{"id":387084,"date":"2020-12-01T10:27:07","date_gmt":"2020-12-01T04:57:07","guid":{"rendered":"https:\/\/infralive.com\/web\/?p=387084"},"modified":"2020-12-01T10:27:07","modified_gmt":"2020-12-01T04:57:07","slug":"a-sustained-recovery-in-crude-prices-holds-the-key-for-ongc","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/a-sustained-recovery-in-crude-prices-holds-the-key-for-ongc\/","title":{"rendered":"A sustained recovery in crude prices holds the key for ONGC"},"content":{"rendered":"<p>Oil &amp; Natural Gas Corp. Ltd (ONGC) has been seeing declining profits lately. But rebounding oil prices have provided a ray of hope. The positive news flow on vaccine-related developments has meant that crude prices gained momentum. Since ONGC\u2019s earnings are directly linked to crude prices, its shares had gained about 21% in November.<\/p>\n<p>The outbreak of covid had led to a sharp fall in consumption of petroleum products globally, affecting the demand and prices of crude oil. Brent lost almost 44% during January-October. As the leading oil producer in India, ONGC too felt its impact, with its share price almost halving during the period.<\/p>\n<p>The rise in crude prices can boost ONGC\u2019s realizations and profits. ONGC saw a major impact during the June quarter, with per-barrel oil realizations plummeting to $28.7 compared to $49 in the March quarter (at a standalone level).<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Oil &amp; Natural Gas Corp. Ltd (ONGC) has been seeing declining profits lately. But rebounding oil prices have provided a ray of hope. The positive news flow on vaccine-related developments has meant that crude prices gained momentum. Since ONGC\u2019s earnings are directly linked to crude prices, its shares had gained about 21% in November. The outbreak of covid had led to a sharp fall in consumption of petroleum products globally, affecting the demand and prices of crude oil. Brent lost almost 44% during January-October. As the leading oil producer in India, ONGC too felt its impact, with its share price [&hellip;]<\/p>\n","protected":false},"author":44,"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-387084","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\/387084","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\/44"}],"replies":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/comments?post=387084"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/387084\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=387084"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=387084"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=387084"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}