|Bid||0.00 x 0|
|Ask||0.00 x 0|
|Day's range||176.10 - 179.30|
|52-week range||155.30 - 212.90|
|PE ratio (TTM)||11.10|
|Forward dividend & yield||6.05 (3.39%)|
|1y target est||N/A|
India is poised to lift its domestic natural gas price to the highest in at least two years, boosting earnings of producers like Oil and Natural Gas Corp., according to a survey of analysts and industry ...
The Oil and Natural Gas Corp (ONGC) is set to hire international oil service giants for the first time to boost output from domestic oil fields in response to a government push to increase local supplies and cut expensive imports. ONGC, India's biggest explorer, has shortlisted U.S. oil service companies Halliburton, Schlumberger and GE subsidiary Baker Hughes to submit proposals on boosting production from two onshore fields, according to a document seen by Reuters. The three companies have until May to submit their proposals for what ONGC is calling a "production enhancement contract" for an oilfield in Assam and another in Gujarat.
ABU DHABI/DUBAI (Reuters) - A consortium led by India's Oil and Natural Gas Corp (ONGC) has become the first group to win a stake in Abu Dhabi National Oil Co's (ADNOC) 40-year offshore oil concession, a deal set to help the UAE expand its foothold in Asia. State-run ADNOC signed an agreement on Saturday with the ONGC Videsh-led consortium giving the group a 10 percent stake in the new Lower Zakum offshore concession, with a participation fee of 2.2 billion dirhams ($600 million), ADNOC said in a statement, confirming a report by Reuters.
ABU DHABI/DUBAI (Reuters) - A consortium led by India's Oil and Natural Gas Corp (ONGC) will sign a contract on Saturday to acquire a stake in Abu Dhabi National Oil Company (ADNOC)'s offshore oil concession, sources familiar with the matter said. The group headed by ONGC will be the first party to secure a stake in the offshore concession.
New Delhi, Feb 9 (IANS) State-run explorer Oil and Natural Gas Corp (ONGC) on Friday posted a 15 per cent rise in net profit at Rs 5,014.67 crore for the third quarter ending December buoyed by higher realisations. ONGC had posted a profit after tax of Rs 4,352.33 crore in the corresponding quarter a year ago, the company said in a statement here. Higher crude prices meant ONGC got $60.58 for every barrel of oil produced during the quarter in consideration as against $51.80 in the period of the last fiscal.
India's top explorer Oil and Natural Gas Corp Ltd reported a 15 percent rise in third-quarter profit on Friday, but missed analysts' expectations. Standalone net profit rose to 50.15 billion rupees in ...
New Delhi, Feb 8 (IANS) The government has approved inviting bids to develop 60 more discovered oil and gas fields under the second round of the Discovered Small Fields (DSF) auction this year, Petroleum Minister Dharmendra Pradhan announced on Thursday. The Cabinet on Wednesday approved the auction to be held under the DSF second round in order to speedily into production these fields estimated to hold reserves of 195 million tonnes (MT) of oil and oil equivalent gas. "DSF II is a replica of DSF I," Pradhan told reporters here.
India's top explorer Oil and Natural Gas Corp has secured a $2.83 billion loan from three banks to part fund its $5.8 billion acquisition of state-refiner Hindustan Petroleum Corp, ONGC said on Tuesday. ...
Shares of Oil and Natural Gas Corp Ltd jumped as much as 6.3 percent on Monday after the explorer said it would buy a majority stake in refiner Hindustan Petroleum Corp Ltd for a smaller premium than expected. The gains, which took ONGC's shares to their highest in nearly one year, came after India's biggest explorer said on Saturday it would pay 369 billion rupees ($5.77 billion) for a 51.1 percent stake in HPCL from the government at 473.97 rupees per share. HPCL shares, however, fell as much as 4.3 percent as the premium paid was only about 14 percent higher than Friday's closing price, smaller than expected.
India's biggest explorer Oil and Natural Gas Corp (ONGC) has agreed to buy the government's majority stake in state-refiner Hindustan Petroleum Corp for 369 billion rupees ($5.78 billion), ONGC said on Saturday. It will pay a premium of about 14 percent on HPCL's current market price for the 51.1 percent stake, the company said in a statement to the stock exchange. The deal is part of the government's objective to combine various public sector enterprises "to give them the capacity to bear higher risks" and create more value for shareholders, ONGC said.
New Delhi, Jan 20 (IANS) State-run Oil and Natural Gas Corporation Ltd (ONGC) will acquire the government's 51.11 per cent equity share-holding in Hindustan Petroleum Corporation Ltd (HPCL) at a consideration of Rs 36,915 crore. Through the single share sale, the Centre would be able to meet half of its disinvestment target of Rs 72,500 crore for 2017-18. "The Government of India has entered into an agreement with ONGC today (Saturday) for strategic sale of its 51.11 per cent equity share-holding in HPCL at a consideration of Rs 36,915 crore," a statement said.
New Delhi, Jan 1 (IANS) State-run explorer Oil and Natural Gas Corp (ONGC) has made large oil and gas discoveries to the west of its Mumbai High fields in the western offshore, Parliament was informed on Monday. In a written reply to the Lok Sabha, Petroleum Minister Dharmendra Pradhan said ONGC made the discoveies in the well WO-24-3 (WO-24-C) drilled west of Mumbai High fields. "The 9th object on testing flowed oil at the rate of 3,310 barrels per day and gas at the rate of 17,071 cubic meter per day," he said.
India's ONGC Videsh has turned its focus to buying stakes in overseas producing oil and gas assets to meet output targets after a delay by Iran in awarding development rights for a gas field, its managing director said on Thursday. Indian firms led by ONGC Videsh, the foreign investment arm of Oil and Natural Gas Corp, have been negotiating with Iran for development rights of Farzad B gas field since its discovery in 2008.
