Oil And Gas Archives - Newscript EnergyWorld

19Apr

By Newscript News NetworkNo Comments

Oil & Gas Industry

ONGC Fights the Crude Reality Check

ONGC’s latest results presented a mixed picture for investors. Standalone net profit fell 10.2% to ₹8,024 crore in the June quarter, reflecting weaker crude prices that dropped from $83.05 to $66.13 per barrel year-on-year. Revenues from oil declined, and earnings per share at ₹6.38 came in below analyst expectations. The consolidated numbers told a different story. Net profit across the group rose 18.2% to ₹11,552 crore, supported by stronger natural gas realisations and incremental output from new wells, particularly offshore. Higher government-administered gas prices boosted revenues, partly offsetting the crude decline. Shareholders reacted positively despite the headline fall. ONGC’s stock rose 1.27%, suggesting confidence in the company’s long-term production strategy. The ...

Why Energy Journalism Matters More Than Ever

19Apr

By Pallab BhattacharyaNo Comments

Opinion

Why Energy Journalism Matters More Than Ever

Four decades of covering energy markets teaches you one thing: complexity never simplifies, it just shifts. I began as a journalist in Kolkata when energy meant keeping lights on. Two decades later, I joined ONGC for another twenty years—learning how boardroom strategies translate into operational reality. Training across India and Europe on energy transition revealed a truth: everyone’s improvising, some just do it more elegantly. Today’s energy paradoxes fascinate me. Shell invests billions in renewables while expanding oil operations. Governments promise net-zero while securing gas imports. Solar costs collapse, yet grid infrastructure requires trillions. This isn’t contradiction—it’s transformation at civilizational scale. Newscript Energy World was conceived for this momen...

HPCL profits from slate agility and downstream efficiency

19Apr

By Newscript News NetworkNo Comments

ESG

HPCL profits from slate agility and downstream efficiency

Hindustan Petroleum Corporation Ltd (HPCL) surprised with a tenfold jump in quarterly profit to ₹4,371 crore, as marketing margins improved and throughput reached record highs. Visakh and Mumbai refineries together processed 6.66 million tonnes in Q1, operating above 109% utilisation. The company’s edge lies in crude-sourcing agility. Chairman Vikas Kaushal confirmed HPCL is actively scouting non-Russian barrels to cushion against narrowing discounts and sanctions. “Alternative crudes will be critical to hedge volatility,” he said, signalling a portfolio approach more typical of global traders than Indian PSUs. On operations, HPCL has invested in advanced process controls, waste heat recovery, and energy management systems. Fuel and loss were trimmed to 6.88%, a record low. Analysts ...

ONGC’s ₹4,606cr Bet on the Bay: How a Slice of the Krishna–Godavari Basin Could Fuel India’s Energy Push

19Apr

By Newscript News NetworkNo Comments

Corporate Watch

ONGC’s ₹4,606cr Bet on the Bay: How a Slice of the Krishna–Godavari Basin Could Fuel India’s Energy Push

By Pallab Bhattacharya Newscript, August 12, 2025 Fig.1: Arms Of Urja Oil and Natural Gas Corporation’s latest move is not a mega-field gamble but a calculated strike on two modest offshore blocks that could quietly strengthen India’s energy security. The ₹4,606.35 crore investment in Andhra Pradesh’s Chandrika and GS-49 fields, sitting under the shallow waters of the Bay of Bengal, is about squeezing proven reserves with precision rather than chasing headline-grabbing wildcats. Ten wells, two unmanned platforms, a pipeline to shore, and an expanded onshore terminal at Odalarevu form the skeleton of the project. If all goes to plan, first gas could flow by the latter half of the decade. But before any drill bit turns, the project must pass its first—and potentially slowest—tes...

BPCL: From Refiner to Integrated Energy Innovator

19Apr

By Pallab BhattacharyaNo Comments

News Update

BPCL: From Refiner to Integrated Energy Innovator

Bharat Petroleum Corporation Limited is emerging as the most innovative of India’s state refiners, leveraging efficiency gains and diversification to carve out a stronger position. Its recent award of a five-month crude oil tender to Glencore for U.S. barrels highlights a willingness to experiment with sourcing that goes beyond the cautious approaches of IOC and HPCL. The procurement move is not merely about diversification—it reflects a strategy to give BPCL greater flexibility in blending crudes that enhance refining margins. Analysts note that U.S. crude grades complement its plant configurations, enabling it to outperform rivals on yields and efficiency. Parallel to procurement agility, BPCL is investing heavily in petrochemicals, with new complexes at Bina and Kochi. This downst...

Indian Oil: Transparency Push and Fuel Transition Challenges

19Apr

By Newscript News NetworkNo Comments

News Update

Indian Oil: Transparency Push and Fuel Transition Challenges

By Team Newscript August 18, 2025 Indian Oil Corporation, India’s largest refiner, is attempting to redefine its engagement with investors and policymakers at a time of shifting global energy flows. Its Q1 FY26 earnings call, scheduled earlier this week, was emblematic of this approach—senior management fielded questions not only on financial performance but also on procurement strategy, energy transition initiatives and capital allocation. The company is under mounting pressure to reduce its reliance on Middle Eastern suppliers, which still account for the bulk of its imports. Officials highlighted strategic procurement shifts, including a greater role for U.S. and African crudes. These moves mirror a global trend among refiners seeking to insulate themselves from geopolitics, b...

Indian Oil balances volatile margins with LNG hedges and Russian barrels

19Apr

By Newscript News NetworkNo Comments

Oil & Gas Industry

Indian Oil balances volatile margins with LNG hedges and Russian barrels

Indian Oil Corporation (IOC), India’s largest refiner, saw profit pressure in the June quarter as marketing margins fluctuated and inventory losses weighed. Revenues held near ₹2.22 trillion, but the numbers underlined how exposed state refiners remain to crack spreads and regulatory discipline. Operationally, IOC is leaning on term LNG contracts indexed to Henry Hub to hedge against volatile spot prices. Earlier this year it signed a five-year supply arrangement with Trafigura, ensuring baseload gas for its captive power and city-gas distribution. The company has also resumed purchases of discounted Russian oil as arbitrage widened, trimming feedstock costs at coastal refineries. Executives argue flexibility is key. “Securing a diverse crude basket is central to operational stabilit...

US–Russia Talks Ease Oil Market Tensions

19Apr

By Pallab BhattacharyaNo Comments

Geopolitics, News Update

US–Russia Talks Ease Oil Market Tensions

A weekend round of diplomatic engagement between Washington and Moscow has soothed one of the biggest risks hanging over global oil markets: fresh sanctions on Russian energy exports. US officials signalled that no immediate measures would be taken to curb Russian crude shipments, while Moscow agreed to resume technical discussions on pricing and transit. The apparent thaw has calmed traders who feared renewed confrontation could choke off supplies and push Brent well past $70. The reprieve comes at a critical juncture. Europe remains heavily reliant on Russian oil even after diversification efforts, and Asian refiners—particularly India and China—have been pivotal in absorbing flows displaced from Western buyers. The US stance buys time for markets to adjust, though observers stress...

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

19Apr

By Newscript News NetworkNo Comments

News Update, Oil & Gas Industry

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...