Page 6 - Ongc

Govt tweaks city gas policy, moves to advance quarterly allocations

The government will now allocate natural gas to CNG and piped cooking gas retailers two quarters in advance to give city gas companies greater clarity, the Oil Ministry said Friday. With city gas retailers like Indraprastha Gas Ltd, Mahanagar Gas Ltd and Adani-Total Gas Ltd reporting pressures on margins after the allocation of cheaper administered price or APM gas to them was cut without giving enough advance notice, the ministry decided to tweak the allocation policy. "From Q1 (first quarter) of FY 2025-26 (April 2025 to March 2026 financial year), domestic natural gas allocations for CNG (Transport) and piped natural gas (domestic household cooking gas) segments will be done on a two-quarter advance basis," the ministry said in a statement. Besides the lower-priced APM gas produced from old fields given on a nomination basis, the allocation will also now include gas from new wells drilled on the nomination fields of state-owned Oil and Natural Gas Corporation (ONGC) and Oil India

ONGC's cheaper APM gas supply dips, costlier supply to distributors doubles

India's top oil and gas producer ONGC has seen a drop in natural gas production from aging fields that supply CNG and piped cooking gas, resulting in supply reductions for city gas distributors like IGL, MGL, and Adani-Total, officials said. Oil and Natural Gas Corporation (ONGC) is offsetting the natural decline in output from ageing gas fields by drilling new wells. However, gas from these new wells is sold at a higher price to cover the added costs, officials said. Natural gas extracted from the ground and seabed is converted into CNG for vehicles and used as cooking fuel when piped to households. Gas from fields allocated to ONGC on a nomination basis is priced by the government and referred to as APM gas. This APM gas serves as the feedstock for city gas distributors. APM gas is priced at 10 per cent of the monthly average rate of the crude oil basket India imports for its energy needs. However, the price is capped with a floor of USD 4 per million British thermal units and a .

Up to 20% of APM gas allocation replaced with costlier new gas: CGDs

While CGDs say profitability will be hit, officials said the move is in line with stated policy positions

ONGC wins 11 blocks in round 9 of national oil and gas asset auctions

Private company Cairn wins 7; BP wins offshore block in Saurashtra basin

Reliance-ONGC-BP alliance wins Gujarat offshore block for exploration

In an unprecedented alliance, ONGC, Reliance, and BP won a Gujarat offshore block under OALP-IX. ONGC secured 15 blocks overall, while Vedanta won 7 out of 28 blocks offered in the latest bid round

Top dividend-yield PSU shares: Coal India, ONGC, BPCL, IOC, 11 others

Coal India leads the pack with a dividend yield of 8 per cent. Following it are ONGC, and BPCL, both offering a dividend yield of 6 per cent each

Major oil-linked companies stock slump after brent crude oil slips 3%

When oil prices drop, upstream companies face reduced revenue, which can lead to cost-cutting measures, reduced profits, and in some cases, financial losses

RIL, ONGC, Oil India slips up to 7% as crude oil slips below $70/barrel

The weakness in the oil prices came after US President Donald Trump imposed 'reciprocal' tariffs' on trading partners. He also announced a 10 per cent tariff on all countries

India's oil production in dire straits as fuel use continues to be strong

Oil India's output is expected to decline by 21 per cent to 66,000 bpd by 2029-30 from 84,000 bpd next financial year, according to the report

ONGC NTPC Green completes acquisition of Ayana for ₹6,248.5 crore

ONGC NTPC Green Pvt Ltd (ONGPL) has completed acquisition of 100 per cent equity stake in Ayana Renewable Power for Rs 6,248.50 crore. ONGPL is a 50:50 joint venture of NTPC Green Energy Ltd (NGEL) and ONGC Green Ltd. The acquisition was completed on March 27 for a cash consideration of Rs 6,248.50 crore at Rs 23.22 per share, NGEL said in an exchange filing. The Competition Commission of India had given its approval for the acquisition on March 11, 2025. NGEL contributed 50 per cent, that is Rs 3,124.25 crore to the total acquisition cost, it said. Through this acquisition, NGEL aims to expand its capacity in the renewable energy sector to meet its target of 60 GW renewable capacity by 2032. Ayana, a leading renewable energy platform, has capacity of approximately 4,112 MW (2,123 MW operational and 1,989 MW under-construction), strategically located across resource-rich states. Its portfolio is backed by high-credit-rated offtakers such as SECI, NTPC, Gujarat Urja Vikas Nigam L

ONGC, BPCL rally up to 5% as Saudi Aramco draws India investment plan

Aramco is specifically targeting BPCL's refinery in Andhra Pradesh and ONGC's refinery in Gujarat, said a Reuters report.

