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ONGC earnings likely to get a 22-25% boost

ONGC earnings likely to get a 22-25% boost
ONGC earnings likely to get a 22-25% boost
At present, the domestic gas prices are computed based on volume weighted prices of the global benchmarks such as Henry Hub of the US, National Balancing Point of the UK, Canada and Russia with a quarter’s lag.

Synopsis

The revenue from gas sales accounted for 16-24% of the company’s total revenue in the past ten years. A higher gas realisation therefore augurs well for the company’s profitability and cash flow.

ET Intelligence Group: The union government’s proposal to change the benchmark of the domestic producer gas prices may lift the average gas realization by 50-60% for Oil and Natural Gas Corporation (ONGC), India’s largest oil and gas explorer. The revenue from gas sales accounted for 16-24% of the company’s total revenue in the past ten years. A higher gas realisation therefore augurs well for the company’s profitability and cash flow.The
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