Page 2 - Oil & Natural Gas Corpn Ltd News

5 stocks to buy and sell as crude oil prices drop to $70 a barrel

Here's a technical outlook on stocks linked to crude oil prices, which is down 23% from its peak and trades near 3-year lows. Among stocks, Asian Paints and MRF look favourable on charts; here's why.

F&O Insights: Nifty pivot at 25,000; India VIX hints bullish bias building

Derivatives market update for Sept 12: Among individual stocks, Page Industries saw long buildup, while Aarti Industries and Tata Motors saw positions added on the short side of trade.

Oil India, ONGC dip up to 6% as crude oil prices fall on demand concerns

While upstream earnings are currently impacted, with the OPEC+ delaying its planned rise in production, analysts at Prabhudas Lilladher expect oil prices to rebound to $75-80 per barrel soon.

ONGC Videsh in talks with Russia, US to regain control of projects

Sought special licence from US for Venezuela operations, rouble payments to Russia for Sakhalin

ONGC shares climb 3%; Here's what is driving this Maharatna's stock?

BSE analytics reflect that ONGC shares have outperformed the benchmark S&P BSE Sensex with a rally of 59.76 per cent year-to-date, against the latter's 13.10 per cent

ONGC opens well in Bay of Bengal's KG basin to increase oil production

State-owned Oil and Natural Gas Corporation (ONGC) on Sunday said it has opened another well on its flagship deep-sea project in Krishna Godavari basin in Bay of Bengal, which will help augment production of crude oil and natural gas. In January this year, ONGC had started producing oil, which is converted into fuels like petrol and diesel in refineries, from the KG-DWN-98/2 or KG-D5 block. "On August 24, 2024, ONGC marked a significant milestone by starting production from its fifth oil well in the Block KG-DWN-98/2 Cluster-2 asset," the firm said in a stock exchange filing on Sunday. "Leveraging the floating production, storage, and offloading (FPSO) vessel, ONGC has begun transporting and sale of associated gas, all the while underscoring its commitment to achieving zero gas flaring." It, however, did not state how much the new well was producing. With this, ONGC also successfully commissioned its gas export line from the offshore-to-onshore terminal. "Earlier in January, oil

Windfall tax boost: ONGC, Oil India surge up to 4% in Monday's trade

Analysts at JM Financial believe the strong pricing power of OPEC+ will continue to support Brent at ~$80/bbl, which is the fiscal break-even crude price for Saudi Arabia and a sweet spot for OIL/ONGC

ONGC, JSW, Sembcorp shortlisted for majority stake in $800 mn Ayana deal

Ayana Renewable Power, backed by NIIF manages a 5 GW portfolio of operational and under-construction projects. The company is open to sell up to 100% of its stake

ONGC and Oil India to price natural gas from new wells at 20% premium

Gas produced from new wells in ONGC and Oil India's nominated fields will benefit from a premium equivalent to 12% of the Indian crude basket price

Govt approves 20% premium for natural gas from new wells for ONGC

The government has approved a 20 per cent premium over the regulated or APM price for any natural gas that ONGC will produce from new wells, the company said on Monday. Currently, two pricing regimes govern the majority of the domestic production of natural gas, which is used to generate electricity, produce fertiliser, turn into CNG for running automobiles and piped to households for cooking. Gas produced from legacy or fields given to state-owned Oil and Natural Gas Corporation (ONGC) and Oil India Ltd, on nomination basis, is priced at 10 per cent of the prevailing price of crude oil that India imports. This price, subject to a cap price of USD 6.5 per million British thermal units, is called regulated or APM price. So, at the current Indian basket price of USD 77 per barrel, the APM price for gas produced from ONGC's Mumbai High and Bassein fields in the western offshore should come to USD 7.7 per mmBtu, but it is paid the cap price of USD 6.5. Gas produced from difficult field

Oil India rallies 7%, hits record high post Q1 results; ONGC surges 4%

Analysts at JM Financial Institutional Securities have maintained their 'Buy' rating on Oil India with a revised target price of Rs 700 per share as risk-reward is still reasonable

ONGC rallies 8% on upbeat volume guidance; Oil India surges 9%

ONGC management expects total crude oil/gas production volume (incl. JV) to rise by 12 per cent/27 per cent to 23.1mmt/25.9mmt by FY27, mainly driven by KG-98/2 and Daman upside development.

