Oil & Natural Gas Corporation Ltd.
BSE: 500312 | NSE: ONGC
Large Cap | Oil Exploration
238.50
2.10 (0.89%) ONGC in talks to buy five blocks from GSPC: Report
Date: 17-08-2018Oil and Natural Gas Corporation (ONGC) is reportedly in preliminary discussion to purchase five blocks from Gujarat State Petroleum Corporation (GSPC). This discussion is in backdrop of the company acquiring 80% stake in GSPC’s Deen Dayal block in the Krishna Godavari Basin in December 2016 for a consideration of Rs 7,738 crore.
ONGC is India’s largest government-run corporation and produces about 70% of India’s crude oil and natural gas. The corporation is the biggest public sector commercial organization in India.