18 stories mentioning BOM:500312Updated 5d ago
Every FINWIRES story that references BOM:500312, newest first.
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Seamec (NSE:SEAMECLTD, BOM:526807) said SAMUDRA SEVAK, a vessel it manages for Oil and Natural Gas (NSE:ONGC, BOM:500312), reached Mumbai on Wednesday after the completion of its emergency dry docking.The vessel will return to the field to continue its obligation following regulatory compliances, according to a Wednesday Indian bourse filing.
ONGC Videsh, the international investment arm of India's Oil & Natural Gas (NSE:ONGC, BOM:500312), has sent a team of nearly a dozen officials to Venezuela to inspect its oil assets and meet government energy officials, Bloomberg reported Wednesday, citing people familiar with the matter.The seven-day visit, which started on Tuesday, is the company's first such trip to Venezuela in years and follows U.S. approval in July allowing ONGC Videsh to resume oil and gas activities in the country, the report noted. The company reportedly holds a 40% interest in the San Cristobal field and an 11% stake in the Carabobo-1 block.OVL is negotiating framework agreements with Venezuela and is seeking to become operator of the two projects, Bloomberg said.ONGC did not immediately respond to' request for comment.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)
India's Oil and Natural Gas (NSE:ONGC, BOM:500312) aims to invest 1 trillion rupees over the next five years to explore deepwater and ultradeepwater fields in the country, Reuters reported Monday, citing Chairman A.K. Singh.The state-run oil explorer plans to drill 87 deepwater and ultradeepwater wells by March 2031, according to the report.India has significant untapped oil and gas reserves in deepwater blocks, while advances in technology are making it possible to develop those resources, Singh reportedly said.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)
India's Oil and Natural Gas (NSE:ONGC, BOM:500312) is among companies expected to sign final agreements in Venezuela after months of negotiations, Reuters reported, citing five sources familiar with the preparations.ONGC, along with U.S. firms Chevron and GE Vernova, Italy's Eni and Colombia's GeoPark, is working to finalize agreements that would allow foreign companies greater flexibility to expand and operate oilfields, export crude and access cash-sale proceeds, according to the report.The list of companies signing the pacts has not yet been finalized as negotiations continue, the report added.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)
Oil and Natural Gas (NSE:ONGC, BOM:500312) plans to invest around 70 billion rupees to develop underground storage in India that can store around 13 MMbbl of crude, Bloomberg reported Monday, citing Chairman Arun Kumar Singh.The state-owned explorer has acquired land in southern India for the proposed project, and the construction is expected to start soon, Singh told reporters after the company's annual general meeting.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)
Oil and Natural Gas (NSE:ONGC, BOM:500312) reported higher attributable profit in the fiscal first quarter as stronger earnings from its upstream business offset a sharp loss at subsidiary Hindustan Petroleum or HPCL (BOM:500104, NSE:HINDPETRO).Profit attributable to owners of the parent rose 21% to 119 billion rupees in the quarter ended June 30 from 98 billion rupees a year earlier, according to the company's earnings release on Tuesday.Diluted earnings per share increased to 9.46 rupees from 7.79 rupees a year earlier. Consolidated revenue increased 26% to 2.05 trillion rupees from 1.63 trillion rupees.Consolidated net profit, however, fell 43% to 65.5 billion rupees from 115.5 billion rupees, reflecting HPCL's losses.ONGC said HPCL posted a consolidated net loss of 122.7 billion rupees during the quarter, primarily due to under-recoveries on petroleum products following the sharp rise in crude oil prices triggered by the West Asia crisis.The company added that stronger performances from ONGC Videsh and Mangalore Refinery and Petrochemicals helped support the group's overall results."Projects of more than 400 billion rupees [are] currently under implementation" in the Western Offshore region, ONGC said.It expects the benefits to "progressively materialize from FY 2027-28 onwards, leading to enhanced production, improved recovery, and sustained value creation in the years ahead," the statement added.Standalone crude oil production edged down to 4.45 million metric tons from 4.68 million metric tons a year earlier, while natural gas production slipped to 4.76 billion cubic meters from 4.85 billion cubic meters.The company attributed the decline to reservoir complexities in the KG-98/2 block, adverse weather conditions in the Western Offshore, and temporary well shutdowns linked to major project commissioning.
