Page 2 - Ongc Oil

MRPL surges 13% on heavy volumes; stock zooms 58% in April

The stock hit over three-year high of Rs 65.45, after rallying 13% on the BSE in Wednesday's trade, on the back of heavy volumes.

ONGC to open Vindhyan Basin in Madhya Pradesh for gas production

The firm had in December 2020 opened the eighth Indian Basin the Bengal Basin, when commercial oil production started from Ashok Nagar discovery

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

ONGC seeks peak oil and natural gas output from KG block in FY24

With KG-D5 going live, oil production is estimated to rise to 24 million tonnes in 2023-24 and gas to rise to 32.16 bcm, said Anurag Sharma, director (onshore) and interim director (finance) of ONGC

Crude trumps $90: ONGC may see 15% upside; OMCs indicate a mixed trend

The two major OMCs were exhibiting a mixed trend on the charts, with HPCL reflecting positivity, while BPCL struggling to hold ground.

Brent tests $85: Invest in these stocks to benefit from surging oil prices

Stocks like HOEC, HPCL, ONGC and Pidilite can rally up to 10 per cent in the near term.

Govt asks ONGC to give 60% stake in mainstay oil fields to foreign firms

Production at Mumbai High and Bassein & Satellite offshore assets under state-owned firm is low, says letter by petroleum ministry.

Monetise reserves or get set for auction: Oil minister Pradhan to ONGC, OIL

Speaking at BNEF Summit on Tuesday, Pradhan said the two state-owned firms cannot indefinitely sit on resources when the nation is a net importer of oil and gas

Monetise reserves or get set for auction: Oil minister Pradhan to ONGC, OIL

Speaking at BNEF Summit on Tuesday, Pradhan said the two state-owned firms cannot indefinitely sit on resources when the nation is a net importer of oil and gas

Raising production, reviving existing fields can multiply gains for ONGC

Rising global oil and gas prices are already benefiting the oil major and its overseas subsidiary

Oil & Gas shares rally; ONGC, Gail surge up to 7%, hit 52-week highs

The recent rebound in crude oil prices has been driven by gradual recovery in global economy and thereby, improving demand for crude oil even as it remains below pre-Covid levels

ONGC Videsh makes fourth commercial oil find in its Colombian block

OVL is the operator in the block with a 70 per cent stake, along with its partner Geopark

12790 - 12730 a sacrosanct support zone for Nifty: Angel Broking

Although the overall trend has been strongly up, traders should still avoid aggressive bets

Fire at ONGC plant in Surat extinguished; no casualty, injury reported

The reason for the massive fire is being attributed to three consecutive blasts that took place at two terminals of the Hazira-based ONGC plant

ONGC June quarter profit dives 92% as oil, gas price slump to decade low

State-owned Oil and Natural Gas Corp (ONGC) on Tuesday reported 92 per cent slump in its June quarter net profit after oil prices halved and gas rates fell to a decade low. Standalone net profit of Rs 496 crore in April-June was 91.7 per cent lower than Rs 5,980 crore net profit a year back, the company said in a statement. The surprise profit came after the company delayed payment of cess on crude oil it produces. Initially, the company did not pay even royalty in anticipation of relief from the government to deal with a slump in oil prices. It cleared royalty payments at June-end but cess payments were done only in July. ONGC pays about Rs 400 crore of royalty and cess every quarter to the government. Revenues dipped 51 per cent to Rs 13,011 crore after a nationwide coronavirus lockdown impacted fuel demand. ONGC said it got USD 28.72 for every barrel of crude oil it sold in the quarter, down from USD 66.32 a barrel in the same period a year back. Gas price realisation fell 35

CBI lens on Videocon's Dhoot: Was Rovuma offshore a joy ride for oil firms?

Videocon's dealing with an SBI-led consortium being probed; complaint filed at instance of petroleum ministry which in 2013 under Veerappa Moily oversaw 10% of Videocon stake bought over by ONGC, OIL

Covid hits two of ONGC's most lucrative fields, 54 test positive, one dies

Stops operations at two rigs in Mumbai High and Bassein

ONGC, Oil India, Petronet LNG jump up to 7% amid steady rise in oil prices

Oil prices jumped on Monday to their highest in over two months.

OMCs gain as crude oil prices extend fall; HPCL, BPCL advance 1%

Upstream companies like ONGC and Oil India slipped up to 2 per cent on the BSE

Iran crude oil imports dips to 1.7 mt in FY20, down from 23.9 mt in FY19

This comes at a time of increasing imports from the US, which rose from 1.9 mt in 2017-18 to 6.2 mt in 2018-19. In H1FY20, India imported 5.4 mt from the US.