ONGC Q1 FY25 results: Net profit declines 32.1% to Rs 9,936 crore

While production was marginally down, higher cost of materials, cost write offs swelled expenses

ONGC Q1 FY25 results: Net profit declines 15% to Rs 8,938.10 crore

India's largest crude oil and natural gas producer wrote off Rs 1,669.73 crore cost incurred in unsuccessful survey and drilling of wells to find oil and gas

ONGC to intensify gas production in Tripura to feed power plants: Official

Oil and Natural Gas Corporation (ONGC) has intensified operations to increase gas production in Tripura to feed power generation plants in the northeastern state, an official said on Monday. The decision comes amid reports of a reduction in gas supply to various gas-based power generation plants in the state. ONGC produced 1,527 million standard cubic metres (MMSCM) of gas in Tripura in the 2023-24 fiscal, while it has set a target of extracting 1,675 MMSCM gas in the current fiscal. "ONGC has been working to increase gas production so that sufficient gas is supplied to the gas-based power plants in Tripura. We have already set a target of extracting 1,675 MMSCM of gas during the current fiscal year (2024-25) while the production was 1,527 MMSCM in 2023-24," ONGC's Tripura Asset Manager Krishna Kumar told PTI. He said that ONGC will dig as many as 20 new wells for gas exploration in the financial year 2024-25 and one more rig will be added shortly to boost the exploration drive. At

Nifty hits 25,000: Next 5,000-pt rally could be led by banks, IT, autos

Devarsh Vakil, Deputy Head of Retail Research, HDFC Securities suggests that for the Nifty50 index to move up from the current levels, bank and IT sectors need to perform and do the heavy lifting

ONGC surges 5%, hits new high; Oil India soars 8% in weak market; know why

ONGC inform that the company has plans to open another well and flow gas to onshore terminal next month through the newly laid subsea gas pipeline

ONGC acquires Equior stake in Azerbaijan oilfields for $60 million

ONGC Videsh Ltd, the overseas investment arm of state-owned Oil and Natural Gas Corporation (ONGC), has acquired Norwegian firm Equinor's stake in an Azerbaijan oilfield and an associated pipeline for USD 60 million, the firm said in a statement. OVL "has signed a definitive sale purchase agreement (SPA) for directly acquiring 0.615 per cent participating interest (PI) in offshore Azeri Chirag Gunashli (ACG) oil field in Azerbaijan from Equinor. The agreement also includes acquiring 0.737 per cent shares of the Baku Tbilisi Ceyhan (BTC) pipeline company through its wholly-owned subsidiary ONGC BTC Limited," it added. The acquisitions, expected to be completed in the upcoming months, involve a total investment of up to USD 60 million. OVL currently has a 2.31 per cent stake in the ACG field and 2.36 per cent in the BTC pipeline. The buyout of Equinor will help raise its stake. Equinor, in December last year, announced an agreement to sell all its remaining assets in Azerbaijan to SO

ONGC Videsh to pay Equinor $60 million for stake in Caspian Sea oil assets

OVL, overseas investment arm of India's top explorer, will buy 0.615% stake in the oilfield and a 0.737% share in Baku Tbilisi Ceyhan (BTC) pipeline from Equinor, it said in stock exchange filing

ONGC hits 52-week high on commencing production of Coal Bed Methane block

The uptick in stock price came after the company announced that it has commenced production from Coal Bed Methane Block (CBM) in Bokaro, Jharkhand.