ONGC gas output jumps 6.5% to record high in FY19
6 years ago

ONGC gas output jumps 6.5% to record high in FY19

Live Mint  

New Delhi: Reversing years of decline, state-owned Oil and Natural Gas Corp has reported a record 6.5 per cent jump in natural gas production to 25.9 billion cubic meters in the fiscal year ended March 31, 2019, as it doubles up efforts to raise domestic output to curb imports. Natural gas production from ONGC-operated nomination fields, NELP blocks and joint venture assets reached 25.819 BCM in 2018-19 as compared to 24.61 BCM output in the previous fiscal, ONGC Chairman and Managing Director Shashi Shanker said here. During 2018-19, the company has, for the first time in its six-decade-old history, witnessed the highest ever gas production of 71 million standard cubic meters per day in November 2018. The growth in output was largely contributed by C-26 Cluster fields, Daman and Vasai East fields in the western offshore as well as sub-sea well S2AB in the eastern offshore, he said adding ONGC has charted out a plan to double the gas production at 42.7 BCM by 2021-22.

Natural Gas Production Project Fields Shanker Ongc Bcm Daman Gas Output  jumps  bcm  high  65  record  fields  mmscmd  fy19  gas  output  production  project  offshore  cent  ongc

History of this topic

ONGC share price declines 3% post Q3 results & ahead of Nirmala Sitharaman’s budget 2025: Do you own?
2 months ago

ONGC share price declines 3% post Q3 results & ahead of Nirmala Sitharaman’s budget 2025: Do you own?

Live Mint  

Stock Market today: Oil and Natural Gas Corporation share price declined more than 3% in the morning trades on Saturday post Q3 results & ahead of Nirmala Sitharaman's budget 2025 ONGC share price opened at ₹260 on the BSE on Saturday, slightly lower than the previous close of ₹262.50. The ONGC share price thereafter dipped to intraday lows of ₹253.80, …

ONGC Q3 Results: Net profit falls 17% to ₹8,240 crore, dividend declared
2 months ago

ONGC Q3 Results: Net profit falls 17% to ₹8,240 crore, dividend declared

Live Mint  

State-owned Oil and Natural Gas Corporation on Friday reported a 16.7 per cent drop in its third-quarter net profit as it realised lower rates for crude oil it produces. The standalone crude oil production during Q3 FY 25 was 4.653 million tonnes, registering a growth of 2.2 per cent over corresponding quarter of FY 24," ONGC said. Similarly, the standalone …

Oil India, ONGC shares jump 5% today. What's fuelling the rally?
3 months ago

Oil India, ONGC shares jump 5% today. What's fuelling the rally?

India Today  

Shares of Oil India Ltd and ONGC surged up to 5% on Friday, buoyed by a sharp rise in crude oil prices, which reached their highest levels in over two months. According to YES Securities, ONGC’s oil production may fall 4.7% year-on-year in Q3, though gas production is likely to remain flat. For the December quarter, YES Securities projects a …

ONGC looks to cash in on gas pricing tweak, KG basin ramp-up
4 months, 2 weeks ago

ONGC looks to cash in on gas pricing tweak, KG basin ramp-up

Live Mint  

Oil and Natural Gas Corp. Ltd’s standalone gross crude oil realization fell about 8% year-on-year in the September quarter to $78.3 per barrel. The good news is that the ramp-up of crude oil production from the newly developed KG basin 98/2 block to 25,000 barrels per day in October, up from 12,000 bpd in the June quarter should help it …

ONGC Q2 Results: Net profit falls 25% YoY to ₹10,272.5 crore; interim dividend of ₹6 per share declared
4 months, 3 weeks ago

ONGC Q2 Results: Net profit falls 25% YoY to ₹10,272.5 crore; interim dividend of ₹6 per share declared

Live Mint  

ONGC Q2 Results: Oil and Natural Gas Corporation Limited announced its July to September quarter results on Monday, November 11. Oil and Natural Gas Corporation Ltd shares closed 2.08 per cent lower at ₹256.90 after Monday's market session, compared to ₹262.35 at the previous market close. The company's revenue from core operations rose 7.25 per cent to ₹1,58,329.10 crore in …

