Page 32 - Ongc

ONGC to hire i-bankers for HPCL acquisition

State-owned Oil and Natural Gas Corp (ONGC) will hire investment bankers to assist it in acquiring government's 51.11 per cent stake in Hindustan Petroleum Corp Ltd (HPCL). The investment or merchant banker to be hired will be separate from the one the government is hiring to manage its disinvestment, a senior official said here. The board of ONGC yesterday gave 'in principle approval' for acquisition of the government stake in HPCL, which at today trading price is worth about Rs 34,800 crore. He said a six-member Committee of Directors has been constituted to examine various aspects of the acquisition and to provide its recommendations to the board. The panel includes Chairman and Managing Director Dinesh K Sarraf and Director (Finance) A K Srinivasan as also independent directors K M Padmanabhan, Sumit Bose and Vivek Mallya. Director (Technology & Field Services) Shashi Shanker, who has been selected to succeed Sarraf as the chairman of ONGC at the end of September, will ..

ONGC buys 80% stake in GSPC's KG basin gas block

ONGC got govt nod for the purchase last month and has now made payments to complete the acquisition

ONGC buys 80% participating interest in GSPC block

GSPC will continue to hold 10% participating interest in the block

ONGC seeks market freedom to open India's 8th sedimentary basin

Prices have halved to $2.48 per mmBtu since the formula was implemented

ONGC Q1 standalone net drops 8% at Rs 3,885 cr

Revenue from the company's offshore operations rose 4.2%to Rs 13,068 cr in the quarter

This is a good time to develop existing discoveries, says ONGC CMD Sarraf

E&P companies need to learn not only to survive but also to grow in the low-price environment

Upstream firms need to learn how to grow with low oil prices: ONGC chairman

Oil and gas companies can benefit from taking a contrarian view, says ONGC's D K Sarraf

KG basin gas output: ONGC to use GSPC's undersea infra for some discoveries

ONGC plans to use undersea infrastructure of Gujarat firm to produce gas from its own KG-basin field

ONGC: Stock price fall an investment opportunity

A declining crude oil prices can hurt the prospects of state-owned Oil and Natural Gas Corporation (ONGC). Both domestic and international businesses of the exploration and production company (housed under ONGC Videsh) may see a drop in realisations if crude oil price, which had hit its nine-month low earlier this week, stays below $45 a barrel, analysts said."With every one-dollar fall in crude oil prices, ONGC's earnings will decline four to five per cent," said Sudeep Anand, oil & gas analyst at IDBI Capital. He expects the crude oil price to be around $52 a barrel this financial year and has not yet revised the FY18 earnings estimates of ONGC. Most analysts peg crude oil prices to be anywhere between $50 and $57 for FY18. Thus, if crude oil stays at the current level for long, there could be some earnings downgrade for ONGC. So far in 2017, crude oil price has fallen 19 per cent and averaged at $52.5 per barrel.However, ONGC's woes extend beyond weakening crude oil prices. For

ONGC plans up to Rs 65,000 cr investment for exploring KG-basin

State-run Oil and Natural Gas Corporation (ONGC) plans to invest up to $10 billion (Rs 65,000 crore) in its three allotted block in the Krishna-Godavari basin. The company has divided the deepwater block, KG-DWN-98/2, into clusters I, II and III. "For the three, we plan an overall investment of $9-10 bn. Cluster III will be the deepest in India, extending to about 2,600 metres," Tapas Kumar Sengupta, director (offshore) of ONGC, told this newspaper.The company has invited a formal Expression of Interest (EoI) from international consultants and service providers for developing Cluster-III. "We have already submitted a Declaration of Commerciality with the Directorate General of Hydrocarbons (DGH) for Cluster III development. Currently, there are only 10 (petro) fields in the world ar such depth," he added.About 19 million standard cubic metres a day (mscmd) of gas is expected in this area, where ONGC is planning to drill at least nine wells. The company is to come up with a field ...

ONGC bats for deregulation of gas market for prosperity of industry

Wants to put a cap on minimum price at $4.2 per mBtu in order to make most of its fields viable

Attractive valuation, improving prospects turn analysts positive on ONGC

Rising gas and oil production as well as bottoming out of gas prices are key positives

ONGC up 3% on heavy volumes

ONGC made 23 oil and gas discoveries in the fiscal year ended March 31, report.

ONGC discovers more than 20 oil, gas sites in FY17

Oil discoveries declined to 2.4 bn barrels in 2016

ONGC sees its gas output hitting 5-year high in FY18, sources say

India prices gas almost 60% below imported natural gas to bring down cost of running stranded plants

ONGC Videsh submits revised plan for Farzad B gas field in Iran

ONGC Videsh expects to produce between 1 bn and 1.6 bn cubic feet per day of gas in five years

Experts bat for tie-ups as ONGC takes over operations of K-G

Experts have called for the company to engage strategic partners to monetise the asset

ONGC seeks natural gas price review; wants floor rate fixed at $4.2

The new formula provides for revising rates every six months - on April 1 and October 1

ONGC signs pact to buy out GSPC's KG block stake for $1.2 bn

GSPC has so far made 9 gas discoveries in the Bay of Bengal block

Parliamentary panel examining ONGC gas flowing into RIL fields

11.122 bcm of ONGC gas migrated from its Godavari-PML, KG-DWN-98/2 blocks to adjoining KG-D6 of RIL