ongc oil india hindustan oil exploration company trade mixed as centre increases natural gas price

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ONGC, Oil India and Hindustan Oil Exploration Company- the large listed upstream lipid companies successful the state traded mixed aft the centre connected Monday raised the terms of earthy state produced from hard areas similar heavy oversea KG-D6 artifact of Reliance Industries, marginally to USD 10.16 per cardinal British thermal portion successful enactment with planetary trends, an authoritative notification said.

At the past number shares of ONGC traded anemic by 0.4 per cent astatine Rs 296.8 per share, Oil India was down by 0.23 per cent astatine Rs 578.9 and Hindustan Oil Exploration Company traded with insignificant gains of 0.19 per cent astatine Rs 231.7 per share.

Primarily, a emergence successful earthy state prices is affirmative for upstream lipid producers arsenic each $1 summation successful state prices shoots up the EBITDA levels for ONGC and Oil India.

For the six months starting October 1, the terms of state from heavy oversea and high-pressure, high-temperature (HPTP) areas has been raised to USD 10.16 per mmBtu from USD 9.87 per mmBtu during April-September, lipid ministry's Petroleum Planning and Analysis Cell (PPAC) said successful a notification.

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