Mangalore Refinery & Petrochemicals Ltd (MRPL), an ONGC Group Company and a Mini Ratna - I, continues to climb higher, redefining excellence.

In a bid to sustain the fragile Himalayan ecosystem, Oil and Natural Gas Corporation Ltd. (ONGC) has inked an agreement with Uttaranchal Bamboo & Fiber Development Board (UBFDB) to support tree plantation in Upper Himalayas region especially those species which can mitigate Climate Change. During the signing ceremony on 9th July 2008, a cheque of Rs. 54.41 lakhs was handed over to UBFDB.

Director (Exploration) of Oil and Natural Gas Corporation Ltd. (ONGC) Mr. D K Pande has become the first Indian to be elected as the Vice President of the Youth and Gender Engagement Plan of the World Petroleum Congress (WPC).

1.0 Oil and Natural Gas Corporation Ltd. (ONGC) Board, in its 180th meeting held today, approved the Annual Financial Results of ONGC for the fiscal 2007-08 including Group consolidated Accounts and 4th Quarter (Q4); the highlights of which are as follows:

ONGC Tripura Power Co. Pvt. Ltd. (OTPC) has issued a Notice of Award to BHEL on 23rd June 2008 for setting up 726.6 MW capacity combined cycle gas turbine (CCGT) based power project in Palatana. This initiative of ONGC, the lead promoter of OTPC with 50% equity participation, is expected to transform the power scenario of entire North-Eastern Region of the country and catalyze rapid economic development of the region.

The Management of Oil and Natural Gas Corporation Ltd. (ONGC) and its subsidiary Mangalore Refinery & Petrochemicals Ltd. (MRPL) has been considering ways and means to establish a Greenfield refinery in the SEZ at Kakinada. There have been various issues affecting the steering of Projects of Kakinada Refinery & Petrochemicals Ltd. (KRPL) and Kakinada Special Economic Zone (KSEZ).

ONGC Tripura Power Company Ltd. (OTPC) has placed a Letter of Award (LoA) on consortium of Bharat Heavy Electricals Ltd. (BHEL) and General Electric (GE) for the generation of 720 MW of power from Natural Gas produced by ONGC in the north-eastern state of Tripura.

ONGC Videsh logs highest-ever oil & gas production overseas (up 11%) by an Indian E&P Company, Net Profit up 44%

In the interest of sustainable development for times to come, oil major ONGC is making all efforts to become carbon neutral in its oil-field business. This implies that whatever Greenhouse Gases it is necessarily generating to produce Crude Oil & Natural Gas, will be compensated by ONGC’s environment-friendly measures like eco-forestation.

Oil and Natural Gas Corporation Ltd. (ONGC) has entered into a contract with Reliance Industries Ltd. (RIL) to hire the latter’s Single Point Mooring (SPM) facility on Arabian Sea off Hazira coast in Gujarat.

Oil and Natural Gas Corporation Ltd. (ONGC) will supply 0.5 million cubic metres per day of Gas for a period of 15 years to the gas-based power station of North Eastern Electric Power Corporation Ltd. (NEEPCO) coming up at Monarchak at Tripura.

ONGC's good work in Combating Climate Change has won it international recognition. An eminent jury, under the chairmanship of Justice P N Bhagwati, former Chief justice of India and Member of UN Human Rights Commission, adjudged ONGC the winner for 2008 Golden Peacock award for an impeccable record in the Climate change mitigation.

Oil and Natural Gas Corporation Ltd. (ONGC) has secured United Nations registration for its 4th Clean Development Mechanism (CDM) project. ONGC is expected to earn a Green Revenue of Rs. 7.7 million for this Project, thanks to the Certified Emission Reduction (CER) points that would accrue for the next 10 years.

ONGC Petro-additions Limited (OPaL) has entered into a Memorandum of Understanding (MoU) with Gujarat-based Torrent Energy Limited, for supply of bulk power by Torrent to ONGC Petro-additions Ltd. (OPaL).

ONGC has successfully placed its Offshore Package Insurance Policy, one of the largest insurance policies obtained by any Indian company, at an annual gross premium of approximately US$ 29.025 Million, exclusive of Service Tax. ONGC has been able to maintain the insurance premium of the Policy for this Policy year 2008-09 (11th May 2008 to 10th May 2009) at almost the same gross premium as last year despite an overall upward revision of around 32% in the insured asset value, from US$ 15.89 Billion to US$ 21 Billion.

New Delhi, 7th May 2008. Mangalore Refinery & Petrochemicals Ltd, an ONGC Group Company and a Mini Ratna I, announced its audited results for Q4 and for Financial Year 2007-08., recording scorching growth and setting benchmarks in performance.

Oil & Natural Gas Corporation Ltd. (ONGC) has topped the charts in prevention of accidents. The oil major bagged all the twelve National Mines Safety awards for the three years 2004, 2005 and 2006 in Oil Mine category.

The Board of Directors of ONGC held its 178th board meeting at Dehradun Headquarters on 3rd May 2008. The following important business was transacted in the board meeting.

India's national helicopter company Pawan Hans Helicopters Ltd. (PHHL) has paid an Interim dividend of Rs. 2.45 crore (10 per cent) to Oil and Natural Gas Corporation Ltd. (ONGC) for the fiscal 2007-08 (FY-08). The interim dividend cheque was formally handed over to ONGC CMD Mr. R S Sharma by PHHL CMD Mr. R K Tyagi in the former’s office in New Delhi on 17th April 2008.

In its 177th meeting held on Saturday - April 05, 2008, the Board of Oil and Natural Gas Corporation Ltd. (ONGC) took note of the following physical performance (provisional) of ONGC Group Companies during the Financial Year 2007-08:

Mangalore, 4th April 2008. Credit rating agency, ICRA reaffirmed the Issuer Rating of ‘Ir AAA’ assigned to Mangalore Refinery and Petrochemicals (MRPL), the ONGC Group Company and a mini ratna I, certifying that MRPL carries lowest credit risk.

Oil and Natural Gas Corporation Ltd. (ONGC) has taken concrete steps to enhance its inhouse capability on Oil Spill response. The Indian oil major, recognized as India’s Greenest Company, has worked out a strategy to strengthen its oil spill response capability and enhance preparedness to respond to any contingency, after consultations with United Kingdom’s Oil Spill Response and East Asia Response Limited (OSRL) recently.

Shri R Rajamani, Managing Director of Mangalore Refinery and Petrochemicals Limited (MRPL), a Miniratna company and an ONGC group company, took over as the Chairman of the recently formed Joint Venture with Shell India (P) Ltd named ‘Shell-MRPL Aviation Fuel Services Private Limited'. Other Directors on the Board of the Company are Shri Vikram Mehta, Chairman, Shell Group of Companies in India, Shri L K Gupta, Director (Finance), MRPL, and Mr. Richard Jory, GM, Shell Aviation.

ONGC signs MoU with Ministry for 2008-09

ONGC would be signing the annual MOU with the Government of India on 26th March for the year 2008-09. Prior to this, the holding company will have to sign performance contracts with its subsidiaries.