|Bid||0.00 x 0|
|Ask||0.00 x 0|
|Day's range||153.40 - 155.00|
|52-week range||119.85 - 169.00|
|Beta (5Y monthly)||0.73|
|PE ratio (TTM)||5.49|
|Earnings date||08 Aug 2023 - 12 Aug 2023|
|Forward dividend & yield||10.75 (7.00%)|
|Ex-dividend date||24 Feb 2023|
|1y target est||186.96|
MUMBAI (Reuters) -India's state-run Oil and Natural Gas Corp said oil output from the Sakhalin-1 project in Russia has bounced back to its plateau level of about 200,000 barrels per day (bpd) from zero, according to a company presentation. ONGC hopes to reclaim its 20% stake in the project in coming months after some 'terms and conditions' are fulfilled, Rajarshi Gupta, managing director of ONGC Videsh, the overseas investment arm of ONGC, said at a news conference. ONGC last year applied to the new Russian operator of Sakhalin-1 to retain its stake in the oil and gas project in the country's Far East, a person familiar with the development said in November.
India will provisionally keep the price of locally produced gas from old fields at $8.57 per million metric British thermal units (mmBtu), the government said on Friday, while it considers a potential change to the pricing formula. Under the existing formula, the price was due to go up for April-September, but to ensure fair prices for consumers and that inflation is kept in check the federal government last year set up a panel to review it. Keeping gas prices at the current level could hit the earnings of producers such as government-run Oil and Natural Gas Corp. (ONGC) and Oil India Ltd.
TotalEnergies’ latest offshore deepwater exploration deal marks a new episode in
India's top explorer Oil and Natural Gas Corp has signed a memorandum of understanding with French major TotalEnergies for exploration of deep-water blocks, the company tweeted on Monday. The MoU seeks to provide technical help for ONGC's push to explore and reduce green house emissions in development of deep-water blocks especially in Mahanadi and Andamans, off India's east coast. "We will jointly evaluate Exploration and Development opportunities to create synergies with local economies," said Sushma Rawat, ONGCs' Director for Exploration.
Russia has restored oil output at its Sakhalin-1 project after struggling with production following the exit of previous operator Exxon Mobil Corp due to sanctions, an industry source said. Oil output from Russia's Sakhalin-1 project has recovered to 140,000-150,000 barrels per day (bpd), about 65% of the capacity and will soon hit full level of about 220,000 bpd, an industry source familiar with the matter said on Monday. Sakhalin-1 output collapsed after Exxon issued force majeure and abandoned the offshore project due to Western sanctions.
Indian oil explorer and producer Oil and Natural Gas Corp said on Wednesday it signed a Heads of Agreement (HoA) with global petroleum giant ExxonMobil Corp for deepwater exploration in the country's East and West coasts. The two oil explorers would focus on the Krishna Godavari and Cauvery basins in the eastern offshore and the Kutch-Mumbai region in the western offshore, ONGC said in a release. ONGC's head of exploration Rajesh Kumar Srivastava said his company is looking for a "long-lasting partnership with Exxon".