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S&P Global Ratings stated that increased investments by Oil and Natural Gas Corp (ONGC) will slow its deleveraging over the next 12-24 months, affecting its bbb+ standalone credit profile. Despite a 2-3% drop in domestic production and lower realizations in FY2024, ONGCs EBITDA rose to Rs 1.1 lakh crore due to strong performance from subsidiaries MRPL and HPCL. S&P forecasts EBITDA to remain around Rs 1 lakh crore for FY2025 and FY2026, supported by increased production from the Krishna ...

ONGC News: The firms production volumes should rise gradually over fiscal years 2025 (April 2024 to March 2025) and FY2026 as the company scales up oil and gas production from its block in the Krishna Godavari (KG) basin in India.

ONGC will 'buy back compulsory convertible debentures of Rs 7,778 crore'

Indian shares were slightly higher on Friday despite weak cues from global markets. The benchmark S&P BSE Sensex was up 197 points, or 0.3 percent, at 66,462 in early trade while the broader NSE Nifty index was up 47 points, or 0.

Stocks to watch: Shares of firms like ONGC, Tata Steel, HCL Tech, LTIMindtree, Mazagon Dock, and others will be in focus on Friday's trade.

Oil and Natural Gas Corporation (ONGC) will invest approximately Rs 15,000 crore in ONGC Petro-additions Ltd (OPaL) as part of a financial restructuring plan, resulting in GAIL being edged out of the petrochemical firm. ONGC currently holds a 49.36% stake in OPaL, with GAIL (India) Ltd holding 49.21% and Gujarat State Petrochemical Corp holding the remaining 1.43%.

GAIL and GSPC will now together hold close to 5 per cent in OPaL post-financial restructuring.

Oil And Natural Gas Corporation: The proposal approved includes "conversion of share warrants issued by OPaL and subscribed by ONGC into equity shares upon payment of final call money of INR 86.281 crore at the rate of INR 0.25 per warrant," it said.

New Delhi: Oil and Natural Gas Corporation (ONGC) will inject about Rs 15,000 crore in OPaL as part of a financial restructuring exercise.

Independent Assurance Statement Assurance Statement on Business Responsibility & Sustainability Report of Oil and Natural Gas Corporation Limited ...