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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

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