Will ONGC ever be Privatised?

The government also wants ONGC to privatize smaller fields, and induct partners in bigger, ageing fields where new technologies and the efficiency of private players can help sustain production. In another shift, the government will “no longer insist” on ONGC hiving off its drilling and well services arm, Kapoor said.

What is the special status achieved by ONGC as a CPSE?

In his address, Deshmukh stressed the importance of a strong public sector and lauded the contribution of the Central Public Sector Enterprises (CPSEs) towards India’s growth. The Maharatna status provides for enhanced autonomy and operational flexibility.

What are the chances of IOCL and ONGC getting privatised?

The chances of IOCL and ONGC getting privatised is directly proportional to what STUFF this politicians are smoking. And the amount of commission they are offered by this rich Capitalist who are going to buy this PSUs (National Asset). If the private owners can make them profitable then why can’t the govt. Infact what is the need of govt then.

Will ONGC sell 60\% stake in oil fields to private companies?

Last November, the oil ministry pushed to sell 60\% stake in the prime oil and gas producing fields of ONGC to private companies, but the attempt was unsuccessful owing to strong opposition from the state-run company.

Is ONGC the key to India’s energy security?

ONGC, a public sector enterprise developed in the late 1950s and 1960s, is key to India’s energy security. Of course, the Congress regimes since the early 1990s chipped away at the company in favour of private businesses looking to dig into the inordinately profitable oil and gas industry.

Is ONGC planning to sell its stake in IOC and Gail?

ONGC has 13.77\% shares in IOC and 4.86\% shares in GAIL that were purchased under the government’s buyback policy earlier. The official said ONGC was planning to sell the IOC and GAIL stakes to the state-owned Life Insurance Corporation of India.