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

22Aug

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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...

Indigenous Manufacturing Push

By Pallab Bhattacharya Newscript, August 16, 2025 A quiet revolution is underway in India’s clean energy supply chain. Companies like L&T and InSolare Energy are spearheading efforts to localise manufacturing, reducing dependence on imports and building domestic capability. L&T has emerged as India’s only large-scale manufacturer of alkaline electrolysers, with a supply chain entirely within India. This gives it a strategic edge as global electrolyser markets tighten amid rising demand. InSolare, meanwhile, is leveraging in-house electrolyser technology and indigenous module manufacturing to build a vertically integrated platform. Policymakers see localisation as essential for both energy security and job creation. Incentives under the PLI schemes are accelerating ...

India Energy News

By Team Newscript, August 14, 2025 Thermal and Renewable Power: AUSC Coal Projects Hit Approval Roadblocks India’s ambitions to modernise its ageing coal fleet with advanced ultra-supercritical (AUSC) technology are running into bureaucratic delays. Announced in the Union Budget 2024–25, the projects were intended to replace over 130GW of coal capacity nearing 30 years of service. Industry executives say AUSC units, which operate at higher efficiency and lower emissions than conventional plants, are critical to meeting both energy security and climate commitments. However, multiple projects remain stuck awaiting environmental clearance and final techno-economic approvals. Developers warn that the cost of delay is twofold: rising maintenance bills for ageing units and a missed op...