Page 20 - Ongc

Sensex falls 171 pts, Nifty holds 18,300; Dr.Reddy's down 4%, LIC jumps 6%

CLOSING BELL: The key benchmark indices gyrated in a narrow trading band on Monday, before settling with losses as FMCG stocks slipped.

PM inaugurates onshore facilities of ONGC's U-field in KG block in Andhra

Prime Minister Narendra Modi on Saturday dedicated to the nation Oil and Natural Gas Corporation Limited's U-field onshore facilities at Odalarevu in B R Ambedkar Konaseema district of Andhra Pradesh. The project was dedicated to the nation along with the inauguration/foundation-stone laying of various other development projects worth over Rs 10,700 crore in Visakhapatnam, Andhra Pradesh, a company statement said. U-field is situated in Krishna Godavari basin block KG-DWN-98/2 in Bay of Bengal. Natural gas from the field will be brought to the onshore facility through undersea pipelines before being dispatched to users. ONGC, however, did not say when production from this field will start. The U-field is part of ONGC's flagship deep-water KG-DWN-98/2 Cluster-II development project in the prolific Krishna Godavari Basin. U-field is the deepest gas discovery of the project, with gas production potential of about 3 million standard cubic metres of gas per day. "The first well of the

ONGC applies to retain 20% stake in Russia's Sakhalin-1 oil and gas project

"Yes," said the person when asked if ONGC has applied to retain its stake in the project

Tirupati richer than Wipro, Nestle, ONGC; net worth over Rs 2.5 trn

Tirupati's world famous Lord Venkateswara temple's net worth of over Rs 2.5 lakh crore (about USD 30 billion) is more than the market capitalisation of IT services firm Wipro, food and beverage company Nestle and state-owned oil giants ONGC and IOC. Tirumala Tirupati Devasthanams, keeper of the temple dedicated to Tirupati's presiding deity, for the first time since its founding in 1933 declared its net worth. Its assets include 10.25 tonnes of gold deposits in banks, 2.5 tonnes of gold jewellery, about Rs 16,000 crore of deposits in banks, and 960 properties across India. All these total to over Rs 2.5 lakh crore. At current trading price, the networth of Tirupati temple is more than several blue-chip Indian firms, according to stock exchange data. Bengaluru-based Wipro had a market cap of Rs 2.14 lakh crore at close of trading on Friday, while UltraTech Cement had a market value of Rs 1.99 lakh crore. Swiss multinational food and drink major Nestle's India unit, with a market ca

Stocks to Watch: Tech M, Adani Ports, Hero Moto, Voltas, Eicher Motors, RIL

Stocks to watch today: Tech Mahindra's net profit for Q2 FY23 was down 4 per cent at Rs 1,285 crore due to supply-side pressure; NCC received two new orders worth Rs 1,056 crore in October

After ONGC, BPCL gets interim head in absence of regular appointment

Vetsa Ramakrishna Gupta on Tuesday assumed additional charge as chairman and managing director of Bharat Petroleum Corporation Ltd (BPCL) -- the second 'Maharatna' oil PSU to get an interim head in the absence of a regular appointment. Gupta, Director (Finance) at BPCL, succeeds Arun Kumar Singh, who superannuated on October 31, a company statement said. Government headhunter Public Enterprises Selection Board (PESB) had in March this year advertised for the post of chairman and managing director of BPCL to look for a successor for Singh. The applications for the job closed on June 1 but PESB is yet to recommend a candidate, necessitating the appointment of an interim head. Singh retired after serving as chairman and managing director of BPCL for 13 months. His successor, Gupta, 51, is the senior most director on the company board and has thus been given the additional charge. He will superannuate in June 2031. BPCL is the second oil PSU to get an interim head. Oil and Natural Ga

ONGC eyes stake in Russian entity managing Sakhalin 1, says report

India's Oil and Natural Gas Corp plans to take a stake in the new Russian entity that will manage the Sakhalin 1 project in the far east

ONGC, Oil India to gain most from gas price hike; IGL worst hit: Analysts

Analysts at Antique stock Broking said every $1/mmbtu rise in gas prices is expected to lift ONGC, and Oil India's standalone Ebitda by 4 per cent, and 7 per cent, respectively

