Page 15 - Ongc

Unfinished business: ONGC facing question marks over future structure, role

This is an unnecessary overhang, since the company has not been on an investment spree

Gas sector confident of smooth transition as it awaits new pricing rules

Officials said existing APM gas prices have been left broadly unchanged till Sept 31 as a temporary arrangement

Stocks to Watch: Bajaj Finance, RIL, ONGC, HDFC Bank, IndusInd, HCL Tech

Stocks to Watch: ONGC, Oil India, Reliance will be in focus as the Centre has slashed windfall tax on domestically produced crude oil to nil from Rs 3,500 a tonne, effective from April 4

ONGC stepping up $7 billion drive to boost output in next 3-4 years

State-owned Oil and Natural Gas Corporation (ONGC) is stepping up a USD 7 billion investment over the next three-four years to reverse years of decline in oil and gas production, company's director for production Pankaj Kumar said. Up to 24 field development, enhanced oil recovery (EOR) and improved oil recovery (IOR) projects are currently in progress that will further help reverse the declining trend in oil and gas production. "Most of our fields are old where natural decline has set in. But we are heavily investing in technology to raise recovery as well as tap isolated reservoirs," he told PTI. ONGC is investing USD 5 billion-plus in development of the Cluster-II region of its flagship KG-DWN-98/2 asset in the Krishna Godavari basin offshore India's eastern coast. It also has multiple field developments in the west coast region, including a planned fifth phase of redevelopment of Mumbai High along with the development of neighbouring fields like Daman, he said, adding these ...

ONGC, Oil India surge up to 6% as oil prices rise post OPEC+ output cut

Sustained higher crude oil prices and gas realisations can result in better profitability for upstream oil and gas companies, analysts said

Stocks to Watch: Tata Motors, ONGC, Maruti, HAL, RVNL, HG Infra, JSW Energy

Stocks to Watch: Oil related stocks like ONGC/Oil India/RIL/ refiners will be in focus as crude jumped 8 per cent following a surprise output cut by the OPEC+

Procurement via GeM crosses target of Rs 2 trillion on last day of FY23

On March 30, GeM completed five million transactions in a single financial year for the first time ever

ONGC signs MoU with France's TotalEnergies for deep-water exploration

The MoU seeks to provide technical help for ONGC's push to explore and reduce green house emissions in development of deep-water blocks especially in Mahanadi and Andamans, off India's east coast

ONGC, Oil India gain 3%; hit over 8-month highs

In past one month, Oil India has rallied 23%, while, ONGC surged 11%, as compared to 0.33 per cent decline in the S&P BSE Sensex.

Govt slashes windfall tax on diesel to Rs 0.50 per litre, nil on ATF

The government slashed windfall profit tax on export of diesel to its lowest of Rs 0.50 per litre and nil on jet fuel (ATF) while the levy on domestically produced crude oil was marginally increased, according to an official order. The levy on crude oil produced by companies such as Oil and Natural Gas Corporation (ONGC) has hiked to Rs 4,400 per tonne from Rs 4,350 per tonne, the order dated March 3 said. Crude oil pumped out of the ground and from below the seabed is refined and converted into fuels like petrol, diesel and aviation turbine fuel (ATF). The government has also cut the tax on export of diesel to Rs 0.5 per litre from Rs 2.5, and the same on overseas shipments of ATF was cut to nil from Rs 1.50 a litre. The new tax rates come into effect from March 4, the order said. This is the second reduction in rates in a fortnight. Rates were cut on February 16. The export levy on diesel and ATF is the lowest since the tax was introduced in July last year. The tax rates are .

Oil India, ONGC gain up to 4% on improved earnings outlook

Sustained higher crude oil prices and gas realisations can result in better profitability for upstream companies, say analysts.

Bear run enters sixth day as Sensex fall 142 pts, Nifty near 17,450

CLOSING BELL: Sectorally, the Nifty Metal index plunged 3 per cent, dragged by Adani Enterprises, which tumbled nearly 5 per cent

ONGC to invest $2 bn in Mumbai offshore to raise oil, gas output

India's top oil and gas producer ONGC will invest over USD 2 billion in drilling a record 103 wells on its main gas-bearing asset in the Arabia Sea as it pivots a turnaround plan that will add 100 million tonnes to production, a company official said. Oil and Natural Gas Corporation (ONGC) has three main assets off the west coast - Mumbai High, Heera and Neelam, and Bassein and Satellite, which contributed the bulk of 21.7 million tonnes of oil and 21.68 billion cubic metres of gas it produced in 2021-22. "We have released a record 103 locations for drilling of wells on the Bassein and Satellite (B&S) assets over the next 2-3 years," ONGC Director (Offshore) Pankaj Kumar said. The wells will tap smaller and hereto untapped reservoirs and help raise output. "We estimate that this development drilling will enhance production by over 100 million tonnes of oil and oil equivalent gas over the life of the field," he said. "The investment involved in drilling and facilities will be over .

Good upside seen in Oil India stock; most analysts are positive

And their price and fair valuation targets range between Rs 275 and Rs 290

Shares of ONGC, Oil India fire up as govt slashes windfall tax sharply

The reduction of windfall tax will reduce cess of domestic oil production companies like ONGC and Oil India.

Stocks to watch: Eicher Motors, Voda Idea, Siemens, Bharat Forge, ONGC

Stocks to watch today: While Eicher Motors posted 62.4 per cent year-on-year (YoY) jump in the December quarter (Q3FY23) profit, Vodafone Idea's net loss widened 10.5 per cent YoY to Rs 7,990 crore

ONGC's Q3 net profit rises 26% to Rs 11,045 crore on high gas prices

Board approves second interim dividend of Rs 4 per share with face value of Rs 5

ONGC Dec quarter consolidated profit jumps 26% on higher oil, gas prices

State-owned Oil and Natural Gas Corporation (ONGC) reported a 26 per cent jump in its third quarter net profit on the back of a rise in oil and natural gas prices. Net profit of Rs 11,044.73 crore, or Rs 8.78 per share, in October-December compared with Rs 8,763.72 crore, or Rs 6.97 per share, in the same period a year back, according to a company's stock exchange filing. The profit was, however, lower than the Rs 12,825.99 crore earnings in the immediately preceding quarter of July-September. The rise in profitability was helped by higher realisation on crude oil and gas the firm produces and sells. This offset the continuing decline in oil and gas production. ONGC earned USD 87.13 for every barrel of crude oil it produced and sold in the third quarter of the current fiscal, up from USD 75.73 a barrel realisation in the year-ago period. Crude oil is refined at refineries to produce fuels such as petrol and diesel. Prices of natural gas, which is used as fuel to produce electrici

ITC, RIL, ICICI Bank help lift Sensex 600 pts higher, Nifty above 17,900

CLOSING BELL: Sensex and Nifty indices snapped their 2-day losing run, ralling on Tuesday as supportive global cues, ease in WPI inflation, and healthy buying in heavyweights lifted sentiment.

Stocks to watch: Adani Enterprises, ONGC, Nykaa, IRB Infra, Castrol India

Stocks to watch today: Adani Enterprises, ONGC, Coal India, Siemens, Grasim Industries, Eicher Motors, among others will report the October-December (Q3FY23) quarter results