Oil and Natural Gas Corp (ONGC) posted good set of second quarter earnings and is set for a strong third quarter earnings on back of higher crude prices. Throwing more light on the earnings and the outlook going forward AK Srinivasan, Director-Finance, ONGC said for every USD 1 crude change for a full volume of one year, we have topline will increase by Rs 900 crore and profit will increase by Rs 400 crore.
From the side-lines of CERAWeek India Energy Forum, CNBC-TV18’s Anshu Sharma caught up with new Oil and Natural Gas Corporation (ONGC) Chairman Shashi Shanker and asked him about investment plans and outlook going ahead.
Oil and Natural Gas Corporation (ONGC) will acquire Hindustan Petroleum Corporation (HPCL) later this year in a block deal at the prevailing market price and that would happen at some point during October or November.
In an interview to CNBC-TV18, AK Srinivasan, Director-Finance at Oil and Natural Gas Corporation (ONGC) shared his FY18 outlook.
In an interview to CNBC-TV18, Saket Jindal, MD of Maharashtra Seamless spoke about the latest happenings in his company and sector. Growth was led by increase in production due to anti-dumping duties imposed on China last year. So we have bagged the additional market share from Oil and Natural Gas Corporation (ONGC) and certain other sectors, he said.
CNBC-TV18's Anshu Sharma asked oil minister Dharmendra Pradhan about the timeline for the integration of Hindustan Petroleum Corporation (HPCL) and Oil and Natural Gas Corporation (ONGC) now that the Cabinet Committee on Economic Affairs (CCEA) has given the nod.
The government has given the go-ahead for oil and gas explorer Oil and Natural Gas Corporation (ONGC) to acquire the centre's 51 percent stake in retail company Hindustan Petroleum Corporation Ltd (HPCL).
MRPL merging with HPCL makes logical sense and will be a big positive for the company, said MK Surana, CMD, HPCL.
Chartered Logistics is buzzing in trade. In an interview to CNBC-TV18, Harsh Gandhi, ED of Chartered Logistics spoke about latest happenings in the company as well as about impact of goods and services tax (GST) on the sector. GST transition has been unstable so far. Many dispatches are on hold which will put some pressure on figures, he said.
Crude oil prices are unlikely to go above USD 60 per barrel and would more likely remain in USD 45-55/bbl range, said MK Surana, CMD, HPCL.
Oil marketing majors gained in trade yesterday following the Oil Minister, Dharmendra Pradhan's assurance that the Oil and Natural Gas Corporation-Hindustan Petroleum Corporation Ltd (ONGC-HPCL) merger, to create a mega oil public sector undertaking (PSU), will be completed in FY18. In an interview to CNBC-TV18, RS Sharma, Former Chairman of ONGC and Vidyadhar Ginde, Oil & Gas analyst at ICICI Securities shared their views about the same.
Crude prices have fallen by close to about 10 percent in the last one month. Will it impact the earnings of Oil and Natural Gas Corporation (ONGC)? “We expect the crude prices to come around USD 50 per barrel to USD 55 per barrel range,” AK Srinivasan, Director-Finance at ONGC told CNBC-TV18.
The Deep Industries' stock is down 13 percent in the last two sessions on fear that the ONGC contract is in jeopardy. In an interview to CNBC-TV18, Paras Savla, CMD of Deep Industries spoke about the latest happenings in the company.
In an interview to CNBC-TV18, MK Surana, CMD of HPCL spoke about the latest happenings in his company and sector. “Merger of HPCL and MRPL brings a lot of synergies in the system because they are independent refining companies and we have got the shortage of the refining capacities. So that definitely makes a sense,” he said.
In an interview to CNBC-TV18, Saket Jindal, MD, Maharashtra Seamless spoke about the results and his outlook for the company.
The fall in gas prices has hit Oil and Natural Gas Corporation’s (ONGC) FY17 revenues but margin growth also was muted. In an interview to CNBC-TV18, DK Sarraf, CMD of ONGC spoke about the results and his outlook for the company.
In an interview to CNBC-TV18, P Balasubramanian, Director-Finance at Bharat Petroleum Corporation Ltd (BPCL) spoke about the latest happenings in his company and sector.
MK Surana, CMD of Hindustan Petroleum Corporation Ltd expects to end FY17 with GRMs of around USD 6 per barrel.
The centre has jumped to the rescue of state-owned oil companies Oil India andONGC, who are liable to pay royalty dues to states of Assam and Gujarat.
As per recent reports, one proposal is for upstream giant ONGC to acquire retail major HPCL for Rs 44,000 crore. Energy expert Narendra Taneja believes that the merger will help ONGC gain more strength and will become a USD 100 billion plus company.
ONGC will have to settle dues worth Rs 2500 crore and this could have a Rs 1600-1700- crore impact on profit, says Director-Finance AK Srinivasan.
JSW Saw is in a sweet spot with good visibility in terms of the order book and healthy order execution, says Group CEO Neeraj Kumar.
Vertical integration of state-owned energy firms would increase efficiency. says ONGC Chairman Dinesh K Sarraf in an interview to CNBC-TV18.
Merging all the oil companies into one entity looks difficult even though it has financial benefits, says HPCL‘s Chairman and Managing Director, MK Surana, commenting on the Finance Minister Arun Jaitley‘s Budget proposal to merge state oil firms to create an oil behemoth