Sensex down 638 pts; Nifty nears 16900; Adani Group stocks slide, pharma up

CLOSING BELL: Adani Enterprises was the biggest Nifty dragger as it dropped 9 per cent

ONGC, Oil India gain up to 6% as govt increases gas prices; MGL falls 4%

The government has hiked prices of domestically produced natural gas for the October 2022-March 2023 period

Stocks to Watch: Torrent Pharma, ONGC, Dr Reddy's, BHEL, BPCL, Birla Corp

Stocks to Watch: Dr Reddy's has received US FDA nod for marketing Timolol Maleate, which is used to treat Glaucoma

ONGC gets better price for crude oil under new rules, says report

ONGC accepted bids at that level through auction of light sweet oil from its western offshore field, including supplies from the country's flagship Mumbai High fields

Going with the flow: Oil and gas exploration in India

By 2025, tiny Guyana could be producing more oil than the whole of India. This fact alone points to what we have missed out on by driving away international investment through policy hostility

Centre to relax rules, fast-track new measures for oil & gas exploration

More processes to be brought under the self-certification framework while clearance portal is being upgraded

Sensex rises 300 pts, Nifty tops 17,600 despite global weakness; PSBs lead

CLOSING BELL: Gainers outnumbered the losers on the frontline indices today, led by M&M, Bajaj Finance, SBI Life, Adani Ports, HUL, Bajaj Finserv, Nestle India, Eicher Motors, HDFC, ITC, and Infosys

Stocks to Watch: ACC, Ambuja, Adani Power, ONGC, Zomato, Hero MotoCorp

Stocks to Watch Today: In the F&O space, Indiabulls Housing Finance, India Cements, PVR and RBL Bank are in the ban period on Monday

ONGC wants govt to scrap windfall tax, use dividend to tap into earnings

India's top oil and gas producer ONGC wants the government to scrap windfall profit tax levied on domestically produced crude oil and instead use the dividend route to tap into bumper earnings resulting from surge in global energy prices. The firm also favours a floor price for natural gas at USD 10 per million British thermal unit -- the current government-dictated rate -- to help bring deposits in challenging areas to production, two sources aware of the matter said. State-owned Oil and Natural Gas Corporation (ONGC) management during discussions with government officials stated that levying windfall profit tax on domestic oil producers, while at the same time reaping rich savings from buying discounted oil from Russia was unfair. Buying discounted Russian crude oil, which was shunned by the West since the Ukraine conflict, has helped save Rs 35,000 crore and this savings should be ploughed back by boosting domestic output, they said. ONGC management has told the government the .

Stocks to Watch: Reliance, ONGC, Tata Steel, Oil India, Anupam Rasayan

ONGC has signed 6 contracts for Discovered Small Fields (DSFs) under the DSF-III bid round. Contracts were signed for 3 offshore fields each in the Arabian Sea, Bay of Bengal

Why are public sector companies unable to attract talent for higher posts

It is not just that state-owned company leadership are paid much less than what their smaller competitors are paid but their performance is not linked to rewards

Windfall tax: Reliance Industries shares fall 3%; ONGC, Vedanta too decline

Shares of Reliance Industries fell nearly 3 per cent on Thursday after the government raised the tax on export of diesel and jet fuel (ATF) and hiked the windfall profit levy on domestically-produced crude oil. The market heavyweight stock declined 2.99 per cent to settle at Rs 2,560.20 apiece on the BSE. During the day, it fell 3.30 per cent to Rs 2,552. On the NSE, it went lower by 2.93 per cent to Rs 2,560.40 apiece. The company's market valuation also got eroded by Rs 53,578.11 crore to Rs 17,32,034.89 crore on the BSE. Reliance Industries was the biggest laggard among the Sensex components. The 30-share BSE Sensex fell 770.48 points or 1.29 per cent to settle at 58,766.59. The government on Thursday raised the tax on export of diesel and jet fuel and hiked the windfall profit levy on domestically-produced crude oil in line with rising product margins and oil prices. While private refiners Reliance Industries Ltd and Rosneft-based Nayara Energy are the principal exporters of