ONGC paces up ahead of Q1 earnings; what to track
Posted on 2nd August 2018 |
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NEW DELHI: ONGC stock advanced 1 per cent on Thursday ahead of its first quarter results later in the day. Oil subsidy expectations, management guidance on oil and gas production over FY19 and FY20 and earnings and production outlook of OVL, ONGC's subsidiary, for FY19 will be keenly watched. |
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After ONGC-HPCL, government mulls NHPC stake sale to NTPC for Rs 18,200 crore in another cross PSU merger
Posted on 25th July 2018 |
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India’s ministries of finance and power are discussing a plan to sell government’s stake in hydro-power producer NHPC Ltd. to its state-run peer NTPC Ltd., the nation’s biggest electricity generator by capacity, according to people familiar with the matter. The government’s 73.67 percent stake in NHPC is worth about 182 billion rupees ($2.6 billion) as per current prices, according to Bloomberg calculations. |
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Capex Plan: ONGC spared buyback obligation
Posted on 20th July 2018 |
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The government has exempted state-owned explorer ONGC from the twin obligations of buying back its own shares and issuing bonus shares in the current fiscal, a move that would help the upstream hydrocarbon to not cut back on its capex plan of Rs 32,000 crore for the year. |
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Pawan Hans disinvestment inches ahead, ONGC board approves 49% stake sale
Posted on 18th July 2018 |
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The board of ONGC has approved exiting helicopter service provider Pawan Hans by selling its entire 49 per cent stake as it looks to cut debt and consolidate resources in core oil and gas business, officials with direct knowledge of the development said. Oil and Natural Gas Corp (ONGC) wants its interest to be clubbed with the 51 per cent government stake that is already on offer for sale, they said. |
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ONGC’s natural gas segment to do well as gas prices rise
Posted on 22nd June 2018 |
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India’s LNG imports were flat m/m in May but rose 17% y/y, boding well for PLNG where Dahej unit was also steady at ~110% in April/May. We keep our BUY as we do on Gail where earnings risks appear skewed on the upside even if trans. volumes do rise materially NT and valuations are inexpensive. Expectations are modest for ONGC too where higher oil and gas prices would lift earnings in FY19E even if subsidies cap realizations in domestic oil assets and HPCL. |
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Floods submerge ONGC sites in Tripura
Posted on 13th June 2018 |
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Incessant monsoon rains weredisrupting operations of the Oil and Natural Gas Commission (ONGC) in Tripura. Rain triggered floods submerged its drilling sites especially in northern part of the State. Tripura Asset of the ONGC on Tuesday confirmed that its operational activities were severely affected due to rains. |
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ONGC’s funds drop 90% in one year; this is why cash reserves shrunk
Posted on 11th June 2018 |
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India’s Oil and Natural Gas Corp., which once had $4.3 billion of funds, is now bleeding cash. The state-run company’s cash reserves have shrunk by more than 90 percent in the past year, after it was ordered to purchase the administration’s stake in a refiner and it paid a record dividend. ONGC’s reserves dropped to about 10 billion rupees ($148 million) as on March 31 from nearly 130 billion rupees a year earlier, according to data compiled by Bloomberg. |
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ONGC LOGS RS 4,000 CR LOSS ON GAS PRODUCTION
Posted on 4th June 2018 |
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State-owned Oil and Natural Gas Corp (ONGC) logged a Rs 4,000 crore loss on natural gas output in the fiscal year ended March 31, 2018 as the Government mandated price for the fuel was less than the cost of production. “We need at least $4 per million British thermal unit to break-even as compared to current gas price of $3.06 per mmBtu,” a senior company official said. |
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IOC MOST PROFITABLE PSU FOR 2ND YEAR IN A ROW; DISPLACES ONGC
Posted on 1st June 2018 |
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Fuel retailer IOC has for the second year in a row beaten ONGC to become India's most profitable State-owned company, raising questions over calls for the explorer to subsidise retailers amid soaring petrol and diesel rates. Indian Oil Corporation, which has for decades been India's biggest company by turnover, last week posted a record net profit of Rs 21,346 crore in the fiscal year ended March 31, 2018 (FY 2017-18), up 12 per cent from Rs 19,106 crore in the last fiscal. |
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