Page 4 - Oil And Natural Gas Corporation

Higher crude realisations have analysts upbeat on ONGC, Oil India

ONGC reported standalone earnings before interest, taxes, depreciation, and amortisation (EBITDA) of Rs 18,810 crore

ONGC Q2 profit tumbles 30% to Rs 12,826 crore on windfall tax woes

India's top oil and gas producer ONGC reported a 30 per cent fall in September quarter net profit after the government brought a new tax on windfall profits arising from a spurt in international energy prices. Net profit of Rs 12,825.99 crore, or Rs 10.20 a share, in July-September 2022-23 is compared with Rs 18,347.73 crore, or Rs 14.58 per share net profit in the same period a year ago, Oil and Natural Gas Corporation (ONGC) said in a statement. Profit fell 15.6 per cent over the preceding June quarter when it had reported Rs 15,205.85 crore net profit. Net profit fell despite the company's gross billing for crude oil it produced soaring 37.7 per cent to USD 95.49 per barrel in July-September from USD 69.36 a barrel a year back. State-owned ONGC sells crude oil, which is refined at refineries to produce petrol, diesel and other petroleum products, at international benchmark rates which soared following the Russian invasion of Ukraine. However, the government beginning July 1 bro

ONGC prepares for 3rd interim chairman in a row; 9 shortlisted for top job

State-owned Oil and Natural Gas Corporation (ONGC) is preparing for a record third interim chairman as no full-time head of India's most profitable company has yet been selected in 17 months since the post fell vacant, sources said. ONGC is without a regular chairman and managing director since April 2021. Subhash Kumar, the senior-most director on the company board and the director for finance, was named officiating head after Shashi Shanker superannuated on March 31, 2021. And when Kumar retired on December 31, 2021, Alka Mittal, Director for Human Resources, was given an additional charge. Mittal will superannuate at month-end and unless she is given an extension, the next senior-most director, Rajesh Kumar Srivastava, Director (Exploration), is likely to be named as interim head, two officials with knowledge of the matter said. The third interim chairman - a record for ONGC - is being talked about as the government is yet to even identify a full-time head. A search-cum-selectio

ONGC's net profit surges 3x to Rs 15,206 crore in June quarter

Revenue from operations increased to Rs 42,320.72 crore in the first quarter of the current financial year from Rs 23,021.64 crore in the year-ago period.

Centre garners Rs 3,000 crore from windfall tax on oil and gas firms

It is likely to continue with the levy till the Indian basket of crude is above $80 a barrel

Rs 94,800-cr gains from windfall tax an overestimation: Govt sources

At July 1 rates, revenue gains would be less than Rs 48,000 crore if impact on corporation tax is taken into account

Govt slashes windfall tax on petrol, diesel, ATF as crude oil prices drop

Effective from July 20, Rs 6 a litre tax on petrol export has been completely scrapped

India's top listed companies may log strong double-digit growth in Q1

Business Standard analysis is based on the numbers of 47 Nifty companies, excluding Bajaj Finserv, HDFC Life, and SBI Life

Four dead in Pawan Hans helicopter mishap near ONGC's rig at Mumbai High

Three of the four dead were ONGC employees

Adjustment Day: Fine 'rebalancing' act for Nifty indices on Wednesday

The quarterly recapping of Nifty indices takes into account the changes in free-float market capitalisation (m-cap) of companies and realigns their weighting

Centre set to put Pawan Hans sale on hold over winning bidder concerns

This is the second instance where a disinvestment exercise has been put on hold after completion of the process due to allegations against the reputation of the winning bidder

CPSE ETF: Book profits slowly and don't try to maximise gains, say experts

New investors are better off picking diversified offerings

Centre to sell 1.5% stake in ONGC via OFS; may get Rs 3,000 crore

Offer includes green shoe option, opens Wednesday; retail investors can place their bids Thursday

India approaching US over ONGC Videsh taking Venezuelan oil cargoes: CEO

CEO of ONGC Videsh on Sunday confirmed talks between India and the US State Department are underway to allow the company to settle past debts by trading Venezuelan oil cargoes

Six Indian companies out of potential fallen angels list, says Moody's

Upgrade of India outlook, easing of Covid-19 pandemic effect trigger action

Domestic natural gas price up by over 60%: Impact and future outlook

Debasish Mishra, a partner at Deloitte in India, explains the impact of the latest price revision, and the future outlook for gas, in this conversation with Twesh Mishra. Listen in

ONGC offers 43 of its fields to operators for enhancing production

The Centre has been pushing ONGC to increase its oil and gas production in order to trim imports

ONGC agrees to remove marketing margin, but refuses to lower gas price

Potential bidders however opposed the levy of the marketing margin as well as the "high" floor price

Oil and Natural Gas Corp acquires 5% stake in Indian Gas Exchange

The Indian Gas Exchange is a subsidiary of the IEX - India's premier nationwide, automated electricity trading platform

In a setback to ONGC, OIL, prices of domestic natural gas slashed by 25%

The government has also reduced the ceiling price for gas produced from deepwater, ultra-deepwater and high pressure, and high-temperature areas by 28 per cent to $4.06 per mmBtu