Rating agency Standard and Poor’s on Tuesday said state-owned Oil and Natural Gas Corporation Ltd’s (ONGC) improved earnings outlook for the next 12-18 months will support deleveraging.<\/p>\n
“We expect the India-based company to benefit from favorable crude oil prices over FY22 (year ending March 31, 2022),” S&P said in a statement. <\/p>\n
“It is rated at “BBB-\/Stable”. Our ‘BBB-‘ issuer credit rating on ONGC remains constrained by the sovereign credit rating on India (BBB-\/Stable\/A-3),” the agency added.<\/p>\n
The rating agency has revised Brent crude oil price expectations for the rest of 2021 to $65 per barrel from $60 per barrel earlier. This forecast is significantly higher than about $43 per barrel that ONGC realised in FY21.<\/p>\n","protected":false},"excerpt":{"rendered":"
Rating agency Standard and Poor’s on Tuesday said state-owned Oil and Natural Gas Corporation Ltd’s (ONGC) improved earnings outlook for the next 12-18 months will support deleveraging. “We expect the India-based company to benefit from favorable crude oil prices over FY22 (year ending March 31, 2022),” S&P said in a statement. “It is rated at “BBB-\/Stable”. Our ‘BBB-‘ issuer credit rating on ONGC remains constrained by the sovereign credit rating on India (BBB-\/Stable\/A-3),” the agency added. The rating agency has revised Brent crude oil price expectations for the rest of 2021 to $65 per barrel from $60 per barrel earlier. […]<\/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":[135,130,169],"tags":[],"class_list":["post-423215","post","type-post","status-publish","format-standard","hentry","category-business-standard-newspapers","category-newspapers","category-oil-gas-business-standard-newspapers"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/423215","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=423215"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/423215\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=423215"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=423215"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=423215"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}