| Oil and Natural Gas Corporation Limited (ONGC) Related news |
Cheer for ONGC investors: Higher oil and gas prices should drive earnings
Posted on 17th April 2018 |
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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. |
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ONGC Petro Additions may raise Rs492 crore through CCD
Posted on 6th April 2018 |
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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. |
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ONGC counts gains from gas price hike
Posted on 7th April 2018 |
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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. |
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Changed procurement conditions help Indian cos get biz from ONGC, Railways
Posted on 3rd April 2018 |
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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. |
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ONGC, Oil India gain; BPCL, IOC, HPCL dip as oil hits six-week high
Posted on 22nd March 2018 |
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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. |
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RIL, Essar Oil, ONGC, Torrent in race for CNG retailing permit
Posted on 19th March 2018 |
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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. |
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Indian Oil, ONGC, Coal best performers in FY17; BSNL, Air India, MTNL worst
Posted on 13th March 2018 |
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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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ONGC TO BAR KEY EXECUTIVES FROM FLYING TOGETHER IN CHOPPERS
Posted on 12th March 2018 |
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After losing key executives in a helicopter crash, state-owned Oil and Natural Gas Corp (ONGC) is veering around the idea of barring senior management from flying together in the same chopper. The company lost five key operational personnel when a Pawan Hans helicopter crashed in the Arabian Sea in January. |
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ONGC plan to fund HPCL buy
Posted on 10th March 2018 |
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New Delhi: ONGC Ltd is in talks with Saudi Aramco and Kuwait's Petrochemical Industries Company to sell its 26 per cent stake in ONGC-Petro Additions Ltd (OPaL) to repay the bank loan it has taken to fund the acquisition of refiner HPCL. The state-owned explorer had been keen to induct a strategic partner in OPaL. |
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‘Buy’ on ONGC, Oil India; prefer IOCL to BPCL/HPCL
Posted on 9th March 2018 |
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ONGC, Oil India and BPCL’s Area-1 project moved a step forward this week although FID may still be months away. Even so, with start-up only in 2023E, any earnings uplift is years away with development spend likely to weigh on cashflow in the interim with Oil India, BPCL more vulnerable to downside surprises than ONGC. Nonetheless, with valuations inexpensive we keep our ‘Buy’ on ONGC, Oil India preferring IOCL to BPCL/HPCL in downstream SOEs. |
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