Saudi Aramco in talks to invest in planned refineries of BPCL, ONGC

Aramco is in separate talks to invest in Bharat Petroleum Corp's (BPCL) planned refinery in the southern state of Andhra Pradesh and a proposed Oil and Natural Gas Corp (ONGC) refinery

ONGC diversifies to safeguard core business amid looming oil glut

The company's multi-pronged approach involves entering the refining and petrochemical sectors, trading liquefied natural gas and growing its renewable capacity

Stocks to Watch, March 24: IndusInd, ONGC, L&T, RIL, Power Grid, NCC, Ola

Stocks to Watch on Monday: IndusInd, ONGC, L&T, RIL, Power Grid, NCC, Raymond, Ola and Welspun Corp are among the stocks to watch today, March 24, 2025

ONGC to import ethane to make up for changed Qatar LNG composition

Oil and Natural Gas Corporation (ONGC) plans to import ethane starting in mid-2028 to compensate for the altered composition of liquefied natural gas (LNG) sourced from Qatar, according to a tender floated by the state-owned firm. India imports 7.5 million tonnes per annum of LNG from Qatar. Under the deal, QatarEnergy supplies 5 million tonnes a year of LNG that contains methane (used to produce electricity, make fertiliser, converted into CNG or used as cooking fuel) as well as ethane and propane -- feedstock to make LPG and petrochemicals -- on a firm basis and the rest on best endeavour basis. This contract is coming to an end in 2028 and the revised contract signed last year envisages QatarEnergy supplying 'lean' gas (one that is stripped of ethane and propane). ONGC spent about Rs 1,500 crore in setting up a C2 (ethane) and C3 (propane) extraction plant at Dahej in Gujarat. The C2/C3 so extracted was used as a feedstock in its petrochemical subsidiary, ONGC Petro additions Ltd

Upstream oil companies return to Andaman Sea, dig offshore wells

Oil India, ONGC hope to strike it big this time

BSE Oil & Gas index surges over 3%; ONGC, BPCL, HPCL, GAIL rally up to 7%

In the past six months, the oil & gas index has underperformed the market by falling 18 per cent, as against a 9.5 per cent decline in BSE Sensex.

ONGC, Oil India, RIL gain upto 2% as Oilfields bill passed in Lok Sabha

The bill aims at delinking petroleum operations from mining, clarifying the granting and extension of petroleum leases, and creating a new dispute resolution mechanism for the exploration

CCI clears ONGC-NTPC Green's proposal to acquire Ayana for Rs 19,500 cr

The Competition Commission of India on Tuesday cleared ONGC-NTPC Green's proposal to acquire renewable energy firm Ayana for Rs 19,500 crore (USD 2.3 billion). ONGC-NTPC Green Pvt Ltd (ONGPL), a 50:50 joint venture between ONGC Green (OGL) and NTPC Green Energy Ltd (NGEL). "CCI approves the proposed combination involving the acquisition of Ayana Renewable Power Pvt Ltd by ONGC NTPC Green Pvt Ltd," the Competition Commission of India (CCI) said in a post on X. Last month, ONGPL said it has signed a share purchase agreement to acquire a 100 per cent equity stake in Ayana Renewable Power Pvt Ltd (Ayana). This is the second biggest deal in the renewable energy space. Adani Green Energy (AGEL) in October 2021 acquired SB Energy India from SoftBank Group Corp (SBG) and Bharti Group in an all-cash deal worth USD 3.5 billion. Ayana, a leading renewable energy platform, has about 4.1 GW of operational and under-construction assets, strategically located across resource-rich states.

ONGC's OPaL exits from Dahej SEZ, aims to tap into booming local market

ONGC PetroAdditions Ltd, a subsidiary of the state-owned Oil and Natural Gas Corporation (ONGC), has relinquished its 'only-for-export' unit status as it aims to tap into the booming local petrochemical market to drive a turnaround. In a stock exchange filing, ONGC said OPaL has received the final approval for its exit from the Dahej Special Economic Zone (SEZ). "Accordingly, OPaL shall operate as a Domestic Tariff Area (DTA) unit with effect from March 8, 2025," ONGC said. "Further, this exit from SEZ will improve the competitiveness of OPaL for supplies to be made to the DTA". This essentially means primarily catering to the domestic Indian market instead of focusing on exports, which is the primary purpose of an SEZ unit. It will now not have to pay customs duty on products sold within India, helping improve margins. The move is primarily to gain access to the wider domestic market and potentially benefit from the lower corporate tax regime. ONGC's C2C3 project extracts ethane