New Delhi, Oct 28 (IANS) State-run Oil and Natural Gas Corporation (ONGC) on Saturday reported a 3.1 per cent increase in its net profit to Rs 5,131 crore in the quarter ended September 30, 2017 as compared to Rs 4,975 crore in the year-ago period. Its gross revenue, in the quarter under review, was at Rs 18,966 crore, up by 3.1 per cent from Rs 18,395 crore in the year-ago period. ONGC has notified 9 discoveries so far in the current fiscal, out of which four discoveries have been made very recently.
The latest discovery of India's largest oil explorer, Oil and Natural Gas Corp, to the west of its Mumbai High offshore fields is estimated to hold in-place reserves of about 20 million tonnes, sources with knowledge of the matter said. The Mumbai High field annually produces oil and natural gas of about 9 million to 10 million tonnes of oil equivalent. The company discovered hydrocarbon reserves west of Mumbai High at well WO 24-3 in July.
India's state-owned Oil and Natural Gas Corp (ONGC.NS) said on Monday it wanted to raise 250 billion rupees ($3.9 billion) through debt to fund acquisitions and capital expenditure this financial year. ONGC's first debt issue in more than a decade would likely buy the government's 51.1-percent stake in refining and marketing company Hindustan Petroleum Corp Ltd (HPCL.NS), company officials and analysts said. New Delhi - which has about a dozen state-owned oil and gas companies with significant overlaps in operations - is trying to create a large integrated energy firm.
REUTERS - Oil and Natural Gas Corp Ltd, India's top explorer, said on Friday it has bought 80 percent participating interest and operatorship in one of the blocks of Gujarat State Petroleum Corporation ...
New Delhi, July 28 (IANS) State-run explorer Oil and Natural Gas Corp (ONGC) has received government approval for acquiring Gujarat State Petroleum Corp's (GSPC) entire 80 per cent stake in a Krishna Godavari ...
New Delhi, July 27 (IANS) State-run explorer Oil and Natural Gas Corp (ONGC) on Thursday posted an 8.2 per cent fall in net profit for the first quarter ended June at Rs 3,885 crore, as compared to the Rs 4,233 crore PAT reported in the same quarter of 2016-2017. ONGC said in a statement here that the fall in profit comes despite the increase in gross revenue over the corresponding quarter in the previous fiscal and lower expenses during the quarter in consideration. The company's gross revenue during the first quarter of the current fiscal of Rs 19,073 crore was a 7.2 per cent rise over the Rs 17,784 crore in the same period of fiscal 2016-2017.
India has decided to set up a panel headed by Finance Minister Arun Jaitley to expedite the sale of government's stake in refiner Hindustan Petroleum Corp (HPCL.NS) to explorer Oil and Natural Gas Corp (ONGC.NS), Oil Minister Dharmendra Pradhan said. The Indian cabinet last week decided to sell the government's 51.1 percent stake in refiner and fuel retailer HPCL to oil producer ONGC.
New Delhi, July 20 (IANS) The acquisition of the central government's majority stake in Hindustan Petroleum by state-run explorer ONGC is the more effective and smoother way of merging these two entities, which are in two different segments of the business, according to a concerned official here. The Union Cabinet on Wednesday gave its in-principle approval to the merger of state-run explorer Oil and Natural Gas Corp (ONGC) and oil marketer Hindustan Petroleum Corp Ltd (HPCL), official sources said here. The Cabinet approved the sale of the government's stake in HPCL to ONGC.
New Delhi, July 19 (IANS) The Union Cabinet on Wednesday gave its in-principle approval to the merger of oil marketer Hindustan Petroleum Corp Ltd (HPCL) with state-run explorer Oil and Natural Gas Corp. (ONGC), official sources here said. The cabinet approved the sale of the government's stake in HPCL to ONGC. Under the arrangement, the exploration giant will not have to make an open offer after buying the 51.11 per cent government stake in HPCL, the sources added.
Indian energy company ONGC Videsh will bid in an upcoming auction to explore and develop gas fields off the coast of Lebanon, India's oil minister said on Monday. ONGC Videsh, the overseas investment arm of India's top explorer Oil and Natural Gas Corp, is among several companies prequalified to bid for offshore exploration and production licences from the Middle Eastern nation. Indian oil minister Dharmendra Pradhan, leading a delegation at the World Petroleum Congress in Istanbul, made the comment in a Tweet after meeting with Lebanese Energy and Water Minister Cesar Abou Khalil.
NEW DELHI/CARACAS (Reuters) - Cash-hungry Venezuela has offered Indian oil company ONGC Videsh an increased stake in an oil field, according to two sources close to the proposal, as the country seeks to shore up its bruised energy industry and strengthen ties with New Delhi. State oil firm Petroleos de Venezuela SA (PDVSA) has proposed selling a 9 percent stake in the San Cristobal field to ONGC Videsh (OVL), a subsidiary of India's state-owned top explorer Oil and Natural Gas Corp (ONGC.NS), the sources said this week.
New Delhi, May 26 (IANS) State-run explorer Oil and Natural Gas Corp. (ONGC) on Friday reported a 6.1 per cent fall in net profit for the fourth quarter ended March at Rs 4,340 crore, as compared to the PAT of Rs 4,624.30 crore for the same period of 2016. ONGC's total income for the quarter in consideration, however, increased an impressive 29.24 per cent at Rs 26,233.56 crore on account of better revenue from operations, as compared to Rs 20,297.33 crore earned in the corresponding quarter of 2015-16. The company's total expenditure during the January-March quarter at Rs 20,696.46 crore also shot up 47.59 per cent, as compared to the expenses of Rs 14,022.15 crore in the fourth quarter of 2015-16.