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ONGC Q1 Profit Rises 18% as 35-Year Drilling High Unlocks New Finds

19Apr

By Newscript News NetworkNo Comments

ONGC Q1 Profit Rises 18% as 35-Year Drilling High Unlocks New Finds

By Newscript News Network August 22, 2025 Oil and Natural Gas Corporation (ONGC) began FY26 with strong operational momentum. Consolidated net profit rose 18.2% to ₹11,554 crore, backed by a high-intensity drilling programme—578 wells in FY25, the most in 35 years—yielding nine new hydrocarbon discoveries across Mumbai Offshore, the Krishna-Godavari basin, and onshore plays. Output nudged higher: standalone crude oil rose 1.2% to 4.683 MMT, while gas held at 4.846 BCM. Near-term monetisation levers are already in play. The PY-3 joint venture field has restarted production and CBM Bokaro’s North Karanpura block began gas sales in May 2025, contributing more than ₹1,700 crore in revenue at a premium $8.26/mmbtu—~20% above APM. Diversification continues with a ₹39.42 crore helium re...

Crude Prices Slip as Markets Seek Balance

19Apr

By Newscript News NetworkNo Comments

Geopolitics, News Update

Crude Prices Slip as Markets Seek Balance

By Pallab Bhattacharya Newscript, August 18, 2025 Global oil benchmarks edged lower in Monday’s Asian session, extending last week’s pullback amid calming geopolitical jitters. West Texas Intermediate was quoted at $62.64 a barrel, down 0.26 per cent, while Brent crude hovered at $65.60, down 0.37 per cent. The softening reflects a tentative equilibrium between producers and markets following assurances that Russian crude would not face immediate new sanctions. Traders also point to subdued demand signals from Asia’s industrial economies, with China’s slowing manufacturing output contributing to the bearish tone. For India, the world’s third-largest oil importer, the dip offers a rare reprieve. The country’s import bill crossed $137bn last year, exposing the economy to exchang...

19Apr

By Newscript News NetworkNo Comments

News Update

Reliance eyes higher ARPU, new bets in beverages

By Newscript News Network August 21, 2025 Reliance Industries Ltd. (RIL) has recalibrated its telecom play by discontinuing Jio’s ₹249 entry-level plan, nudging customers towards the ₹299 base pack offering 1.5 GB/day. The move lifted RIL shares 2.17% to ₹1,411, with analysts predicting a boost to average revenue per user (ARPU). “Tariff rationalisation is essential for long-term profitability,” said a Mumbai-based telecom consultant. Beyond telecom, Reliance Consumer Products Ltd. (RCPL) acquired a majority stake in Naturedge Beverages to strengthen its herbal and natural drinks portfolio. In a separate corporate update, Reliance NeuComm, a subsidiary registered in Texas, has been voluntarily wound up. The diversified bets highlight RIL’s dual focus – driving telecom monetisa...

19Apr

By Newscript News NetworkNo Comments

News Update

Daily News Updates

By Team Newscript August 8, 2025 India Energy News Oil India–IREL MoU: a strategic bet on rare earths Oil India Ltd (OIL) has signed an MoU with IREL (India) Ltd to co-develop critical minerals and rare earths, a move that dovetails with New Delhi’s push to de-risk clean-tech supply chains. The tie-up signals an intent to move beyond upstream hydrocarbons into strategic ores used in magnets, EVs and wind turbines. While commercial terms weren’t disclosed, the ministries that oversee the firms (Petroleum & Natural Gas; Atomic Energy) position this as part of the national critical minerals mission. Expect joint work on exploration, beneficiation and processing—areas where India seeks to compress learning curves historically dominated by China. Oyster Renewables: ₹16,000 ...

19Apr

By Newscript News NetworkNo Comments

News Update, Power

M&A and IPO surge in power sector

By Newscript News Network August 21, 2025 The Indian power sector led mergers and acquisitions (M&A) in H1 2025 with $8.5 billion worth of deals, 80% of which were in renewable energy. Strategic transactions accounted for 85% of activity. At the same time, the IPO pipeline is heating up, with renewable companies preparing market debuts worth over ₹25,000 crore. Analysts expect strong investor appetite given India’s role as a growth leader in clean energy. “India offers scale, policy support, and attractive returns,” said a banker involved in one of the upcoming IPOs.

