State-owned exploration and manufacturing firm Oil and Pure Gasoline Company (ONGC)’s standalone internet revenue rose 3.1% year-on-year within the March-end quarter, supported by improved crude oil value realization.
The Delhi-headquartered explorer and producer’s standalone internet revenue stood at Rs 6,650 crore, in comparison with Rs 6,448 crore within the year-ago interval.
Crude oil value realization, or the value that explorers and producers obtain for every barrel of oil extracted, rose 6.2% 12 months over 12 months to $78.32 per barrel within the reported quarter.
ONGC’s complete income elevated by 2.7% to Rs 35,927 crore in the course of the above interval.
Along with this end result, ONGC additionally introduced a dividend of ₹1 per share, topic to shareholder approval on the Annual Basic Assembly (AGM).
When it comes to bodily efficiency, ONGC’s crude oil manufacturing, at standalone stage, declined 5.3% year-on-year to 4.449 MMT within the March-end quarter.
Pure gasoline manufacturing additionally decreased by roughly 2.3% in the course of the interval, to roughly 4.78 billion cubic meters.
“Geological anomalies ensuing from reservoir complexity affected manufacturing from the 98/2 discipline within the jap offshore. The West Asia disaster additionally affected pipeline alternative initiatives and DUDP initiatives that affected oil and gasoline manufacturing within the western offshore,” the report mentioned, including, “Moreover, some manufacturing was affected for a brief interval as a consequence of coupled operation of pipelines, compressors and generators at two current wells and floor services within the western offshore.”
