Page 6 - Ongc Oil

ONGC Videsh makes fourth commercial oil find in its Colombian block

OVL is the operator in the block with a 70 per cent stake, along with its partner Geopark

12790 - 12730 a sacrosanct support zone for Nifty: Angel Broking

Although the overall trend has been strongly up, traders should still avoid aggressive bets

Fire at ONGC plant in Surat extinguished; no casualty, injury reported

The reason for the massive fire is being attributed to three consecutive blasts that took place at two terminals of the Hazira-based ONGC plant

ONGC June quarter profit dives 92% as oil, gas price slump to decade low

State-owned Oil and Natural Gas Corp (ONGC) on Tuesday reported 92 per cent slump in its June quarter net profit after oil prices halved and gas rates fell to a decade low. Standalone net profit of Rs 496 crore in April-June was 91.7 per cent lower than Rs 5,980 crore net profit a year back, the company said in a statement. The surprise profit came after the company delayed payment of cess on crude oil it produces. Initially, the company did not pay even royalty in anticipation of relief from the government to deal with a slump in oil prices. It cleared royalty payments at June-end but cess payments were done only in July. ONGC pays about Rs 400 crore of royalty and cess every quarter to the government. Revenues dipped 51 per cent to Rs 13,011 crore after a nationwide coronavirus lockdown impacted fuel demand. ONGC said it got USD 28.72 for every barrel of crude oil it sold in the quarter, down from USD 66.32 a barrel in the same period a year back. Gas price realisation fell 35

CBI lens on Videocon's Dhoot: Was Rovuma offshore a joy ride for oil firms?

Videocon's dealing with an SBI-led consortium being probed; complaint filed at instance of petroleum ministry which in 2013 under Veerappa Moily oversaw 10% of Videocon stake bought over by ONGC, OIL

Covid hits two of ONGC's most lucrative fields, 54 test positive, one dies

Stops operations at two rigs in Mumbai High and Bassein

ONGC, Oil India, Petronet LNG jump up to 7% amid steady rise in oil prices

Oil prices jumped on Monday to their highest in over two months.

OMCs gain as crude oil prices extend fall; HPCL, BPCL advance 1%

Upstream companies like ONGC and Oil India slipped up to 2 per cent on the BSE

Iran crude oil imports dips to 1.7 mt in FY20, down from 23.9 mt in FY19

This comes at a time of increasing imports from the US, which rose from 1.9 mt in 2017-18 to 6.2 mt in 2018-19. In H1FY20, India imported 5.4 mt from the US.

ONGC to get Panna-Mukta fields from Shell, Reliance after 25 years

Production-sharing contracts for the fields will expire on Dec 21

Five oilfields qualify for fiscal incentives under enhanced recovery policy

The ER policy was notified in October 2018, to promote use of new techniques to increase the recovery rate for oil and gas

Citizenship Act stir: Oil production down 75%, gas output halted in Assam

The PSU major Indian Oil Corporation said vehicle fuel and LPG supply in Tinsukia, Dibrugarh, Sivasagar, Golaghat and Jorhat districts in upper Assam have been severely affected.

ONGC raises $300 mn dollar bond for meeting its capital expenditure

The bonds will bear a coupon of 3.375% and will mature in 2029

ONGC may revise terms of production-boosting plan for 64 oil and gas fields

---Pointer table is not needed---State-run Oil and Natural Gas Corporation (ONGC) is likely to revise the terms of the much-hyped production enhancement plan for 64 oil and gas fields, after concerns raised by prospective bidders over the operating cost and other bidding criteria.According to multiple sources, at least 14 of the 23 companies that participated in the pre-bid meeting on September 17 had asked for "compensation covering the operating cost to be borne by the contractor related to the baseline production". Following this, the Directorate General of Hydrocarbons (DGH) and ONGC have decided to revise the contract terms. It was in February this year that the Union Cabinet had cleared the handing over of 66 discovered marginal oil and gas fields by ONGC and Oil India (OIL) to private players. Industry sources said the revised terms might have to be again cleared by the Cabinet. A government official, however, said, "The process does not need any Cabinet clearance, as the ...

OMPL plans to raise $510 million through foreign currency term loan

India Ratings and Research (Ind-Ra) has assigned an 'AAA/stable' rating

ONGC jumps 9% after clarification on fire incident in Navi Mumbai plant

The company further said the offshore crude supply remains unaffected and the impact of fire in local vicinity is nil

OMCs slip up to 5% after reports say govt may sell stake in BPCL to IOCL

If the deal goes through, an IOCL-BPCL merger will be the third mammoth amalgamation of state-owned companies, excluding banks.

OIL signs contract for 12 oil blocks, Vedanta 10 in latest auction round

Oil India Ltd signed up for the 12 out of 32 oil and gas exploration blocks it won in the twin rounds that ran parallelly

ONGC seeks bids to enhance production from 64 marginal fields

Companies can bid either alone or through consortiums and joint ventures and will be allowed to bid for more than one contract area

ONGC, Oil India gain; BPCL, IOC, HPCL dip as oil hits six-week high

Aban Offshore, Jindal Drilling & Industries, Hindustan Oil Exploration, Deep Industries and Selan Exploration Technology Company have rallied up to 16% on the BSE in intra-day trade.