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ONGC capital spending not impacted by oil price: Moody’s
Posted on 17th May 2018
Defying a global trend, India’s flagship national oil company ONGC did not cut its capital spending on exploration and development after oil prices collapsed between 2014-16, Moody’s Investors Service said today. In a report, Moody’s said while ONGC did not reduce capital spending on oil and gas exploration and production, it halted the pace of its international expansion as a response to the oil price slumping from USD 140 per barrel to under USD 40.

Hydrocarbon block auction: Vedanta Cairn, ONGC bids help the government spare blushes
Posted on 3rd May 2018
Vedanta Cairn, operator of the prolific Barmer field in Rajasthan, bid aggressively, while eight other companies, including state-run ONGC, Oil India, Indian Oil and GAIL (India) also put in their bids for the 55 hydrocarbon blocks offered under the Open Acreage Licensing Policy (OALP), a critical part of the March 2016-launched Hydrocarbon Exploration Licensing Policy (HELP).

15 bidders likely in oil block auction; ONGC, Oil India may jointly bid
Posted on 2nd May 2018
The ongoing Open Acreage Licensing Policy round of oil and gas auctions is likely to be a battle between public sector undertakings and the Anil Agarwal-led Cairn India in many of the lucrative blocks.

According to sources close to the development, state-run Oil and Natural Gas Corporation (ONGC) and Oil India may even jointly bid for some blocks for which private parties have submitted expressions of interest (EoIs).


Cheer for ONGC investors: Higher oil and gas prices should drive earnings
Posted on 17th April 2018
The Oil and Natural Gas Corporation (ONGC) stock has significantly lagged the benchmark S&P BSE Sensex over the past year, even as prices of crude oil, its mainstay, have rallied (see chart). There has been some catching up in the past week, led by improving prospects in the business. If the trend sustains, which seems likely, ONGC’s investors could see good returns.

ONGC Petro Additions may raise Rs492 crore through CCD
Posted on 6th April 2018
Mumbai: ONGC Petro Additions Ltd (OPAL) plans to raise Rs492 crore from Tata Mutual Fund and SBI Fund Management Pvt. Ltd through the sale of compulsorily convertible debentures (CCDs), two people aware of the development said.

Tata Mutual Fund will invest Rs292 crore while SBI Fund Management will invest Rs200 crore, the people mentioned above said on condition of anonymity.


ONGC counts gains from gas price hike
Posted on 7th April 2018
New Delhi: The hike in natural gas prices to a two-year high of $3.06 per million British thermal unit (mBtu) from April is likely to result in an additional revenue of Rs 1,500 crore for the state-owned explorer ONGC during the first half of this fiscal.

"Assuming natural gas sales volume of around 10 billion cubic meters for the first six months of 2018-19 for ONGC and its joint venture partners, ONGC's natural gas revenue will increase 23 per cent to Rs 8,000 crore for the six months between April 1 and September 30, 2018, from a reported Rs 6,500 crore the year before," Moody's said in its credit outlook.


Changed procurement conditions help Indian cos get biz from ONGC, Railways
Posted on 3rd April 2018
The government intervention for promoting Make in India in public procurement has resulted in garnering over Rs 50 billion benefits to Indian companies. The changed procurement conditions helped domestic companies to get business from the Railways, GAIL India and Oil and Natural Gas Corporation, among others.

ONGC, Oil India gain; BPCL, IOC, HPCL dip as oil hits six-week high
Posted on 22nd March 2018
Shares of oil exploration and production companies such as Oil and Natural Gas Corporation (ONGC), Oil India, Aban Offshore, Jindal Drilling & Industries, Hindustan Oil Exploration Deep Industries and Selan Exploration Technology Company have rallied by up to 16% on the BSE in intra-day trade after oil hit a six-week high on Wednesday.

Brent crude futures were up $1.73, or 2.6%, at $69.15 per barrel by 12:50 a.m. EDT (1650 GMT). Brent has risen by nearly 12% since hitting a two-month low of $61.77 in early February, the Reuters report suggested.


RIL, Essar Oil, ONGC, Torrent in race for CNG retailing permit
Posted on 19th March 2018
Mumbai: Reliance Industries Ltd (RIL), Essar Oil Ltd, Oil and Natural Gas Corp. Ltd (ONGC) and Torrent Power Ltd are among companies planning to bid for the ninth round of city gas distribution (CGD), two people aware of the matter said. The Petroleum and Natural Gas Regulatory Board (PNGRB) will offer compressed natural gas retailing licences in 100 cities shortly.

The Petroleum and Natural Gas Regulatory Board (PNGRB) will offer compressed natural gas retailing licences in 100 cities shortly.


Indian Oil, ONGC, Coal best performers in FY17; BSNL, Air India, MTNL worst
Posted on 13th March 2018
Indian Oil, ONGC and Coal India have emerged as the most profitable PSUs for 2016-17, whereas BSNL, Air India and MTNL incurred the highest losses, according to a government survey tabled in Parliament today.

The Public Enterprises Survey 2016-17, which mapped the performance of central public sector units, showed that the top ten loss-making state-owned firms accounted for a whopping 83.82 per cent of the total losses made by 82 loss-making CPSEs during the year.


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