittal Steel, world's largest Steel Company, to form ONGC Mittal Energy Ltd. (OMEL). The brain behind this partnership of Indian goliaths was to leverage the mutual strengths and effectively supplement the efforts of the ONGC Group of companies in securing global footprint in the grand race for acquiring oil & gas assets.

The Board of Directors of Oil and Natural Gas Corporation Ltd. (ONGC) has approved the investment proposal of Rs. 950 Crore, for exploration and development of Coal Bed Methane (CBM) in six blocks in Jharkhand and West Bengal.

The first cargo of 57,337 Metric Tonnes of crude oil from the marginal field D-1 of ONGC, located in Mumbai offshore, was despatched to Mangalore Refinery & Petrochemicals Ltd. (MRPL), the subsidiary refinery of ONGC.

ONGC has been conferred the ‘Golden Jubilee Award for Corporate Social Responsibility in Emerging Economies – 2006’, during the 7th International Conference on Corporate Governance held at London, recently.

Oil and Natural Gas Corporation Ltd. (ONGC) has entered into an agreement with global oil-field service provider M/S Halliburton for collaboration in specific E&P areas.

State Trading Corporation of Mauritius has finalized import of its entire petroleum product requirement for the country, aggregating to approximately one million metric tonnes (Gasoline, Diesel, Jet Fuel, and Furnace Oil) from India, for a period of one year. Mangalore Refinery and Petrochemicals ltd, (MRPL) a subsidiary of ONGC, will be supplying entire quantity. The supplies will commence from August 2006.

Shell Brasil EP (Shell) and Petrobras confirm that Shell has exercised its pre-emption option for an additional 30% of participating interest in the Shell operated BC-10 block located offshore Brazil. Further, Shell and Petrobras have agreed, through Petrobras waiving its pre-emption rights, to the on-sale of 15%, half of Shell’s additional stake acquired through this pre-emption, to the Indian National Oil Company, ONGC Videsh Ltd (OVL). The transaction increases Shell’s equity interest while bringing ONGC into the joint venture partnership. Shell will remain operator