Page 3 - Ongc

ONGC Q1 results: Net profit falls 10% to ₹8,024 cr on lower oil prices

State-owned Oil and Natural Gas Corporation (ONGC) has reported a 10 per cent decline in its June quarter net profit on lower oil prices and stagnant production from its aging fields. The company reported a net profit of Rs 8,024 crore in the first quarter of 2025-26 fiscal year, compared to Rs 8,938 crore earning in the same period last year, a company statement said. The firm realised USD 67.87 for every barrel of crude oil it pumped out of ground and below seabed from sale to refiners, who convert it into fuels like petrol and diesel, as compared to USD 80.64 per barrel realisation in April-June 2024. Price of natural gas, which is used to generate electricity, produce fertiliser or turned into CNG and piped cooking gas, marginally rose to USD 6.64 per million British thermal units in Q1 from USD 6.5 in last year. ONGC said gas from new wells it drills is eligible for a 20 per cent premium over the government set price, called APM. "ONGC is actively working to boost output from

Stocks to Watch today, Aug 13: Paytm, Nykaa, NSDL, ONGC, Cochin Shipyard

Stocks to Watch today, August 13, 2025: Paytm, Nykaa, ONGC, NSDL, and Cochin Shipyard are some of the key stocks to watch today

Q1 results today: HAL, Nykaa, ONGC, Jindal Steel, 580 others on Aug 12

Q1 FY26 company results: Apollo Hospitals, Honasa Consumer, Aavas Financers, Alkem Laboratories, and Cochin Shipyard are also to release their April-June quarter earnings reports today

ONGC to invest ₹4,600 crore to drill 10 wells, other infra in KG Basin

The oil and gas major ONGC will be investing over Rs 4,600 crore to drill 10 development wells, to set up two unmanned platforms, to lay an offshore pipeline, and to establish an onshore gas processing facility in Konaseema District of Andhra Pradesh. Oil and Natural Gas Corporation Limited (ONGC) has approached the Ministry of Environment and Forests seeking fresh environmental clearance for the proposed project, an Experts Appraisal Committee (EAC) under the ministry said in the minutes of its meeting held on July 24. Letter of Award (LOA) for Offshore Oil and Gas Contract areas KG/OSDSF/CHANDRIKA/2021 (Chandrika) comprising an area 697 sq km and KG/OSDSF/GS49/2021 (GS49) comprising an area of 148 sq km in East coast were issued by Director General of Hydrocarbons in September 2022 under under DSF-III (Discovered Small Field-III). "Total land area required is 26.3 hectares (Odalarevu Terminal) for the proposed installation. Greenbelt will be developed in a total area of 8.7 ...

Tariff on Russian Oil: RIL, HPCL, BPCL, IOC can dip up to 18%, say charts

The Nifty Oil & Gas index is seen testing the 200-DMA support on charts; break below the same could weigh on the sentiment at Reliance, ONGC and Oil marketing companies counters.

ONGC, BP to drill stratigraphic wells for India's energy security

State-owned ONGC has signed an agreement with global energy giant BP to collaborate on drilling multiple stratigraphic wells in India. This partnership will enhance geological understanding and unlock untapped hydrocarbon potential, strengthening India's long-term energy security, Oil and Natural Gas Corporation Limited (ONGC) said in a post on X. "#ONGC has signed a strategic Memorandum of Understanding (MoU) with @bp_plc on 17 July 2025, to collaborate on drilling stratigraphic wells in India's Category II & III offshore sedimentary basins: Andaman, Mahanadi, Saurashtra, and Bengal," the oil major said. The MoU was signed in the presence of Union Ministry of Petroleum and Natural Gas Hardeep Singh Puri on the sidelines of Urja Varta 2025 event in the national capital. Pankaj Jain, Secretary, Ministry of Petroleum and Natural Gas, said this was one of the initiatives that "we have been talking about sometime ... called stratigraphic wells." This is the first of the series of such

ONGC plans new 200,000-240,000 BPD refinery in Gujarat's Jamnagar

India, the world's third-biggest oil importer and consumer, wants to position itself as a global refining hub and is expanding capacity.

