New Delhi: State-owned Oil and Natural Gas Corporation (ONGC) is likely to see a USD 3 billion (about Rs 23,000 crore) rise in its annual earnings from the more than doubling of the price of natural gas it produces, while Reliance Industries may get USD 1.5 billion (Rs 11,500 crore) more in revenue, a report […]
Natural gas production in 2019-20 was 85 mmscmd, which is estimated to have fallen to 80 mmscmd in the following year, HDFC Securities said in a report.
Oil and Natural Gas Corporation had budgeted Rs 32,502 crore of capital spending in the fiscal from April 2020 to March 2021 but ended up spending only Rs 26,441 crore
ONGC intends to start natural gas sale from its KG-DWN-98/2 block, which sits next to Reliance Industries Ltd (RIL)-BP Plc operated KG-D6 fields, from June-end.
ONGC is likely to inch up marginally to $1.82 next week while the same for difficult fields like one operated by Reliance-BP may fall below $4, sources said.