ONGC to lose Rs 4,000cr on new gas price; seeks freeing of gas prices On April 1, the gas price was reduced from $3.23 per mmBtu to $2.39 - an 84 cent reduction which translates into annual Rs 4,000 crore of revenue loss.
Coronavirus lockdown: ONGC, IOC, other oil cos contribute over Rs 1,031 cr to PM COVID-19 fund Oil and Natural Gas Corp (ONGC), Indian Oil Corp (IOC) and other public sector oil companies have contributed over Rs 1,000 crore to the Prime Minister CARES Fund to help in the fight against COVID-19 pandemic.
Oil & gas stocks rally after crude oil prices hit 18-year low; Morgan Stanley bullish on HPCL, BPCL Nifty Energy jumped over 3 percent led by gains from Reliance Industries which jumped 4 percent followed by BPCL, GAIL India, HPCL, Indian Oil Corporation and ONGC which added 3-5 percent.
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Autos, financials among 7 sectors could see over 20% earnings downgrade: Jefferies Sectors like F&B, hotels, tourism, and retail trade (~12% of India's GDP) sees a decline in the activity, said a Jefferies report.
India's oil production in Feb dips 6.4% on lower pvt sector output State-owned Oil and Natural Gas Corp (ONGC) reported a 4.64 per cent rise in production at 1.67 million tonnes as output from its offshore fields saw a pick-up.
Moody's downgrades ONGC rating on uncertain oil prices, govt guidelines on dividend Against the backdrop of a significant deterioration in oil prices over the last month that is predicted to persist for most of 2020, ONGC decided to pay an interim dividend of Rs 5 per share last week, resulting in cash outflows of Rs 6,300 crore, which has reduced its cash reserves.
ONGC starts pumping gas from Krishna Godavari block Officials said the company began production from the first well on the KG-D5 block and is currently producing around 0.25 million standard cubic meters per day (mmscmd).
Oil prices fell on Wednesday after Saudi Arabia and the United Arab Emirates announced plans to boost production capacity and OPEC and the U.S. Energy Information Administration (EIA) slashed oil demand forecasts because of the coronavirus outbreak.
Stocks in the news: Power Grid, Pidilite Industries, Jubilant Food, RITES, Bank of Baroda Power Grid | Pidilite Industries | Jubilant Food | RITES | Bank of Baroda and Canara Bank are among the stocks that are in the news today.
No impact on investment due to slowdown: ONGC chief Speaking to reporters here, ONGC Chairman and Managing Director Shashi Shanker said the investment of the company are long-term and take time to yield profits.
SOURCE: Data from D'Market via Quandl. Intraday data delayed 15 minutes.
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