Page 4 - Oil India

Oil India Q4 net up 9.7% to Rs 1,789 cr; sees double-digit revenue growth

Sequentially, the company's quarterly net profit rose 2.4%. In the previous quarter, profit after tax had stood at Rs 1,746.10 crore

ONGC, Oil India in talks for 50% stake in $3.4 billion Kenya oilfield

India's flagship overseas oil firm ONGC Videsh has got a new partner in Oil India Ltd to replace a reluctant IndianOil (IOC) for the potential acquisition of a 50 per cent stake in Tullow Oil Plc's USD 3.4 billion oilfield project in Kenya, according to people with knowledge of the matter. But the OVL-OIL duo now faces competition from super-aggressive Chinese energy giant Sinopec which has entered the fray taking advantage of the delay on the Indian part in finalising the deal. Originally, ONGC Videsh, the overseas arm of state-owned Oil and Natural Gas Corporation (ONGC), was interested in buying out half of the stakes that Tullow, Africa Oil Corp and TotalEnergies SE held in the Lokichar oilfield in Kenya. The board of OVL had approved the deal, sources said adding the firm however wanted to bring on board IOC, which too had shown interest in the project. For months, OVL-IOC negotiated the stake in the project. But the transaction couldn't be completed as IOC started having seco

ONGC gains 3%, nears 52-week high as govt slashes windfall tax on crude oil

Technical analysts at ICICI Securities expect the stock to maintain positive bias and head towards Rs 171 levels in the coming sessions

OIL, AGCL to form joint-venture for piped natural gas distribution

The Assam Gas Company Limited (AGCL) and Oil India Limited (OIL) on Saturday signed an agreement for the establishment of a joint venture company to lay, build and operate city natural gas distribution networks in parts of Assam and Tripura. The agreement was signed between the two sides at a ceremony here in the presence of Assam Chief Minister Himanta Biswa Sarma, an official statement said. The Assam government-owned AGCL will have 51 per cent stake, while the OIL will hold the remaining 49 per cent share in the joint venture company. It will build local natural gas grids and provide piped natural gas to domestic and commercial establishments in Lakhimpur, Dhemaji, Darrang, Udalguri, Sonitpur and Biswanath Chariali in Assam, and a few districts of Tripura. The company will also set up numerous compressed natural gas (CNG) stations, the statement said. Speaking at the event, Sarma said the signing of the agreement between AGCL and OIL would provide a major thrust to the ongoing

HP govt signs MoU with Oil India to develop new renewable energy sources

"We clarify that fresh ECs will have to be obtained even by the successful bidders...," the high court said in its order

Stocks to Watch: SBI, ICICI Lombard, ONGC, Reliance, Oil India, Zydus Life

Stocks to Watch: ICICI Lombard General Insurance reported a 39.6 per cent surge in net profit in the January-March quarter (Q4) of FY23

Oil & Gas shares in focus: MGL hits 52-week high; ONGC, IGL jump up to 3%

The Government of India has accepted several key recommendations made by the Kirit Parikh Committee with respect to the pricing of natural gas produced from the APM fields.

ONGC, Oil India surge up to 6% as oil prices rise post OPEC+ output cut

Sustained higher crude oil prices and gas realisations can result in better profitability for upstream oil and gas companies, analysts said

ONGC, Oil India gain 3%; hit over 8-month highs

In past one month, Oil India has rallied 23%, while, ONGC surged 11%, as compared to 0.33 per cent decline in the S&P BSE Sensex.

Oil India, ONGC gain up to 4% on improved earnings outlook

Sustained higher crude oil prices and gas realisations can result in better profitability for upstream companies, say analysts.

Good upside seen in Oil India stock; most analysts are positive

And their price and fair valuation targets range between Rs 275 and Rs 290

Shares of ONGC, Oil India fire up as govt slashes windfall tax sharply

The reduction of windfall tax will reduce cess of domestic oil production companies like ONGC and Oil India.

Oil India hits 8-month high on highest-ever quarterly profit in Q3FY23

In the past six months, Oil India soared 26 per cent, as against 3 per cent rise in the S&P BSE Sensex

Oil India reports highest-ever quarterly profit of Rs 1,746 cr in Q3

State-owned Oil India Ltd (OIL) reported its highest ever quarterly net profit in the third quarter ended December 31 on the back of a rise in oil and natural gas prices. Net profit of Rs 1,746.10 crore, or Rs 16.10 per share, in October-December compared with Rs 1,244.90 crore, or Rs 11.48 a share, in the same period a year back, the company said in a statement. The rise in profitability was helped by higher realisation on crude oil and gas the firm produces and sells. Also, output increased, helping both topline and bottomline. OIL earned USD 88.33 for every barrel of crude oil it produced and sold in the third quarter of the current fiscal, up from USD 78.59 a barrel realisation in the year-ago period. Crude oil is refined at refineries to produce fuels such as petrol and diesel. Prices of natural gas, which is used as fuel to produce electricity, make fertilizers and converted into CNG for use in automobiles, rose to USD 8.57 per million British thermal unit from USD 6.10. Th

India's decarbonisation efforts lauded at Energy Week: Oil India CMD

De-carbonisation via electric vehicles and hydrogen is among the four verticals in India's strategy for the energy sector, he said

Rs 6,200 crore investment in the petroleum sector in Rajasthan

Rajasthan Additional Chief Secretary (Mines and Petroleum) Subodh Agarwal said four companies in the petroleum sector had signed agreements on investment during "Invest Rajasthan"

ONGC, Oil India hits over 5-month high after govt slashes windfall tax

On Friday, the Union government slashed the windfall tax on domestically produced crude oil and diesel effective December 16, 2022

Stocks to Watch: ONGC, Oil India, Hatsun Agro, Inox Green, Indus Towers

Stocks to Watch Today: SBI too may be in focus after the PSU bank successfully raised Rs 10,000 crore via its maiden infrastructure bonds.

Kirit Parekh panel recommends 20% premium for gas production by ONGC, OIL

The Kirit Parikh Committee, which recommended a floor and ceiling price for natural gas produced from legacy fields of state-owned producers to moderate input price for CNG and fertilizer, has favoured paying ONGC and OIL a premium of 20 per cent over such price for any new gas production they add from old fields. The panel, which submitted its report to the oil ministry last week, has recommended benchmarking price of natural gas produced from ONGC and OIL's legacy or old fields, called APM gas, at 10 per cent of cost of crude oil imported into India, according to a copy of the report seen by PTI. This rate would however be subject to a ceiling or cap price of USD 6.5 per million British thermal unit, until a full deregulation of prices is implemented in 2027. There would also be a floor of USD 4 with a view to cover for cost of production and at the same time keeping cost for fertilizer, power and CNG, which use gas as input raw material, at manageable levels. The basket of crude

Sensex snaps 8-day winning run, ends 415 pts lower; IT, Auto stocks weigh

CLOSING BELL: The NSE Nifty shut shop at 18,696, down 117 points. Broader indices - BSE Midcap and Smallcap bucked the trend, and were up 0.8 per cent and 0.7 per cent, respectively, on Friday.