Oil And Natural Gas

Citi, Jefferies remain bullish on ONGC after govt hikes premiums for new gas wells

Brokerages remain bullish on ONGC, with Jefferies and Citi raising target prices after the government announced a 20% premium on new gas wells.

BP profits are cut in half to $2.6 billion as oil and natural gas prices fall

Energy costs were a major driver of inflation around the world, stirring outcry as households and businesses faced skyrocketing electricity and heating bills while energy companies’ profits skyrocketed.

ONGC puts a date to start of KG gas, seeks $12 price

Oil and Natural Gas Corporation (ONGC) will produce 0.4 million standard cubic metres per day - a fraction of the planned output from the block that sits next to Reliance Industries' prolific KG-D6 area in the Bay of Bengal, from June 15 and will ramp it up to 1.4 mmscmd by February 5, 2024, according to tender document the firm floated, seeking bids for gas sales.

Oil giant Saudi Aramco makes a historic $161 billion profit in 2022

The monster profit by the firm, known formally as the Saudi Arabian Oil Co., came off the back of energy prices rising after Russia launched its war on Ukraine in February 2022, with sanctions limiting the sale of Moscow's oil and natural gas in Western markets.

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

After additional discoveries in the western and eastern offshore began producing, ONGC claimed its crude oil production would grow 11% and natural gas output will jump 25%, reversing a downward trend in recent years.

UAE announces new oil, gas discoveries; overtakes Kuwait with world's 6th largest oil deposits

The Gulf state's highest energy decision-making body, the Supreme Petroleum Council (SPC), said the new discoveries included seven billion barrels of crude oil and 58 trillion cubic feet of natural gas.

Oil prices bounce back in Asia after sharp losses

Both main contracts tumbled around five percent on Monday and yesterday after Iran said at the weekend it would not join the talks until its production had hit 4.0 million barrels per day.

Oil prices to average $33/barrel on low demand: Moody's

The rating agency estimates crude oil prices to average USD 33 per barrel in 2016, USD 10 lower than its previous estimate and expects rates rising by USD 5 a barrel each in 2017 and 2018.

India home to 56 of world's 2000 powerful companies: Forbes

Mukesh Ambani-led Reliance Industries leads the pack of 56 Indian companies in the 2015 Forbes 'Global 2000' list.

IT, pharma sectors likely to be backbone of Telangana

With nearly 1,000 km-long coast line, the coastal Andhra has major private ports such as Krishnapatnam, Kakinada and Gangavaram, besides state-owned Vizag Port and can continue to reap rich harvest by way of export and import of commodities such as iron ore and coal.

Buy ONGC, Bharti Airtel, HDFC: Sukhani

Sudarshan Sukhani of s2analytics.com is of the view that one can buy ONGC, Bharti Airtel, HDFC and Wipro.

ONGC finalises Rs 8,000-cr surface facility revamping prog

Oil and natural gas major ONGC has finalised a Rs 8,000 crore surface facility revamping programme for its three onshore assets in Gujarat, a top company official has said.

Govt to sell stakes in BHEL via auction route, say sources

Ahead of an Empowered Group of Ministers (EGoM) to decide how much stake the government should divest in Bharat Heavy Electricals (BHEL) and Oil and Natural gas (ONGC) and by which options, CNBC-TV18 has learnt that they are likely to consider sale of shares via the auction route.