India's biggest bet on securing bids from foreign drillers in crucial move

An official said main problem for India's petroleum sector, considering its lucrative geology less than that of countries in Africa and South America, was frequent changes in tax & incentive policies

Hydrocarbon exploration auctions: ONGC may tie up with Petrobras, BP, RIL

ONGC targets full sweep of 25 blocks in country's largest exploration round

ONGC to partner with Mitsui OSK Lines to build two ships to import ethane

The Very Large Ethane Carriers to be built under the deal will supply ethane feedstock exclusively to ONGC Petro Additions Ltd for its petrochemical factory at Dahej

Fossil to future: ONGC charts a bold path; pivots to LNG, renewables

As oil loses ground and an era of energy transition dawns, ONGC, India's flagship producer, has accelerated plans for renewables, biofuels, and nuclear ventures

ONGC contains gas leak at Assam's Rudrasagar well site on 15th day

ONGC, with support from US experts, successfully capped a gas leak at the Rudrasagar field in Assam's Sivasagar district, prompting evacuation of over 1,500 people

ONGC well in Assam capped after 16 days of gas leakage: Hardeep Puri

Union Minister Hardeep Singh Puri on Friday said ONGC has successfully capped the blowout of its crude oil well in Assam's Sivasagar district after 16 days of gas leakage from there. He said the capping was done without any injury, casualty or fire. "ONGC has successfully capped the blowout of well RDS#147A at 1115 hours hrs today. This blowout started on 12th June and has been capped successfully within shortest possible time following all the best practices," Puri said in a post on X. He said the crisis management team of Oil and Natural Gas Corporation (ONGC) along with the international well control experts "finally brought the curtains down on the gas well blowout through meticulous planning and concerted efforts in a safe manner, without any injury, casualty or fire, testifying the competency of crisis management". The minister for Petroleum and Natural Gas also thanked Assam Chief Minister Himanta Biswa Sarma and state government officials for their support to the team on th

US experts join ONGC effort to contain Rudrasagar gas leak in Assam

An expert US team has begun assessment at ONGC's Rudrasagar gas field where a gas leak continues for the eighth day as evacuation and control efforts intensify in Assam

ONGC to permanently cap leaking oil well in Assam's Sivasagar: CM Sarma

Assam Chief Minister Himanta Biswa Sarma on Friday said Oil and Natural Gas Corporation (ONGC) will begin permanently capping the crude oil well in Sivasagar district that has been leaking gas for the past nine days. Speaking at a press conference, Sarma said ONGC had already implemented two emergency measures without success. "There are usually four emergency methods that ONGC and Oil India Limited (OIL) apply to check such leakages. ONGC has already implemented Plan A and Plan B without any success," he said. The energy major will now apply Plan C, which will cap the entire well permanently, and for this, US experts will reach Sivasagar by this evening, he said. 'Capping of the well will begin tomorrow and will be carried out in consultation with the US experts. It is expected to be completed within the next four or five days', he added. After exploring multiple approaches with great effort and precision, ONGC is now advancing with a more practical and safer strategy to cap the

Petroleum product export earnings fell 13.4% to $3.3 bn in May: PPAC

Lower global crude prices reduced May petroleum export earnings to $3.3 billion even as outbound and import volumes rose and crude processing remained steady

Stocks to Watch today, June 18: Hindustan Zinc, BSE, PNB, M&M, Ola Electric

Stocks to Watch today, June 18: Hindustan Zinc, M&M, EMS, GMR Airports, L&T, and Alembic Pharma are among the stocks that will remain in focus today

ONGC set to foray into imported liquefied natural gas business by Q4FY26

Eyes Henry Hub and West Asia for spot deals, plans to cater to city gas sector

ONGC chief urges timely arbitration as Meghwal backs institutional model

Union Law Minister Arjun Ram Meghwal on Saturday pitched for institutional arbitration, saying it was part of Indian culture after the ONGC chairman urged making arbitration proceedings timely and not "timeless". The government has been pushing for institutional arbitration instead of ad hoc arbitration asserting it is efficient and more result oriented. The industry on the other hand feels arbitration in India is slow, inefficient and plagued with red tape. Singapore, London and Dubai have emerged as hubs of international arbitration to settle high stakes, high value commercial disputes. Addressing a conference on institutional arbitration here, the minister also said that organisations should be ready to be flexible and rigid, depending on the need of the hour, to ensure that its interests remain protected and it contributes towards nation building. Meghwal felt that officers should be willing to take risk and not follow the beaten track to ensure financial interests of their ..

ONGC battles uncontrolled gas leak at Assam well, probe underway

State-owned Oil and Natural Gas Corporation (ONGC) mounted efforts to contain an uncontrollable release of natural gas from a well in Assam, saying a crisis management team is laying out equipment to bring the well under control. "Efforts are underway to control the continuous gush of gas from the RDS#147A near Bhotiapar in the Rudrasagar field, located in the Sivasagar District," the company said in a statement. On June 13, around 11:45 AM, during servicing operations at Well No. RDS-147, gushes of gas were observed from the well. There was, however, no fire or injuries. Upon detection, ONGC immediately activated standard safety protocols. The site was promptly secured, and an emergency response team led by the Asset Manager reached the location without delay. ONGC had previously said it was confident that the situation would be brought back to normal "very soon". A detailed investigation has been initiated to ascertain the root cause of the incident. "Crisis Management Team of