Page 12 - Ongc

ONGC surges 5%, hits new high; Oil India soars 8% in weak market; know why

ONGC inform that the company has plans to open another well and flow gas to onshore terminal next month through the newly laid subsea gas pipeline

Digital mirror gives ONGC view of safety, business

ONGC, short for Oil and Natural Gas Corporation, recently launched a project called Darpan that technology wise puts the company alongside the best in the world

ONGC acquires Equior stake in Azerbaijan oilfields for $60 million

ONGC Videsh Ltd, the overseas investment arm of state-owned Oil and Natural Gas Corporation (ONGC), has acquired Norwegian firm Equinor's stake in an Azerbaijan oilfield and an associated pipeline for USD 60 million, the firm said in a statement. OVL "has signed a definitive sale purchase agreement (SPA) for directly acquiring 0.615 per cent participating interest (PI) in offshore Azeri Chirag Gunashli (ACG) oil field in Azerbaijan from Equinor. The agreement also includes acquiring 0.737 per cent shares of the Baku Tbilisi Ceyhan (BTC) pipeline company through its wholly-owned subsidiary ONGC BTC Limited," it added. The acquisitions, expected to be completed in the upcoming months, involve a total investment of up to USD 60 million. OVL currently has a 2.31 per cent stake in the ACG field and 2.36 per cent in the BTC pipeline. The buyout of Equinor will help raise its stake. Equinor, in December last year, announced an agreement to sell all its remaining assets in Azerbaijan to SO

ONGC Videsh to pay Equinor $60 million for stake in Caspian Sea oil assets

OVL, overseas investment arm of India's top explorer, will buy 0.615% stake in the oilfield and a 0.737% share in Baku Tbilisi Ceyhan (BTC) pipeline from Equinor, it said in stock exchange filing

ONGC hits 52-week high on commencing production of Coal Bed Methane block

The uptick in stock price came after the company announced that it has commenced production from Coal Bed Methane Block (CBM) in Bokaro, Jharkhand.

ONGC stock hits new high after a gap of over 10 years; up 39% from June low

In the past one year, ONGC share price has outperformed the market by surging nearly 90 per cent as against 21 per cent rally in the benchmark index

ONGC unveils Rs 2 trillion decarbonisation road map for net-zero 2038

Rs 2 trn allocated for 7 Gw of renewables, carbon capture, and green H2 plans

ONGC to invest Rs 2 trillion to meet net zero carbon emission target

State-owned Oil and Natural Gas Corporation (ONGC) will invest about Rs 2 lakh crore in setting up renewable energy sites and green hydrogen plants and cutting gas flaring to zero to achieve its 2038 net-zero carbon emission goal. The company, which produces about two-thirds of India's crude oil and about 58 per cent of natural gas, on Tuesday released a 200-page document, detailing its path to achieving net zero emissions. It listed clean energy projects even as it looks to boost its hydrocarbon output to meet the country's energy needs. ONGC will invest Rs 97,000 crore by 2030 in setting up 5 gigawatts of renewable energy capacity, green hydrogen, biogas, pump storage plant and offshore wind project, according to the document. Another Rs 65,500 crore will be invested by 2035, mostly in a green hydrogen or green ammonia plant, and the remaining Rs 38,000 crore by 2038, primarily in setting up 1 GW of offshore wind projects. These projects will help the firm offset 9 million tonnes

ONGC nears record high, up 5% on strong growth prospects; OIL at new peak

ONGC stock hit an over nine-year high at Rs 303, and was trading close to its record high of Rs 314.67 touched on June 9, 2014.

Buy & sell ideas for July 01 from Anand Rathi: Nestle, SBI Life, ONGC

Notably, SBI Life has recently broken out of this consolidation range and is now sustaining levels above it, indicating a potential upward trend

ONGC sets up 2 100-bed hosps at twin base camps for Amarnath pilgrims

ONGC has set up two 100-bed hospitals at the twin Amarnath base camps in Kashmir and announced that the facilities would continue to operate post the annual yatra. The 52-day pilgrimage commenced from the twin tracks -- the traditional 48-kilometre Nunwan-Pahalgam route in Anantnag and the 14-kilometre shorter but steeper Baltal route in Ganderbal -- early on Saturday. The yatra is scheduled to commence on August 19. ONGC said it teamed up with the health and medical education department to bolster the region's healthcare infrastructure. Recognising the need for sustainable healthcare infrastructure, ONGC, under its Corporate Social Responsibility initiative, constructed permanent hospitals at Baltal and Chandanwari-Pahalgam in Anantnag, it said in a statement. Each of these hospitals are equipped with 100 beds, lodging facilities for medical staff and intensive care units that would serve as primary health centres and provide essential medical services to local communities, it ...

Oil India stock rallies 5%, hits new high ahead of 1:2 bonus; ONGC up 2%

The board of Oil India has fixed Tuesday, July 2, 2024 as record date to determine the eligibility of shareholders to receive bonus shares in the ratio of 1:2.

