{"id":301375,"date":"2019-11-18T12:00:45","date_gmt":"2019-11-18T06:30:45","guid":{"rendered":"http:\/\/infralive.com\/web\/?p=301375"},"modified":"2019-11-18T12:14:30","modified_gmt":"2019-11-18T06:44:30","slug":"ongc-production-disappoints-in-q2-higher-crude-oil-prices-are-key","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/ongc-production-disappoints-in-q2-higher-crude-oil-prices-are-key\/","title":{"rendered":"ONGC production disappoints in Q2; higher crude oil prices are key"},"content":{"rendered":"<p>MUMBAI : State-run oil and gas producer Oil and Natural Gas Corp. Ltd\u2019s (ONGC\u2019s) September quarter results did not impress the Street. Even as the company\u2019s stand-alone net profit of \u20b96,263 crore was in line with the estimates of a Bloomberg poll of analysts, there were some disappointing factors.<\/p>\n<p>Stand-alone net crude oil price realizations declined by 17% year-on-year to $60.33 a barrel, disappointing some analysts. Crude oil realization was lower sequentially as well, declining by 9%. Moreover, production performance was rather discouraging. ONGC\u2019s total crude oil and gas production declined 4% and 2%, respectively, on a year-on-year basis. \u201cOil production has seen year-on-year decline in successive eight quarters while this is the first decline seen in gas production in 13 quarters,&#8221; said analysts at Centrum Broking Ltd in a report on 15 November.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>MUMBAI : State-run oil and gas producer Oil and Natural Gas Corp. Ltd\u2019s (ONGC\u2019s) September quarter results did not impress the Street. Even as the company\u2019s stand-alone net profit of \u20b96,263 crore was in line with the estimates of a Bloomberg poll of analysts, there were some disappointing factors. Stand-alone net crude oil price realizations declined by 17% year-on-year to $60.33 a barrel, disappointing some analysts. Crude oil realization was lower sequentially as well, declining by 9%. Moreover, production performance was rather discouraging. ONGC\u2019s total crude oil and gas production declined 4% and 2%, respectively, on a year-on-year basis. \u201cOil [&hellip;]<\/p>\n","protected":false},"author":40,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[139,130,187],"tags":[],"class_list":["post-301375","post","type-post","status-publish","format-standard","hentry","category-live-mint","category-newspapers","category-oil-gas-live-mint"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/301375","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/users\/40"}],"replies":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/comments?post=301375"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/301375\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=301375"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=301375"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=301375"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}