|Bid||0.00 x 0|
|Ask||181.00 x 0|
|Day's range||180.40 - 182.60|
|52-week range||155.20 - 211.80|
|PE ratio (TTM)||11.33|
|Forward dividend & yield||N/A (N/A)|
|1y target est||210.24|
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.
The overseas arm of Oil and Natural Gas Corp (ONGC.NS) has submitted a revised plan to develop the giant Farzad B gas block in Iran, including a commitment to spend more than $3 billion, a senior executive said on Tuesday. ONGC Videsh (ONVI.BO) expects to produce between 1 billion and 1.6 billion cubic feet per day of gas in five years from the start of development of the block, N. K. Verma, the company's managing director told Reuters in Mumbai on Tuesday. India is the second-largest buyer of Iranian crude, and was among the few countries to continue trade with Iran while the country faced Western sanctions over its nuclear programme.
India approved a policy on Wednesday allowing extra time to contractors of old blocks to unlock oil and gas reserves of more than 426 million barrels, worth over $21 billion, as it seeks to cut its dependence on imports. The policy approved by the Cabinet will help companies including Cairn India and Oil and Natural Gas Corp that are exploring blocks awarded before 1999. Prime Minister Narendra Modi's Bharatiya Janata Party has been taking steps to boost local oil and gas output, which had been almost stagnant for decades.