4 days ago
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State-owned explorer and shaper Oil and Natural Gas Company (ONGC)’s standalone nett net successful the March-end 4th accrued 3.1% from the comparable play past twelvemonth supported by amended crude terms realisations.
The Delhi-headquartered explorer-producer posted a standalone nett net of ₹6,650 crore, compared to ₹6,448 crore it had posted successful the aforesaid 4th past year.
Crude terms realisation, that is, the terms an explorer-producer receives for each tube of crude lipid extracted, accrued 6.2% from the comparable play past twelvemonth to $78.32 per tube successful the reported quarter.
ONGC’s gross gross accrued 2.7% to ₹35,927 crore during the mentioned period.
Alongside the results, ONGC besides declared a dividend of ₹1 per equity stock taxable to shareholder support astatine the yearly wide gathering (AGM).
As for the carnal performance, ONGC’s crude lipid production, connected a standalone level, declined 5.3% connected a year-over-year ground to 4.449 MMT successful the March-end quarter.
Natural Gas accumulation besides declined astir 2.3% to astir 4.78 cardinal Cubic Meters during the mentioned period.
“Geological surprises arising retired of reservoir complexities affected the accumulation from 98/2 Field successful Eastern Offshore. West Asia situation besides affected pipeline replacement task and DUDP task affecting the lipid and state accumulation from Western Offshore,” it stated, adding, “Further, immoderate accumulation got affected for a little spell of clip owed to hook up cognition of pipeline, compressor and turbines successful 2 existing wells and aboveground facilities successful Western offshore.”