Inside ONGC’s call for foreign companies at Mumbai High
9 months, 2 weeks ago

Inside ONGC’s call for foreign companies at Mumbai High

Hindustan Times  

State-run Oil and Natural Gas Corporation’s decision to invite a tender on June 1 to engage an international firm to enhance oil production from its flagship Mumbai High came after an in-house committee on May 30 said the oil field was facing an “alarming state of decline”, according to documents seen by HT. The six-member committee, which was constituted by …

ONGC seeks foreign partners for Mumbai High oilfield as output falls
9 months, 3 weeks ago

ONGC seeks foreign partners for Mumbai High oilfield as output falls

Hindustan Times  

Oil and Natural Gas Corporation is seeking foreign partners for its flagship Mumbai High field due to declining outputs, PTI reported. ONGC believes the field still has a balance reserve of 80 million tonnes of oil and over 40 bcm of gas and hence, needs partners who can help tap them. ONGC had previously resisted considerations to sell the Mumbai …

ONGC starts oil production from flagship deep sea project in Krishna Godavari basin off Andhra coast
1 year, 2 months ago

ONGC starts oil production from flagship deep sea project in Krishna Godavari basin off Andhra coast

Op India  

The Oil and Natural Gas Corporation started oil production from the much-delayed flagship deep-water project in the Krishna Godavari basin offshore the nation’s eastern coast. As India powers ahead as the fastest growing economy under leadership of PM @NarendraModi Ji, our energy production is also set to rise from the deepest frontiers of #KrishnaGodavari “First Oil” production commences from the …

ONGC Starts Oil Production from Delayed $5 Billion Deep-Water Project
1 year, 2 months ago

ONGC Starts Oil Production from Delayed $5 Billion Deep-Water Project

News 18  

State-owned Oil and Natural Gas Corporation on Monday said it has started oil production from its much-delayed flagship deep-sea project in Krishna Godavari basin in Bay of Bengal, which will help reverse years of decline in output. “This 98/2 project is likely to increase ONGC’s total oil and gas production by 11 per cent and 15 per cent respectively,” ONGC …

ONGC Q1 net profit drops 34% on lower oil prices, output
1 year, 7 months ago

ONGC Q1 net profit drops 34% on lower oil prices, output

Hindustan Times  

The net profit of Oil and Natural Gas Corporation fell over 34 per cent in June quarter on decline in oil prices and lower output, the firm said. ONGC, India's top crude oil and natural gas producer, earned USD 76.49 for every barrel of crude oil it produced and sold from nomination fields against a net realisation of USD 108.55 …

ONGC plans ₹1 tn investment to cut carbon emissions
1 year, 10 months ago

ONGC plans ₹1 tn investment to cut carbon emissions

Live Mint  

New Delhi: Oil and Natural Gas Corp. will spend ₹1 trillion on green initiatives by 2030 to reduce its carbon footprint as part of a broader effort to achieve net-zero emissions by 2038. ONGC’s chairman and managing director Arun Kumar Singh, told reporters on Monday that the oil explorer has set an ambitious net-zero target and aims to cut both …

ONGC to reverse oil, gas output decline; sees 18% jump in production in FY25
2 years, 1 month ago

ONGC to reverse oil, gas output decline; sees 18% jump in production in FY25

The Hindu  

India's largest oil and gas producer ONGC will this year reverse years of decline in production and gradually raise output thereafter, as it invests billions of dollars to produce from newer discoveries, a top company official said. "We are definitely looking forward to increasing production of oil and gas in 2023-24 and even in the current year," ONGC chairman Arun …

Solid Cash Flow to Support ONGC's Higher Investments: S&P
2 years, 9 months ago

Solid Cash Flow to Support ONGC's Higher Investments: S&P

News 18  

Riding on the back of surge in global energy prices, state-owned Oil and Natural Gas Corporation should have a solid base to increase investments over the next 12-18 months on account of healthy earnings, S&P Global Ratings has said. While oil prices are hovering at multi-year high, gas prices for ONGC too have risen to best ever rate of USD …

ONGC sees oil production rising 11%, gas jumping 25% by FY25
2 years, 10 months ago

ONGC sees oil production rising 11%, gas jumping 25% by FY25

The Hindu  

ONGC said its crude oil production would rise 11% and natural gas output would jump 25% after newer discoveries in the western and eastern offshore start producing. In an investor presentation post FY22 earnings, Oil and Natural Gas Corporation said crude oil production would rise from 19.545 million tonnes in the financial year ended March 31 to 19.88 million tonnes …

