Oil And Natural Gas Corporation

Axis Capital has initiated coverage on ONGC with a 'Sell' rating, citing concerns over production, oil prices, and subsidiary debt

State-owned Oil and Natural Gas Corporation (ONGC) has reported an 18 per cent fall in its second-quarter net profit due to lower oil prices. The company's net profit stood at Rs 9,848 crore in July-September -- the second quarter of 2025-26 financial year -- compared to Rs 11,984 crore earnings in the same period a year back, ONGC said in a statement. The fall in profit of India's biggest oil explorer was primarily a decline in crude oil prices -- from USD 78.33 per barrel in Q2 of FY25 to USD 67.34 in the current fiscal. The crude oil that ONGC pumps from the ground and from beneath the seabed is sold to refineries, which process it into fuels like petrol and diesel. Price of natural gas, which is used to generate electricity, produce fertilizer, power automobiles as CNG and used in household kitchens as cooking fuel, rose 3.8 per cent to USD 6.75 per million British thermal unit for legacy wells. The rate for gas from new wells -- which receives a premium to offset additional c

Q2FY26 company results: Firms including Bajaj Finance, Ather Energy, WeWork India, Jindal Stainless, and DOMS Industries are also to release their July-September earnings reports today

Of the Rs 9,000 crore savings forecast, ONGC expects savings of Rs 4,300 crore by March 2026 as it implements 20 initiatives to boost cost efficiency

The idea is to ensure the country's gas pipeline network is ready for Hydrogen integration, so as to send a clear signal to the industry that this future fuel can be transported to the market

ONGC Videsh is the overseas investment arm of ONGC and annually produces about 10 million tonnes of oil through its assets

On a standalone basis, ONGC's gross revenue dropped 9.3 per cent Y-o-Y to ₹32,003 crore, while net profit fell 10.2 per cent to ₹8,024 crore from ₹8,938 crore last year.

As oil loses ground and an era of energy transition dawns, ONGC, India's flagship producer, has accelerated plans for renewables, biofuels, and nuclear ventures

Assam Chief Minister Himanta Biswa Sarma on Friday said Oil and Natural Gas Corporation (ONGC) will begin permanently capping the crude oil well in Sivasagar district that has been leaking gas for the past nine days. Speaking at a press conference, Sarma said ONGC had already implemented two emergency measures without success. "There are usually four emergency methods that ONGC and Oil India Limited (OIL) apply to check such leakages. ONGC has already implemented Plan A and Plan B without any success," he said. The energy major will now apply Plan C, which will cap the entire well permanently, and for this, US experts will reach Sivasagar by this evening, he said. 'Capping of the well will begin tomorrow and will be carried out in consultation with the US experts. It is expected to be completed within the next four or five days', he added. After exploring multiple approaches with great effort and precision, ONGC is now advancing with a more practical and safer strategy to cap the

State-owned Oil and Natural Gas Corporation (ONGC) reported a 35 per cent drop in its March quarter net profit as it realised lower oil prices on almost static output. Net profit stood at Rs 6,448 crore in January-March - the fourth quarter of FY25 (April 2024 to March 2025 ) - compared to Rs 9,869 crore in the same period last year, according to a company statement. The firm got USD 73.72 per barrel of crude oil that it produced and sold to refiners for processing into petrol and diesel in the fourth quarter, down from USD 80.81 per barrel a year back. Revenue was up 1 per cent at Rs 34,982 crore. ONGC produced 4.7 million tonnes of crude oil in the quarter, marginally lower than 4.714 million tonnes in January-March 2024. Production of natural gas, which is used to generate electricity, make fertiliser and turned into CNG as well as used for cooking in kitchens, was lower at 4.893 Billion Cubic Metres (BCM) in Q4 as opposed to 4.951 BCM. For the full fiscal (FY25), ONGC's net p

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India's natural gas consumption is likely to rise by close to 60 per cent by 2030 on the back of rise in usage of the fuel as CNG in automobiles and for cooking and industrial purposes, according to a study by oil regulator PNGRB. Consumption of natural gas, which is used to produce electricity, make fertilizer or turned into CNG for running automobiles and piped to household kitchens for cooking, is expected to rise from 188 million standard cubic metres per day in 2023-24 to 297 mmscmd by 2030 under 'Good-to-Go' scenario which assumes moderate growth and developments based on current trends and commitments, the study by Petroleum and Natural Gas Regulatory Board (PNGRB) said. It is projected to rise to 496 mmscmd by 2040 under the same scenario. Under the 'Good to Best' scenario that considers accelerated progress, favourable policy implementation, and enhanced investments leading to higher-than expected growth, consumption could rise to 365 mmscmd by 2030 and 630 mmscmd by 2040.

Oil India's output is expected to decline by 21 per cent to 66,000 bpd by 2029-30 from 84,000 bpd next financial year, according to the report

The company's multi-pronged approach involves entering the refining and petrochemical sectors, trading liquefied natural gas and growing its renewable capacity

ONGC PetroAdditions Ltd, a subsidiary of the state-owned Oil and Natural Gas Corporation (ONGC), has relinquished its 'only-for-export' unit status as it aims to tap into the booming local petrochemical market to drive a turnaround. In a stock exchange filing, ONGC said OPaL has received the final approval for its exit from the Dahej Special Economic Zone (SEZ). "Accordingly, OPaL shall operate as a Domestic Tariff Area (DTA) unit with effect from March 8, 2025," ONGC said. "Further, this exit from SEZ will improve the competitiveness of OPaL for supplies to be made to the DTA". This essentially means primarily catering to the domestic Indian market instead of focusing on exports, which is the primary purpose of an SEZ unit. It will now not have to pay customs duty on products sold within India, helping improve margins. The move is primarily to gain access to the wider domestic market and potentially benefit from the lower corporate tax regime. ONGC's C2C3 project extracts ethane

India has committed to setting up 500 GW of non-fossil fuel electricity generation capacity by 2030, but is still falling short of its previously set target to add 175 GW by 2022

The drop in ONGC share price came after the company reported a weak set of results in the December quarter of financial year 2025 (Q3FY25)

In a step towards enhancing safety and emergency response, energy major Oil and Natural Gas Corporation (ONGC) has ramped up its fleet of ambulances in Assam by adding 65 new vehicles, an official said on Friday. The new ambulances, which were leased from the Assam State Transport Corporation (ASTC) for a period of five years, were added to ONGC's fleet in Sivasagar, he said. Out of the total ambulances, 63 are equipped with essential features, like foldable seats, swiveling fans, autoloader stretchers and provisions for 2.2 L oxygen cylinders. "These ambulances will be strategically deployed across ONGC Assam Asset's operational sites, including drill locations, workover rigs and production installations," the official said. Besides, two advanced life support (ALS) ambulances fitted with critical life-saving equipment such as ventilators, defibrillators, suction pumps and oxygen delivery systems have also been hired, he said. The company has decided to deploy these two ALS ambula

ONGC said TSP will receive a fixed fee for the first two years, followed by a service fee based on a percentage share of the revenue from net incremental hydrocarbon production

Upstream player ONGC has seen strong buying although 3QFY25 is expected to be flat