Exploration and production segment in oil and gas sector holds tremendous business potential in India given the rising demand for crude oil and natural gas in the country. According to one estimate, oil consumption in the country may expand 4-5 percent per annum to 2015, indicating a demand of 4.01 million barrels per day by 2015 from the present level of around 3 mn barrels per day.
Tag: ONGC
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Brokerage expects mixed profitability of oil and gas firms
In its recent report on earnings of oil and gas sector, Angel Broking said it expected mixed profitability performance of the companies in this sector during Oct-Dec 2012 quarter. The brokerage expects the top-line of Reliance Industries (RIL) to rise 5.7 percent yoy on account of higher prices of petrochemicals. However, its operating profi
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Brokerage expects mixed profitability of oil and gas firms
In its recent report on earnings of oil and gas sector, Angel Broking said it expected mixed profitability performance of the companies in this sector during Oct-Dec 2012 quarter. The brokerage expects the top-line of Reliance Industries (RIL) to rise 5.7 percent yoy on account of higher prices of petrochemicals. However, its operating profi
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Gujarat to remain a hot-spot for oil & gas sector
The vibrant state of Gujarat has been emerging as a major investment destination for the oil and gas sector due to the state governmentÂ’s sound economic policies.
Over the years, various industries such as power, automobiles, healthcare, gems, jewellery and ports have seen sharp acceleration in their businesses, boosting the stateÂ’s growth at a time when the countryÂ’s economic growth run-rate has been showing a downward curve over the past couple of years.
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ONGC develops 2 projects
Oil And Natural Gas Corporation (ONGC) currently has two projects under development namely Carabobo 1, in Venezuela, which is likely to commence early production by end of 2012-13 and Blocks A1 & A3 in Myanmar, which are likely to commence production in July 2013.
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ONGC develops 2 projects
Oil And Natural Gas Corporation (ONGC) currently has two projects under development namely Carabobo 1, in Venezuela, which is likely to commence early production by end of 2012-13 and Blocks A1 & A3 in Myanmar, which are likely to commence production in July 2013.
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Asian firms to compete with India for overseas assets
Reports suggest that Indian oil companies that attempt to acquire overseas energy assets may find stiff competition from Asian countries like Japan and China. Oil companies in Japan are said to be on a quest for upstream assets overseas, often with strong state support as the government tries to reduce reliance on atomic power after the Fukushima disaster. China, which was a major crude oil importer from Iran, had to reduce reliance on oil from the Gulf company follo
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CPSEs have Rs 2.84 trillion cash
Minister of heavy Industries and Public Enterprises Praful Patel informed Lok Sabha that Central Public Sector Enterprises (CPSEs) have Rs 284,153.22 crore cash and bank balances at present. Further, it is learnt that 17 state-run firms, including, ONGC, OIL and NTPC, committed to invest over Rs 1.63 lakh crore during 2012-13
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Ministry may urge ONGC to decommission project
Agency reports suggest that the union environment ministry would urge ONGC to decommission an abandoned pipeline project in the Nagapattinam district of T
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ONGC’s stake sale in KG block awaits govt nod
The sale of 26 per cent stake by Oil and Natural Gas Corporation (ONGC) in its KG Basin exploration block to a Japanese firm is awaiting the approval of the centr