Do Not See Govt Slapping Windfall Tax Amid Surging Energy Prices: ONGC
2 years, 10 months ago

Do Not See Govt Slapping Windfall Tax Amid Surging Energy Prices: ONGC

ABP News  

Mumbai: The government is not looking to impose any new tax on windfall gains that oil and gas producers earned from shooting energy prices, India's top producer ONGC said on Monday. Oil and Natural Gas Corporation and Oil India Ltd reported bumper profits in the March quarter and record earnings in 2021-22, triggering talks of the government slapping a windfall …

Oil ministry tells ONGC to sell oilfields; hive off drilling, other services
3 years, 11 months ago

Oil ministry tells ONGC to sell oilfields; hive off drilling, other services

Hindustan Times  

The petroleum ministry has told India's largest oil and gas producer ONGC to sell stake in producing oil fields such as to Ratna R-Series to private firms, get foreign partners in KG basin gas fields, monetise existing infrastructure, and hive off drilling and other services into a separate firm to raise production. ONGC produced 20.2 million tonnes of crude oil …

ONGC charts course for $15 billion investment
5 years, 7 months ago

ONGC charts course for $15 billion investment

Live Mint  

India's top oil and gas producer ONGC on Friday unveiled a $15-16 billion investment plan to double output from its domestic and overseas fields, expand its refining capacity three folds and diversify into renewables to earn four times higher net profit by 2040. The new Energy Strategy 2040, which was adopted by the board a few weeks back, sets target …

ONGC’s June quarter performance to keep already-low valuations in check
5 years, 7 months ago

ONGC’s June quarter performance to keep already-low valuations in check

Live Mint  

For state-run Oil and Natural Gas Corp. Ltd’s investors, the fact that the stock’s valuations are inexpensive, is perhaps, the only bright spot. Analysts from Emkay Global Financial Services Ltd said in a report on 13 August: “We are underweight on ONGC due to lack of triggers, weak oil output, commodity volatility and a significant divestment overhang.” Having said that, …

ONGC eyes upstream linked power generation, refining projects abroad
6 years ago

ONGC eyes upstream linked power generation, refining projects abroad

Live Mint  

Mumbai: State-run Oil and Natural Gas Corp. Ltd plans to leverage its units, ONGC Tripura Power Co. Ltd, Hindustan Petroleum Corp. Ltd, and Mangalore Refinery and Petrochemicals Ltd, to win upstream linked electricity generation and refining projects overseas, said a senior company executive. ONGC, which accounts for 73% of India’s oil and gas output, acquired the government’s stake in HPCL …

ONGC’s net rises 58%
6 years, 8 months ago

ONGC’s net rises 58%

The Hindu  

State-owned ONGC on Thursday reported its highest quarterly net profit in more than four and a half years on sharp rise in prices for the oil and gas it produced. Net profit of ₹6,143.88 crore in the first quarter of the 2018-19 fiscal was 58.1% higher than ₹3,884.73 crore in the year earlier period, Oil and Natural Gas Corp. said …

ONGC Q1 profit rises 58% to ₹6,144 crore, misses estimates
6 years, 8 months ago

ONGC Q1 profit rises 58% to ₹6,144 crore, misses estimates

Live Mint  

New Delhi: State-owned ONGC on Thursday reported its highest quarterly net profit in over four-and-a-half-years on sharp rise in prices for oil and gas it produced. Its net profit of ₹ 6,143.88 crore in the first quarter of the 2018-19 fiscal was 58.1% higher than ₹ 3,884.73 crore in the year-ago period, Oil and Natural Gas Corp said in a …

ONGC net profit up 3.1% in Q2
7 years, 5 months ago

ONGC net profit up 3.1% in Q2

India TV News  

State-run Oil and Natural Gas Corporation 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. The exploring company also said the crude oil price realisation from nominated fields rose by 6.9 per cent to US$51.22 per …