After 7 yrs & $1.2 bn investment, ONGC offers stake in Deen Dayal gas field

After spending close to USD 1.2 billion and seven years of little success, state-owned Oil and Natural Gas Corporation (ONGC) is seeking partners to rescue the Deen Dayal gas field in the KG basin in Bay of Bengal. ONGC on June 12 sought expression of interest from "global oil and gas companies with requisite technical expertise and financial strength to join as partner (with participative interest) for firming up a viable strategy" for the field, according to the tender document. The field has produced negligible quantities of gas since ONGC in January 2017 acquired Gujarat State Petroleum Corporation's (GSPC) 80 per cent interest in the KG-OSN-2001/3 block off the east coast of India. The block contains the Deen Dayal West (DDW) gas/condensate field which was discovered by GSPC almost two decades back. The Gujarat government company had showcased the field as a promising prospect when it sold its stake to ONGC in order to cut its debt. The field, which was initially said to hold

ONGC partners with Indian Oil to set up LNG plant in Madhya Pradesh

State-owned Oil and Natural Gas Corporation and Indian Oil Corporation have signed an agreement to set up a small-scale liquefied natural gas plant near the Hatta gas field in Madhya Pradesh. The memorandum of understanding (MoU) was signed on June 17, Oil and Natural Gas Corporation (ONGC) said in a statement. It has a gas discovery in the Vindhyan basin. Gas from it will be converted into liquefied natural gas (LNG) for transportation by trucks to consumers. "The establishment of the Hatta LNG plant will significantly enhance the Vindhyan Basin's status, upgrading it from a Category II to a Category I Basin," it said. India's sedimentary basins, covering a total area of 3.4 million square kilometres, are divided into three categories -- Category-I - which has hydrocarbon reserves and already producing; Category-II that have contingent resources pending commercial production, and Category-III with prospective resources awaiting discovery. "The plant will utilise cutting-edge ...

L&T share price gains after bagging large offshore order from ONGC

Shares of Larsen and Toubro (L&T) soared 2.3 per cent at Rs 3716.80 per share on the BSE in Thursday's intraday trade

'No stake sale in Mumbai High, foreign co will only provide tech to ONGC'

Oil and Natural Gas Corporation (ONGC) will not give any equity stake in its flagship Mumbai High oil and gas fields to any foreign company and is only seeking help from global giants like BP Plc to help reverse declining output from the field, a top government official said on Tuesday. The foreign company will get a share of revenue from incremental production plus a fixed fee for its efforts, while ONGC will continue to be the operator and incur all the capital and operating expenditure in implementation of the technical solution, the official said. All risks will be borne by ONGC, while the foreign partner will get the fixed fee even in case of a failure. "Mumbai High is a field that was given to ONGC on nomination basis and the company has no authority or power to sell a stake in any nomination field," the official said. "What ONGC has done is floated an international tender to seek technical services providers (TSP) to reverse years of decline in oil and gas production from the

ONGC, Oil India surge up to 8% amid heavy volume on positive outlook

Analysts at Emkay maintain positive view on B2B oil & gas, as reforms wrt the USD75/bbl assured post windfall tax oil realization and the USD6.5/mmbtu gas realization are unlikely to change.

How to trade Modi stocks ahead of LS election results? Complete guide here

The so-called 'Modi-stocks' have rallied up to 50 per cent in the last six months, suggests a CLSA report. What's in store ahead; here's what the charts suggest.

RIL, Bharti Airtel: What are Modi stocks, and why is CLSA bullish on them?

Within this basket of Modi stocks, the preferred BUYs for CLSA India analysts are ONGC, NTPC, NHPC, SBI, Power Finance, IGL and Mahanagar Gas in the PSU space

ONGC's high investments to delay deleveraging over next 12-24 months: S&P

A step-up in investments at Oil and Natural Gas Corp (ONGC) will slow down its deleveraging over the next 12-24 months, eroding headroom for the state-owned firm's 'bbb+' standalone credit profile, S&P Global Ratings said on Monday. Stating that ONGC's financial results for the fiscal year ended on March 31, 2024, were in line with expectations, S&P said despite a decline of 2-3 per cent in the company's domestic oil and gas production volumes and lower realizations in fiscal 2024, EBITDA grew to Rs 1.1 lakh crore from Rs 93,600 crore in fiscal 2023. "We attribute the higher EBITDA to the strong performance of downstream subsidiaries - Mangalore Refinery and Petrochemicals Ltd (MRPL) and Hindustan Petroleum Corp Ltd (HPCL), which together accounted for about 30 per cent of the group's EBITDA during the year. We forecast ONGC's EBITDA will remain at about Rs 1 lakh crore over fiscal years 2025 and 2026," it said. ONGC's integrated operations will support earnings ...