Page 14 - Ongc

Sensex at 100,000? It's possible, believes Chris Wood of Jefferies

The target implies an upside of nearly 62 per cent from the current levels. Wood believes that India remains the best structural story across world markets.

Stocks to Watch today, May 26: Voda Idea, Hind Zinc, RIL, SAIL, Zee, Emami

Stocks to watch on May 26, 2023: BEML, BHEL, Grasim, M&M, ONGC, Shree Renuka Sugars, Sun Pharma and Wockhardt among prominent companies scheduled to announce Q4 results on Friday.

ONGC, Oil India in talks for 50% stake in $3.4 billion Kenya oilfield

India's flagship overseas oil firm ONGC Videsh has got a new partner in Oil India Ltd to replace a reluctant IndianOil (IOC) for the potential acquisition of a 50 per cent stake in Tullow Oil Plc's USD 3.4 billion oilfield project in Kenya, according to people with knowledge of the matter. But the OVL-OIL duo now faces competition from super-aggressive Chinese energy giant Sinopec which has entered the fray taking advantage of the delay on the Indian part in finalising the deal. Originally, ONGC Videsh, the overseas arm of state-owned Oil and Natural Gas Corporation (ONGC), was interested in buying out half of the stakes that Tullow, Africa Oil Corp and TotalEnergies SE held in the Lokichar oilfield in Kenya. The board of OVL had approved the deal, sources said adding the firm however wanted to bring on board IOC, which too had shown interest in the project. For months, OVL-IOC negotiated the stake in the project. But the transaction couldn't be completed as IOC started having seco

ONGC to invest $7 bn to reverse dip in oil & gas production: Sushma Rawat

ONGC is keen to work with global majors as strategic partners in challenging areas, said Sushma Rawat, director (exploration) of the company

ONGC scraps bids for Daman gas field development over cost concerns

State-owned Oil and Natural Gas Corporation (ONGC) has cancelled the bids received for its Daman upside gas development project off the western coast due to high price quotes, sources said. The project is crucial to ONGC's strategy of ramping up gas production from its shallow-water fields off India's west coast. Once completed, the project would lead to nearly doubling of current gas production of 4-5 million standard cubic metres per day. Sources aware of the matter said the bids ONGC received for the project were way higher than the company's internal estimates and so the tender has been cancelled. The tender would now be divided into separate packages and rebid. Engineering and fabrication contractor Larsen & Toubro (L&T) emerged as the lowest bidder when the bids were opened in December last year. It quoted a cost of USD 663.77 million to build the infrastructure needed to ramp up production from the field that lies about 60 kilometers off the west coast. A consortium of .

Stocks to Watch on May 12: Adani Total, RIL, TaMo, ONGC, Vedanta, Mankind

Stocks to watch today: Mankind Pharma has confirmed that the Income Tax Department conducted a search at some of the premises/ plants related to the Company and some of its subsidiaries

ONGC discovers crude oil, natural gas in in two blocks in Mumbai offshore

State-owned Oil and Natural Gas Corporation (ONGC) has discovered crude oil and natural gas in two blocks in Mumbai offshore, the company said on Thursday without giving details of reserves found. The discoveries, which have been named 'Amrit' and 'Moonga', were made in the blocks that the company won in recent open acreage licensing rounds. In a statement, the firm said it "has made discoveries of oil and gas in MBS171HAA-1 (Amrit) in OALP (Open Acreage Licensing Policy) block MB-OSHP-2017/1 in Mumbai Offshore (SW) on the Arabian Sea." "There is another remarkable discovery in MBS182HDA-1(MBS182HDA-A) named 'Moonga' in OALP exploration Block in Mumbai Offshore." ONGC said a detailed assessment of the discoveries was in progress. "With these discoveries, ONGC continues its impressive streak in the OALP blocks by making new discoveries in consecutive years," it said. ONGC Director (Exploration) Sushma Rawat said that with these notable findings in the OALP-I and OALP-III rounds, O

ONGC to get dividend from Russian field; repatriation of income an issue

PSUs have found it challenging to repatriate their dividend incomes from some other Russian oil and gas fields as well, thanks to the Western sanctions

Sensex extends rally to eighth day, ends 242 pts up; Auto, IT stocks shine

Stock market live: Market action will be guided by global cues following the takeover of the fallen US lender First Republic Bank on Monday by JP Morgan Chase

Centre to infuse equity in 3 OMCs after they announce capex plans: Report

OMCs, however, are concerned that equity infusion might impact their share price, market valuation and market perception

ONGC gains 3%, nears 52-week high as govt slashes windfall tax on crude oil

Technical analysts at ICICI Securities expect the stock to maintain positive bias and head towards Rs 171 levels in the coming sessions

ONGC planning to invest Rs 1 trillion to expand production capacity: Report

The expansion plans will be implemented by ONGC's joint venture ONGC Petro additions Ltd (OPaL) and its subsidiary Mangalore Refinery and Petrochemicals Ltd (MRPL)

Stocks to Watch: SBI, ICICI Lombard, ONGC, Reliance, Oil India, Zydus Life

Stocks to Watch: ICICI Lombard General Insurance reported a 39.6 per cent surge in net profit in the January-March quarter (Q4) of FY23

New pricing norms cut earnings downside for gas producers: S&P Ratings

India's new gas pricing regime will offer greater downside protection for earnings of gas companies such as Oil and Natural Gas Corp (ONGC) and Oil India Ltd, S&P Ratings said on Friday. The new norms will not affect the pricing for gas produced from difficult fields that companies like Reliance Industries Ltd operate. Under the new guidelines announced on April 6, 2023, the government will set prices for domestically produced gas on a monthly basis; the rate will be 10 per cent of the average price of the Indian crude basket in the preceding month. The price will have a floor of USD 4 per million British thermal unit (mmbtu) and a ceiling of USD 6.5 per mmBtu. "We expect the new gas pricing terms to result in more fluid market price revisions," said S&P Global Ratings credit analyst Shruti Zatakia. Under the earlier regime, prices were reset semi-annually and were linked to gas prices in key international trading hubs. The pricing mechanism for gas production from deep water,

Oil and Natural Gas Co to bet on deepwater oil as India seeks to cut import

India, with a fast-growing appetite for crude, is eager to reduce its fuel import bill and bolster energy security, and has encouraged companies like state-controlled ONGC to do more

New gas price policy positive for city gas distributors, oil producers

Market analysts are somewhat divided on the CGD companies and on OIL and ONGC

Oil & Gas shares in focus: MGL hits 52-week high; ONGC, IGL jump up to 3%

The Government of India has accepted several key recommendations made by the Kirit Parikh Committee with respect to the pricing of natural gas produced from the APM fields.

Consumer prices of gas tumble as utilities slash PNG and CNG prices

Days after new gas pricing norms adopted by Centre, city gas distribution companies across the country announce price cuts for PNG & CNG

Domestic gas price for April at $7.92, price for consumers capped at $6.5

The government on Thursday amended the domestic pricing model of natural gas in line with the recommendations of the Kirit Parikh committee on gas pricing

Gas price for April at $7.92 but price for consumers capped at $6.5: Govt

The capped rates which are about a quarter less than the current prices, will lead to CNG and piped cooking gas prices being cut by up to 10 per cent