ONGC plans to invest Rs 40,000 cr in KG oil, gas finds
10 years ago

ONGC plans to invest Rs 40,000 cr in KG oil, gas finds

Firstpost  

ONGC plans to drill 14 oil wells and 10 water injectors in Cluster-2A and is expected to produce 31.5 million tons of oil in 15 years. New Delhi: State-owned Oil and Natural Gas Corp. will invest about Rs 40,000 crore in bringing to production oil and gas discoveries in its Krishna Godavari basin block KG-D5, chairman Dinesh K Sarraf said …

Report on delay in ONGC's KG basin gas by December end
10 years, 4 months ago

Report on delay in ONGC's KG basin gas by December end

India TV News  

New Delhi: A committee headed by the director general of hydrocarbons will submit, by December 24, its inquiry report on the delay in developing gas discoveries in state-run explorer ONGC's Krishna Godavari basin KG-D5 block, parliament was told on Tuesday. "The government has set up a three member inquiry committee for inquiring into the matter of delay in developing gas …

ONGC oil output jumps 10%
10 years, 5 months ago

ONGC oil output jumps 10%

The Hindu  

In a turnaround, state-owned Oil and Natural Gas Corp has reported a 10 per cent jump in crude oil production from its western offshore fields this fiscal, reversing the downward slide of past few years. “Crude oil production has risen from 285,642 barrels per day in April to over 315,000 bpd this month,” ONGC Chairman and Managing Director Dinesh K. …

ONGC shares surge 8%; gas price hike to add Rs 1,950 cr to profits this year
10 years, 5 months ago

ONGC shares surge 8%; gas price hike to add Rs 1,950 cr to profits this year

Firstpost  

Every $1 rise in gas price increases ONGC’s revenues by Rs 4,000 crore and net profit by Rs 2,350 crore State-owned Oil and Natural Gas Corp will rake in about Rs 1,950 crore in additional profit this fiscal from the 46 percent rise in natural gas prices announced by the government. “Every $1 rise in gas price increases our revenues …

ONGC gearing up to boost production
10 years, 6 months ago

ONGC gearing up to boost production

The Hindu  

Oil and Natural Gas Corporation Ltd. is gearing up to substantially enhance its crude oil and gas output through the development of multiple fields, top officials said. Though the state-run oil and gas explorer has already received approval for the development of Daman project at an investment of Rs.5,219 crore and the re-development Bombay High North project with an investment …

Oil Min delays in KG gas project approvals cost firm 3 years: ONGC
10 years, 7 months ago

Oil Min delays in KG gas project approvals cost firm 3 years: ONGC

Firstpost  

ONGC says it lost three years because the ministry and DGH refused to approve its partnership with Norway’s Statoil and Petrobras of Brazil for the block. New Delhi: As Oil Ministry looks into reasons for delay in ONGC’s KG basin gas development, the state-owned firm says it lost three years because the ministry and DGH refused to approve its partnership …

ONGC to speed up development of KG gas finds
10 years, 8 months ago

ONGC to speed up development of KG gas finds

Firstpost  

ONGC chairman and managing director Dinesh K Sarraf recently held an on-site review meeting of Block KG-DWN-98/2 or KG-D5 and fixed 1 April, 2018 as date for start of production. New Delhi: State-owned Oil and Natural Gas Corp will fast-track development of natural gas discoveries in its Krishna Godavari basin block with first gas planned no later than 1 April …

ONGC plans first natural gas block in KG basin by April 2018
10 years, 8 months ago

ONGC plans first natural gas block in KG basin by April 2018

Firstpost  

ONGC has made 11 oil and gas discoveries in the Block KG-DWN-98/2, which sits next to Reliance Industries’ KG-D6 Block and Gujarat State Petroleum Corp’s Deendayal gas field. New Delhi: State-owned Oil and Natural Gas Corp will fast-track development of natural gas discoveries in its Krishna Godavari basin block with first gas planned no later than April 1, 2018. ONGC …

ONGC to double output by 2030
12 years, 6 months ago

ONGC to double output by 2030

The Hindu  

Oil and Natural Gas Corporation has drawn up a ‘Perspective Plan 2030’ to invest Rs.11 lakh-crore over the next 18 years. In 2011-12, ONGC produced 23.71 million tonnes of oil and 23.32 billion cubic metres of gas. Mr. Vasudeva said OVL would be looking to explore investment opportunities in around 4-5 international hubs where the entity could achieve adequate growth …

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