Oil & Natural Gas Corporation Limited
BOM:500312 ISIN:INE213A01011
Oil and Natural Gas Corporation Limited (ONGC) is mainly engaged in the oil exploration and production activities. ONGC Videsh Limited (OVL) is a wholly owned subsidiary of the Company. ONGC has established 6.42 billion tons of in-place hydrocarbon reserves with more than 300 discoveries of oil and gas. Out of these In-place hydrocarbons in domestic acreages, Ultimate Reserves are 2.29 Billion Metric tons (BMT) of Oil Plus Oil Equivalent Gas (O+OEG). It produces 762.3 Million Metric Tons (MMT) of crude and 440.7 Billion Cubic Meters (BCM) of Natural Gas, from 115 fields. OVL’s projects are spread out in Vietnam, Russia, Sudan, Iraq, Iran, Libya, Myanmar, Syria, Qatar, Egypt, Cuba, Nigeria Sao Tome Principe, Brazil, Nigeria and Columbia. OVL has participation in 29 E&P Projects in 15 Countries. Out of the existing 29 Projects, OVL is operator in 14 projects and joint operator in two projects in nine countries.
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Most Asian major markets rebounded on Wednesday morning as investors' sentiment was boosted by gains on Wall Street overnight. Asian stocks fell massively Tuesday with most declines in financial sector.
Asian markets are likely to post solid gains on Thursday, as U.S. stocks rallied on optimism over a fresh rescue package to help banks to remove toxic assets. The Nikkei stock average rose 1.2 percent on Thursday, buoyed by exporters such as Advantest Corp on a softer yen and after optimism about the U.S. government's rescue plan boosted Wall Street.
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