Oil and Natural Gas (NSE:ONGC, BOM:500312) posted a 21% increase in consolidated attributable profit to 119 billion Indian rupees in the fiscal first quarter from 98 billion rupees a year earlier.Revenue rose 26% to 2.05 trillion rupees from 1.63 trillion rupees, according to a Tuesday exchange filing.Consolidated net profit fell 43% to 65.5 billion rupees from 115.5 billion rupees a year prior.The company said consolidated profit was significantly affected by HPCL's net loss, primarily due to under-recoveries on petroleum products following the sharp rise in crude oil prices after the West Asia crisis.Strong performances from subsidiaries, including ONGC Videsh and MRPL, partly offset the impact.
Oil and Natural Gas (NSE:ONGC, BOM:500312) plans to earmark half of its proposed 1.75 million-metric-ton oil storage facility, or about 13 million barrels, for India's strategic petroleum reserves, Reuters reported, citing junior oil minister Suresh Gopi.The state-run explorer unveiled plans last month to construct the facility in Mangaluru, Karnataka, home to its subsidiary Mangalore Refinery and Petrochemicals' 300,000-barrel-per-day refinery.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)
Seamec (NSE:SEAMECLTD, BOM:526807) said its vessel SEAMEC PALADIN has resumed its long-term charter with Oil and Natural Gas (NSE:ONGC, BOM:500312) after completing regulatory formalities.The vessel was placed on hire effective July 15, according to a same-day stock exchange filing.Seamec shares rose 2% in recent trade.
Fitch Ratings affirmed Oil and Natural Gas Corporation's (NSE:ONGC, BSE:500312) long-term foreign-currency issuer default rating at BBB- with a stable outlook.The agency also raised the company's standalone credit profile to bbb+ from bbb.Fitch said the upgrade reflects its expectation that ONGC's EBITDA net leverage will remain well below 2.0x despite higher capital expenditure.It expects stable EBITDA from the company's vertically integrated operations and production, with production stabilizing as crude oil prices remain elevated.The ratings agency expects ONGC's annual capital expenditure to increase to about 675 billion rupees from fiscal 2027 to 2029, up from 540 billion rupees in fiscal 2026.Fitch said ONGC's overall rating remains constrained by India's sovereign rating because of the government's majority ownership and the company's strategic role in the country's energy security.
State-owned explorer Oil and Natural Gas Corporation (NSE:ONGC, BOM:500312) has received board approval for the development of a petroleum reserve with a capacity of 1.75 million metric tons in Mangalore, India, according to a Thursday filing to the Indian stock exchanges.The company said the project, along with associated facilities, will be developed as a project of national importance under the directives of the Ministry of Petroleum and Natural Gas.ONGC's board also directed the company to take up with the Government of India the issue of broadening commercial utilization opportunities for the strategic petroleum reserve, along with the required regulatory support.
Oil and Natural Gas Corporation (NSE:ONGC, BOM:500312) has appointed Anupam Agarwal, director (finance), as the chief financial officer and key managerial personnel of the company with immediate effect, according to a Thursday filing to the Indian stock exchanges.Agarwal has over 35 years of experience and takes over the position from Yogish Nayak S., who was appointed as CFO in May.
Oil and Natural Gas (NSE:ONGC, BOM:500312) has an average rating of overweight and mean price target of 312.25 Indian rupees, according to analysts polled by FactSet.
Oil and Natural Gas (NSE:ONGC, BOM:500312) has an average rating of overweight and mean price target of 313.19 Indian rupees, according to analysts polled by FactSet.
Oil and Natural Gas (NSE:ONGC, BOM:500312) has an average rating of overweight and mean price target of 312.66 Indian rupees, according to analysts polled by FactSet.
Oil and Natural Gas (NSE:ONGC, BOM:500312) has an average rating of overweight and mean price target of 313.92 Indian rupees, according to analysts polled by FactSet.
Desco Infratech (BOM:544387) secured an order worth 166.7 million Indian rupees from state-owned explorer Oil and Natural Gas Corporation (NSE:ONGC, BOM:500312), according to a BSE filing to the BSE.The contract is for the replacement of 24-inch crude oil transfer pipelines from ONGC Trombay terminal to the refineries of Bharat Petroleum Corporation (NSE:BPCL, BOM:500547) and Hindustan Petroleum Corporation (NSE:BPCL, BOM:500547) refineries in the Uran plant in Maharashtra, India.The company's shares were up over 1% in recent trade.
Oil and Natural Gas (NSE:ONGC, BOM:500312) has an average rating of overweight and mean price target of 306.84 Indian rupees, according to analysts polled by FactSet.
