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Eyeing African Coal Field
Posted by :
sharepredictorNot bullish on this scrip. Investors should exit....
Eyeing African Coal Field
Posted by : rvk41
ONGC, the country’s largest oil and gas producer, is eyeing new energy blocks in Ghana, in a bid to expand it presence in the African continent.
ONGC Videsh (OVL), ONGC’s foreign investment arm, is in talks with Ghana’s national oil company to bid for Kosmos Energy’s stake in the giant offshore Jubilee field of the region.
Dallas-based Kosmos Energy focused on Africa, holds a 30.8 per cent stake in the Jubilee oil block, one of the biggest oil blocks in Africa.
For information,with regards
rvk41...
Gas from new facilities
Posted by :
cmet
Oil and Natural Gas Corp (ONGC), will commence gas production from its C-series fields on India`s western offshore from December 1.
"The initial production will be around one-million standard cubic metres of gas per day (mmscmd), which will be scaled up to three mmscmd within a year," ONGC`s Chairman, R S Sharma, told reporters here today. He said the price of gas has not been finalised yet, but "will settle the pricing issue with GAIL soon."
C-series gas fields are located on the western offshore adjacent to the Bassein gas field.
ONGC has 45 sweet gas wells and 59 sour gas wells in the region.
The company`s Director, Offshore, Sudhir Vasudeva, said four wells have been drilled and are ready for output.
Reacting to reports that the Government was favouring a 33 per cent hike in gas produced from APM fields, Sharma indicated that he supported it. ONGC incurred not only under-recoveries but also huge losses because of highly concessional gas prices.
"As per the audited accounts of FY 09, we have suffered under-recoveries of Rs 4,700-crore in the gas business as well as losses of Rs 2,400-crore," Sharma said, adding "if gas prices are not increased this year the losses are likely to be even higher," he said.
Thus this production from this facility will have positive effect on the profits only if the Govt agrees for the 33% hike that is proposed by the petroleum ministry....
Gas from new facilities
Posted by : cmet
ONGC will commence gas production from its C-series fields on India`s western offshore from December 1.
...
India`s Numero Uno
Posted by : poorfellow
Considering from the SELFISH corner of the STOCK MARKET, the one which can give you highest price appreciation in the quickest possible time is the best company. Example: NEPC India (BSE Code 500301) is a BSE listed company lying at the dark corner for months together as a junk stock. But to my view, it is the best company for today (may be for around next 15 days).
Remember that it is the profit for which we are working day & night taking high risk of losing our whole capital, not to judge which company is the best.
To my view, a Govt. concern is the worst company for investment because its CEO can be changed with the whims of the Ministry, made of some people who change their colour every moment, tell lies all the time. To know the value of the CEO, I divulge here that a wrong CEO can bring the most profitable company to a loss just in two years time. Example: RCF & SAIL: ten years back people were scared to spell the name of these two companies, forget about investing. ITI & HMT are two burning examples.
Who knows what is written in the fate of ONGC in next three years? Can you bet that it will not become another ITI?
Whatever you feel, I must have to say that in the long run working in same sector as that of ONGC, Selan Exploration (530075) will prove itself far better than ONGC.
An elephant is the biggest animal of the forest consuming highest quantity of daily food. Still a horse or a dog, though small, can prove himself far more valuable than that big fatty elephant (in terms of benefits to its owner). Whom will you call the best? Definitely not the Elephant?...
India`s Numero Uno
Posted by :
Gurvinder gaba
This is India`s best Company. No List of best companies of world is complete without this company. So why are you worrying? Keep buying at every fall. I assure you that you will not be in loss. If this share is unable to give you good returns, forget any else in India. This is the best bet in India, coming years will be even better.
Happy Investing...
What is the target for ONGC in NOV end series
Posted by : srisri223
what is the target for ongc by novemeber month end??
1250??? or 1100 ?
visit STOCKDREAMS.BLOGSPOT.C OM...
ONGC
Posted by :
insight95inLower level support are 1100-1110 and decline to buying opportunity. Weekly Trend Decider 1171. Looks hot... keep a stop loss 1175 and play for long side target..........
ONGC yet to confirm or deny uranium news
Posted by : Gurvinder gaba
MUMBAI (Commodity Online): The state-run oil exploration major, Oil & Natural Gas Corporation Ltd (ONGC) today clarified that there might not be uranium reserves in Assam oil fields, where the company had found radio activity while carrying out the exploration work.
The company sources informed that the company had identified about 900 logs, where there was radio activity found. However, sources informed that the study of these logs would reveal if there were any uranium traces in the oil well.
Company, on Monday revealed that they have not discovered any uranium reserves in Assam. “We have not found any uranium reserves so far but traces of some radio active elements have been found. That not necessarily is the uranium, hence we are yet to confirm what it is,” said ONGC chairman, R S Sharma on Monday.
Sharma was reacting to reports carried in a section of the media that ONGC has discovered uranium during exploration work at the Borholla oilfield in Jorhat district, about 360 km east of Guwahati.
...
ONGC may earn additional revenue
Posted by : kskarthickeyan
12.50pm
ONGC may earn additional revenue of up
to 1500 annually if the proposed changes to the administered price
mechanism for natural gas sale come into effect
Regards,
K.S.Karthikeyan...
ONGC may earn additional revenue
Posted by : kskarthickeyan
12.50pm
ONGC may earn additional revenue of up
to 1500 annually if the proposed changes to the administered price
mechanism for natural gas sale come into effect
Regards,
K.S.Karthikeyan...
ONGC finds uranium in Assam
Posted by : Gurvinder gaba
GUWAHATI: Oil exploration firm Oil and Natural Gas Corp (ONGC) on Saturday said it has stumbled upon a reserve of uranium while carrying out
exploration work in an oilfield in Assam.
According to a senior ONGC official, traces of uranium were detected during exploration work at the Borholla oilfield in Jorhat district, about 360 km east of here. ...
ONGC venturing into uranium exploration (11:53 AM)
Posted by : kskarthickeyanONGC venturing into uranium exploration (11:53 AM)...
Petroleum Ministry asks for rise in Gas price
Posted by : cmet
ET has reported that the petroleum ministry has put up a Cabinet note to hike the prices of natural gas produced by ONGC and OIL by almost 31%. This is expected to boost the bottom lines of these companies which have been selling gas at subsidised rates until now.
ONGC and OIL have been waiting for the last 4 years for this price hike.
Gas accounts for 11% of ONGCs revenues. A leading brokerage house has estimated that the price rise will add Rs 3 per share to the eps.
At present the gas business is contributing negatively to the margins of ONGC and this is expected to be a marginal correction which will make up for past losses.This correction could lead to an upside of Rs 2000 crores in revenue on an annual basis.
a senior cabinet official has off the record stated that the aim is to raise the price of gas to $4.2 per mmbtu, the benchmark price at which Reliance Industries is allowed to sell gas frpm KG basin.
What remains to be seen is if the Govt will accede to this request as it will mean higher input costs in fertiliser, steel, auto makers and power generation units....
any techincal chart
Posted by : mslm
dipakgod,
i have 25@1205, should i hold or sell...
