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.
With India's auto industry expected to see structural growth for many years, there are many allied industries which are expected to ride the wave, dominated by the oil marketing companies and a few private players. The Indian lubricant industry which is already one of the biggest in the world, is now getting more attention from global oil and gas majors, reports CNBC-TV18's Yash Jain and Areeb Sherwani.
All eyes are on the state election results which are due tomorrow and whether Bharatiya Janata Party, which is also the ruling party, will secure its win in Uttar Pradesh. However, market experts believe that such events are digested in 4-5 days and the focus is back on global news and earnings.
The recent rally has led to a run-up in valuations, and Mahesh Patil, Co-Chief Investment Officer at Birla Sun Life AMC told CNBC-TV18 he would prefer to not chase the market, but look to buy at better price points.
With international oil and gas and commodity prices witnessing a decline, engineering firm KEC International is expecting its overseas business to pick and is eyeing nearly 45 per cent of its revenues from this, in fiscal 2017-18.
Although policy changes may be kept to a minimum in Finance Minister Arun Jaitley's Budget speech for the oil and gas sector, changes in the cess rates for oil production may prove to be a positive for the sector, suggest reports.
Countries complying with the Opec and Non-Opec countries' agreement is also going to decide crude prices. He says most countries have cut output by around 2.5-4 percent, but only time will tell if they continue to do so over a long period of time.
Iran has named 29 companies from more than a dozen countries as being allowed to bid for oil and gas projects using the new, less restrictive Iran Petroleum Contract (IPC) model, the oil ministry news website SHANA reported on Monday
On a long-term horizon, Krishnan says he is bullish on the auto, cement, oil and gas segments. He is especially positive on oil and gas as these sectors remain to be untouched by the demonetisation.
With Modi‘s 50-day grace period running out fast, It‘s worth a quick trawl of the various sectors to figure out which have been hit the worst.
The global oil and gas industry will continue to be plagued by the weight of high debt levels next year despite the Opec offer to lower production from January, which has helped the industry rebound modestly from its 2016 trough, says a report.
With much of the pain behind us, the market is now starting to look relatively attractive and there is a fair chance of the indices hitting new highs in 2017, says Mahesh Patil, Co-Chief investment officer at Birla Sun Life AMC.
There are apprehensions about the response after prospective bidders complained about the quality and amount of data being made available on the fields that have been put on offer, sources privy to the development said.
India‘s macro story looks very good, says Sanjeev Prasad of Kotak Institutional Equities. Speaking to CNBC-TV18 Prasad said that global events are hard to predict.
The broader long-term India story is fairly robust and remains intact. So long-term investors need not worry, but shorter-term, the market is richly valued, said Gautam Chhaochharia, Head-India Research, UBS Securities.
The total order book stands at around Rs 10,000 crore now, said S Ramachandran, CEO of IL&FS Engineering and Construction. The GAIL project, which IL&FS got through a reverse auction, will bring in margins in excess of 13-14 percent, he added.
The Petroleum Federation of India or PetroFed is the apex society of entities in the hydrocarbon sector. Its aim is to recognise and facilitate individuals and organisations that have excelled in various domains in the sector, PetroFed organised the Annual PetroFed Oil and Gas Industry Awards.
Gautam Chhaochharia, Head-India Research at UBS is overweight on oil and gas space.
Biggest risk to the market is lack of FII inflows because post Brexit, there could be leadership changes in the UK which could lead to a risk-off, especially for emerging markets, so one must position oneself accordingly, says UR Bhat, Director, Dalton Capital Advisors.
Indian markets will not see any big headwinds as monsoons have picked up and GST Bill stands a big chance of getting passed and liquidity in the system is much higher, said Mahesh Patil, Co-CIO at Birla Sun Life AMC.
Australia-based group is one of the world's largest producers of iron ore, metallurgical coal, copper and uranium, and has interests in conventional and unconventional oil and gas and energy coal.
In this episode of Energizing Summit 2.0 we aim to hear thought provoking sessions and get a detailed perspective from oil and gas sector from industry stalwarts and government representatives.
Nitin Raheja, CIO, Rada Advisors, says it is difficult to take a call on which direction the market is going and so once again the focus should be back on bottom-up stock picking.
Oil & Gas Minister Dharmendra Pradhan is pushing ahead to achieve Prime Minister Narendra Modi's target of cutting India's dependence on fuel imports by half by 2030.