Page 3 - Oil India

Ukraine war-led spike in prices buoy Q4 performance of ONGC, Oil India

Reversal in price trends, policy measures such as windfall tax by the government and fall in refining margins are among key downside risks

Do not see govt slapping windfall tax amid soaring energy prices: ONGC

ONGC reported bumper profits in Q4 (when international prices soared to a near 14-year high of $139 per barrel) and record earnings in 2021-22, triggering talks of the govt slapping a windfall tax

Oil India reports highest-ever profit due to high fuel, gas prices

Net profit at Rs 1,630.01 crore in January-March was almost double of Rs 847.56 crore profit in the same period of last year, OIL Director (Finance) Harish Madhav told reporters

Oil India suffers cyber attack, receives Rs 57 crore ransom demand

A case was registered under various sections of the Indian Penal Code and the Information Technology Act, 2000

'Sanctions on Russia may result in impairment losses for ONGC, others'

Indian companies' value of investments in Russia's oil and gas fields could be impaired as import bans and international sanctions may constraint future cash flow generating capacity: Moody's

Sensex soars 1,047 pts, Nifty tops 17,250; HDFC jumps 5.5%, Paytm drops 6%

CLOSING BELL: JSW Steel, Titan Company, SBI Life, RIL, Kotak Bank, Tata Consumer Products, Tata Steel, Nestle India, and Eicher Motors were the other notable gainers

Geoscientist, IIT Bombay alumnus Ranjit Rath selected to lead Oil India

Government headhunter PESB has picked a non-upstream executive, Ranjit Rath to head India's second largest state oil and gas producer, Oil India Ltd.

ONGC, Oil India surge 10%; gain up to 41% in 6 months on high oil prices

Earnings outlook for upstream PSUs has improved considerably given the recent rise in crude oil prices above $90/bbl mark and expectation of a further steep hike in domestic gas price over H1-H2FY23

Oil India Q3 net profit jumps 37% to Rs 1,245 cr, total income rises 88%

State-owned Oil India Ltd on Friday reported 37 per cent jump in third quarter net profit as it benefitted from a rise in international oil prices. Net profit of Rs 1,244.90 crore in October-December 2021 is compared with Rs 903.69 crore net profit a year back, the company said in a statement. Total income jumped 88 per cent to Rs 4,705.20 crore in the three-month period ended December 31, 2021. "Average crude oil price realization for Q3 2021-22 is USD 78.59 per barrel as compared to USD 44.09 for Q3 of 2020-21, increase of 78.25 per cent," it said. Also, natural gas price rose to USD 2.90 per million British thermal unit from USD 1.79. While natural gas production rose 18 per cent to 0.793 billion cubic meters in Q3, crude oil production was almost unchanged at 0.75 million tonne. Board of OIL declared a second interim dividend of Rs 5.75 per share for 2021-22 which resulted in total interim dividend till date of Rs 9.25 per share for the fiscal year. For nine months ended Dec

OIL looking for partners to boost production from mature assets: Ops head

The company is planning to start drilling in newly acquired OALP blocks during the current financial year.

Oil India exits US shale venture, sells 20% stake for $25 million

State-owned Oil India Ltd (OIL) has exited from a US shale oil venture, selling its 20 per cent stake to its venture partner for USD 25 million -- the second exit of an Indian firm from the US shale business in two months. "Oil India (USA) Inc (wholly owned subsidiary of OIL), divested its entire stake in Niobrara shale asset, USA," a regulatory filing by the company said, adding the consideration received was USD 25 million. OIL and Indian Oil Corporation (IOC) had together in October 2012 bought a 30 per cent stake in Houston-based Carrizo Oil & Gas's Niobrara shale asset in Colorado for USD 82.5 million. While OIL had acquired 20 per cent, IOC bought 10 per cent in Carrizo's Niobrara basin acreage assets through their respective subsidiaries. The total investment of USD 82.5 million included an upfront cash payment of USD 41.25 million and a carry amount of USD 41.25 million, linked to Carrizo's future drilling and development cost. The stake was sold to Verdad Resources LLC, .

Oil India to set up green hydrogen plant at its oilfield in Assam's Jorhat

Hydrogen being the cleanest form of energy is the latest focus area across the globe to satiate the rising energy needs

Oil India Q2 net up 38% to Rs 1,454 cr on better crude price realisation

Consolidated total income during the period under review stood at Rs 7,420.13 crore, up from Rs 5,598.55 crore a year ago

Oil India aims to increase crude output by over 30% in FY24: Chairman

In a Q&A, Sushil Chandra Mishra says the company hopes to pay off long-term debt raised for NRL stake buy if crude oil rally sustains

Market direction will depend on how Q2 results pan out

Auto, energy and realty have been the big gainers since September 1

ONGC regains Rs 2-trn market cap as stock jumps 8% on higher oil prices

In past one month, the stock has surged 31 per cent as against a 2 per cent rise in the S&P BSE Sensex; Crude oil prices have soared 47 per cent on YTD basis

Oil India hits 31-month high; ONGC at 52-week high on gas price hike

Domestic natural gas prices have been hiked by 62% to $2.9/ mBtu for the October 2021 to March 2022 period

ONGC surges 6%, hits 22-month high on improved outlook; Oil India up 7%

The recent outperformance of oil & gas stocks brings the focus to ONGC, which has so far been unable to replicate the gains seen by the rest of its peers

Rising energy prices spell gains for oil producers

ONGC, Oil India stand to gain, but downstream players may feel the heat

ONGC hits 52-week high, Oil India soars 5% amid jump in crude oil prices

Oil prices climbed on Wednesday after industry data showed a larger than expected drawdown in crude oil stocks in the United States