|Bid||0.00 x 0|
|Ask||0.00 x 0|
|Day's range||158.25 - 163.70|
|52-week range||155.15 - 212.85|
|PE ratio (TTM)||9.27|
|Forward dividend & yield||6.05 (3.66%)|
|1y target est||224.59|
India’s top oil exporter has seen its cash reserves crash by more than 90 percent in the last year, a result of the company paying a record high dividend and acquiring a refiner as it aims to expand
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 largest shareholder, Prime Minister Narendra Modi’s government, has been tapping state-run companies including India’s biggest energy explorer to bridge its fiscal deficit.
Venezuela's state oil company PDVSA has halted payment to India's ONGC Videsh Ltd (OVL), Managing Director N K Verma said on Thursday, a move that could threaten the future financing of the San Cristobal energy project in the sanctions-hit South American nation. OVL, the overseas investment arm of India's top explorer, Oil and Natural Gas Corp, holds a 40 percent stake in San Cristobal, where production has fallen to about 18,000 bpd. ONGC had agreed to arrange financing of $300 million for the project to stop the output decline, Verma said.
India's top explorer Oil and Natural Gas Corp posted a 36 percent rise in fourth-quarter profit on Wednesday, but missed analysts' expectations. Standalone profit, which does not include the financials ...
India's top explorer Oil and Natural Gas Corp has awarded its first mini-term tender to sell Brazil's heavy crude oil Ostra in June-November to Shell, three sources familiar with the matter said. ONGC ...
Following is a list of deals and memoranda of understanding(MoU) that Iran has signed with foreign companies, which could be under threat amid speculation Washington may impose secondary sanctions on firms that continue to work with Tehran. The company had signed the South Pars deal in November 2016, becoming the first oil major to agree a big transaction with Tehran in the wake of the 2015 international nuclear agreement. Industry sources said in October 2017 that China's top oil and gas company CNPC would consider taking over Total's stake in the project if the French company left.
Saudi Basic Industries Corp (SABIC), the world's No.4 petrochemical company, wants to buy about half of the $4.6-billion Indian petchem project backed by Oil and Natural Gas Corp (ONGC), two sources familiar with the matter said. ONGC is a majority shareholder in ONGC Petro Additions Ltd (OPaL), which operates India's biggest petrochemical plant in western Gujarat state. "They (SABIC} want to have a significant stake in OPaL, around 50 percent," said one of the sources.
India's top explorer Oil and Natural Gas Corp on Friday floated a mini tender to sell Brazil's heavy oil Ostra in June-November, a tender document showed on Friday. The tender will close on May 15 with ...
ONGC aims to drill 535 oil and gas wells in this fiscal year to March 2019, compared with 503 well drilled in the previous year, the company said in a statement. India, which imports about 80 percent of its oil needs, wants to quickly monetise its oil and gas reserves and has been nudging its state explorers to boost oil and gas production.
Abu Dhabi National Oil Company (ADNOC) said on Sunday it had signed a 40-year agreement with OMV, awarding the Austrian oil and gas group a 20 percent stake in Abu Dhabi’s SARB and Umm Lulu offshore oil concession. OMV contributed a participation fee of 5.5 billion dirhams($1.5 billion) to enter the concession, ADNOC said in a statement, adding that it would retain a majority 60 percent stake in the offshore concession. The signing ceremony was attended by Abu Dhabi Crown Prince Sheikh Mohammed bin Zayed al-Nahyan and Austrian Chancellor Sebastian Kurz, who is on an official visit to the United Arab Emirates.
The foreign acquisition unit of Oil and Natural Gas Corp's (ONGC) has filed an arbitration claim against the government of Sudan in a London court, a company official said, seeking to recover dues pending for years from a project hit by the breakaway of South Sudan in 2011. People familiar with the matter in India and Sudan said ONGC had filed a claim for $98.94 million, in what they said was a first for the South Asian nation's top oil and gas explorer against any government. At the centre of the dispute is ONGC's 25 percent stake the company acquired in the Greater Nile Oil Project (GNOP) in Sudan in 2003.
India's Petronet LNG Ltd wants to partner with ONGC Videsh Ltd (OVL), the overseas arm of India's biggest explorer Oil and Natural Gas Corp Ltd, to pick up a stake in an upcoming exploration and liquefied natural gas (LNG) project in Qatar, a company official said. The project would be Petronet's maiden venture into the natural gas exploration and production business and overseas LNG terminals. "We will be signing a non-confidentiality agreement with QatarGas in the next one week or so, and then evaluate the project," Prabhat Singh, managing director and chief executive officer of Petronet told Reuters at the International Energy Forum on Wednesday.
India's Oil and Natural Gas Corp Ltd and Reliance Industries Ltd have started discussions with buyers to sell natural gas from their fields in the Bay of Bengal that are expected to start production over the next three years. The plan is to transport the gas from the east coast to the industrial heart belt of western India, an ONGC executive told Reuters. "We want to use the pipeline to reach customers in West India to sell gas from the KG basin.
India is set to offer a $3-4 billion development plan for the Farzad B gas field to Iran next week after Tehran reduced the scope of the project, two sources familiar with the matter said. Relations between the two countries, which have long held deep trade ties, were strained last year after Iran sought other investors for the field and media reports suggested Tehran would award it to Russia's Gazprom. In retaliation, India directed its state refiners to cut oil imports from Iran.
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.