{"id":376591,"date":"2020-10-03T11:51:55","date_gmt":"2020-10-03T06:21:55","guid":{"rendered":"https:\/\/infralive.com\/web\/?p=376591"},"modified":"2020-10-03T12:38:34","modified_gmt":"2020-10-03T07:08:34","slug":"ongc-oil-gas-under-recoveries-pegged-at-rs-7500-cr-in-fy21","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/ongc-oil-gas-under-recoveries-pegged-at-rs-7500-cr-in-fy21\/","title":{"rendered":"ONGC-OIL gas under-recoveries pegged at Rs 7,500 cr in FY21"},"content":{"rendered":"<p>With the government reducing the price of domestic natural gas to $1.79 per million British thermal units (mmBtu), analysts expect state-run gas producers Oil and Natural Gas Corporation (ONGC) and Oil India (OIL) to face losses of Rs 7,500 crore cumulatively in FY21 from their gas businesses. Under-recoveries from gas production in FY20 for ONGC-OIL were in the range of Rs 1,700 crore to Rs 2,000 crore, when average gas price was $3.5\/mmBtu, India Ratings said on Thursday. The average gas output cost of ONGC \u2014 which produces about 80% of the domestic natural gas \u2014 is $3.7\/mmBtu.<\/p>\n<p>Gas sales account for around 18%-19% of the companies\u2019 upstream revenues. Analysts at Moody\u2019s estimate ONGC\u2019s revenues and earnings before interest, tax, depreciation and amortisation (Ebitda) to decline by Rs 1,500 crore \u2013 Rs 1,600 crore on account of lower gas prices.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>With the government reducing the price of domestic natural gas to $1.79 per million British thermal units (mmBtu), analysts expect state-run gas producers Oil and Natural Gas Corporation (ONGC) and Oil India (OIL) to face losses of Rs 7,500 crore cumulatively in FY21 from their gas businesses. Under-recoveries from gas production in FY20 for ONGC-OIL were in the range of Rs 1,700 crore to Rs 2,000 crore, when average gas price was $3.5\/mmBtu, India Ratings said on Thursday. The average gas output cost of ONGC \u2014 which produces about 80% of the domestic natural gas \u2014 is $3.7\/mmBtu. Gas sales [&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":[130,195,138],"tags":[],"class_list":["post-376591","post","type-post","status-publish","format-standard","hentry","category-newspapers","category-oil-gas-the-financial-express","category-the-financial-express"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/376591","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=376591"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/376591\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=376591"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=376591"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=376591"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}