Coinpaper 2026-03-31 09:17:08

ONGC Share Price Rises as Daman Project Starts Gas Output

The share price of the largest government-owned oil and gas explorer and producer in India is up despite the generally bearish sentiment in the stock market. On Monday, the share price of Oil and Natural Gas Corporation Limited (ONGC) closed at ₹284.90 before the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE) halted trading on account of Mahavir Jayanti on Tuesday. The stock’s price is up 6.50% over the past five trading days and 0.96% over the past month. Daman Project Commences Gas Production The stock rallied as the state-owned company disclosed that it has commenced gas production from its Daman Upside Development Project in the Arabian Sea. This comes amid global disruptions caused by the geopolitical conflict in the Middle East. “It is hereby informed that, the Daman Upside Development Project (DUDP), in the western offshore, located about 180 Kms north west of Mumbai and about 80 Kms south of Pipavav, Gujarat, with Capex of about USD 1 billion has achieved a significant milestone on 29.03.2026 by monetisation through flowing gas from Platform B-12-24P,” ONGC stated in a regulatory filing dated March 29. The company said that the B-12-24P platform has now delivered gas to ONGC’s Hazira processing plant less than two years from the time of contract award. Bolstering India’s Domestic Energy Supply The development is anticipated to bolster the nation’s domestic energy supply as the International Energy Agency forecasts that India’s gas demand will increase by 60% to reach 103 billion cubic meters per year by 2030. “This has been achieved through strong project execution, innovative use of the Drill-Deck and strong performance by drilling and Production teams. This milestone marks the commencement of gas monetisation from the DUDP Project. Production from all wells will be ramped up in a phased manner,” ONGC said.

En Okunan haberler

‘Get Out’ While Bitcoin is Still Above $65k,...
2026-03-31
US Gas Price Hits $4 as Europe Gas Rally Tops...
2026-03-31
Banking and crypto encryption at greater risk...
2026-03-31
Traders Bet On Ethereum Falling Behind Stable...
2026-03-31
Technical Analyst: XRP is the Google of Crypt...
2026-03-31
CoinDCX plans anti-fraud push after founders...
2026-03-31
Tokenized Uranium Lending Launches via Metals...
2026-03-31
Ripple Moves Closer to Bank Approval as New U...
2026-03-31

Feragatnameyi okuyun : Burada sunulan tüm içerikler web sitemiz, köprülü siteler, ilgili uygulamalar, forumlar, bloglar, sosyal medya hesapları ve diğer platformlar (“Site”), sadece üçüncü taraf kaynaklardan temin edilen genel bilgileriniz içindir. İçeriğimizle ilgili olarak, doğruluk ve güncellenmişlik dahil ancak bunlarla sınırlı olmamak üzere, hiçbir şekilde hiçbir garanti vermemekteyiz. Sağladığımız içeriğin hiçbir kısmı, herhangi bir amaç için özel bir güvene yönelik mali tavsiye, hukuki danışmanlık veya başka herhangi bir tavsiye formunu oluşturmaz. İçeriğimize herhangi bir kullanım veya güven, yalnızca kendi risk ve takdir yetkinizdedir. İçeriğinizi incelemeden önce kendi araştırmanızı yürütmeli, incelemeli, analiz etmeli ve doğrulamalısınız. Ticaret büyük kayıplara yol açabilecek yüksek riskli bir faaliyettir, bu nedenle herhangi bir karar vermeden önce mali danışmanınıza danışın. Sitemizde hiçbir içerik bir teklif veya teklif anlamına gelmez