Oil & Gas Q3 Results Preview - Revival Seen For Upstream, Oil Marketing Companies: ICICI Direct

BQ Prime’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BQ Prime’s subscribers an opportunity to expand their understanding of companies, sectors and the economy. .ICICI Direct Report.Domestic gas prices were revised from October 1 onwards from $6.1/metric million British thermal unit to $8.57/mmbtu on a gross calorific value basis for Oil and Natural Gas Coporation Ltd. Similarly, the ceiling price for Reliance Industries Ltd. was increased from $9.92/mmbtu to $12.46/mmbtu (GCV basis). Thus, net gas realisations of upstream companies are estimated to improve QoQ. On the crude oil front, oil prices declined in Q3 FY23 amid demand concerns from China. Average crude oil prices declined by $10.8/barrel of oil QoQ to $88.3/bbl. On a closing basis, crude oil prices were around $84.97/bbl. Fall in crude prices along with windfall taxes would cap the net oil realisation of upstream companies such as ONGC at ~$75/bbl..Click on the attachment to read the full report:.More Research Reports On Oil & Gas Q3 FY23 Earnings Preview.Subdued Quarter To Set The Tone For FY23E: Nirmal BangHigher Gas Cost Continues To Hurt Growth: SystematixA Sharp Turnaround From Q2: ICICI SecuritiesOperationally Strong Results Likely: Prabhudas Lilladher.DISCLAIMERThis report is authored by an external party. BQ Prime does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of BQ Prime..Users have no license to copy, modify, or distribute the content without permission of the Original Owner.

Oil & Gas Q3 Results Preview - Revival Seen For Upstream, Oil Marketing Companies: ICICI Direct

On the crude oil front, oil prices declined in Q3 FY23 amid demand concerns from China.

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