IOC Plans India’s Largest Green Hydrogen Plant at Panipat

19Apr

By Newscript News NetworkNo Comments

News Update

IOC Plans India’s Largest Green Hydrogen Plant at Panipat

By Newscript News Network August 20, 2025 Indian Oil Corporation (IOC) will build India’s largest green hydrogen facility at Panipat, targeting 10,000 tonnes/year by December 2027. The ₹2 trillion refinery hydrogen programme aims to decarbonise refining and create clean fuel markets. “This will be a defining moment,” said IOC Chairman S.M. Vaidya. Analysts noted IOC’s leadership puts it ahead of peers BPCL and HPCL, aligning with global majors like Aramco. Challenges include electrolyser costs and infrastructure gaps, but the project is seen as a national model for large-scale hydrogen integration.

Lloyds Metals Secures Tandsi-III Coking Coal Mine

19Apr

By Newscript News NetworkNo Comments

News Update

Lloyds Metals Secures Tandsi-III Coking Coal Mine

By Newscript News Network August 20, 2025 Lloyds Metals & Energy has secured the Tandsi-III and Tandsi-III extension coking coal mines, with 23 million tonnes of reserves across Madhya Pradesh and Maharashtra. The acquisition, won with a 10.5% premium, strengthens Lloyds’ raw material security for steel. “India’s steelmakers are heavily import-dependent. This acquisition reduces our vulnerability,” said a company official. Analysts say Lloyds is following integrated strategies of Tata Steel and JSW. Environmentalists argue coal expansion undermines climate goals, but policymakers defend it as vital for steel competitiveness.

Government sets 500 GW target, renewables dominate investments

19Apr

By Newscript News NetworkNo Comments

News Update, Renewables

Government sets 500 GW target, renewables dominate investments

By Newscript News Network August 21, 2025 India’s installed power capacity reached 476 GW as of June 2025, with thermal at 240 GW and renewables at 110.9 GW. The government aims to add 50 GW of non-fossil fuel capacity annually to reach 500 GW by 2030. The 4th Biennial Update Report to the UNFCCC confirmed a 7.93% reduction in greenhouse gas emissions, signalling progress toward India’s climate commitments. “India is now the world’s fourth-largest renewable energy market,” said a senior official at the Ministry of New and Renewable Energy (MNRE). Over $4 billion in FDI flowed into India’s clean energy sector in the past year.

Engineers India bags contracts, records decade-high profits

19Apr

By Newscript News NetworkNo Comments

ESG, News Update

Engineers India bags contracts, records decade-high profits

By Newscript News Network August 21, 2025 Engineers India Ltd (EIL) secured a ₹1,200 crore project management consultancy (PMC) contract for a new academic institute and a ₹222 crore contract for HPCL’s lube modernization. EIL posted Q4 FY25 profits of ₹243 crore, 2.5 times higher year-on-year, while full-year profits rose 30% to a decade-high of ₹465 crore. Its ₹11,700 crore order book now includes 45% from non-oil & gas sectors. “This diversification is positioning EIL as more than just a hydrocarbon consultant,” said a Delhi-based infrastructure expert.

Hygenco Starts Green Ammonia Project in Odisha

19Apr

By Newscript News NetworkNo Comments

News Update

Hygenco Starts Green Ammonia Project in Odisha

By Newscript News Network August 20, 2025 Hygenco Green Energies has started construction of a green ammonia facility at Gopalpur, Odisha, targeting 1.1 million tonnes/year in three phases by 2030. The project recently secured EU RED III certification, critical for exports to Europe. “Green ammonia will be critical for fertilisers, shipping, and exports,” said CEO Amit Bansal. Analysts see Hygenco as positioned to tap Europe’s $50bn ammonia import market. Challenges include renewable sourcing and costs, but Odisha’s location offers logistical benefits.