Logo


ONGC gains 5% as ONGC Videsh makes fourth commercial oil find in Colombia

The stock of the state-owned oil exploration and production company was trading at its highest level since March 2020

oil, oilfield, exploration, prices, petrol, crude oil, drill, natural gas, production, ongc, vedanta, cairn
Analysts at Motilal Oswal Financial Services believe that ONGC is expected to grow its gas production in FY22

Shares of Oil and Natural Gas Corporation (ONGC) surged early 5 per cent to Rs 94 on the BSE in the early morning deals on Monday after the company announced that its overseas subsidiary has smade a "significant strike of oil" in Columbia. This is the fourth commercial find in the block by ONGC Videsh. The stock of the state-owned oil exploration and production company was trading at its highest level since March 2020. At 09:25 am, it was trading at Rs 93.15, up 4 per cent, as compared to a 0.15-per cent gain in the S&P BSE Sensex. Around 1 million equity shares had changed ...