L&T gets orders from ONGC

The firm said that the orders fall under the “large” category, which means that they must be between Rs 2,500 crore and Rs 5,000 crore as per its classification of contracts

As ONGC Videsh drags its feet on the matter, Tehran has indicated it could come out with a licensing round for the development of the field by an Iranian contractor

The oil exploration company has already drilled over 500 wells in these areas, ONGC said in an application seeking clearance from the Environment Ministry

The integrated oil and gas company’s stock surged 115 percent following the past three days rise, against 52-week low price of Rs 79 hit in July 2018

Value of the contracts was in the "significant" category, which is supposed to be in the range of Rs 1,000 crore to Rs 2,500 crore, according to the company’s project classification

 Additionally, the overall crude oil production for the month of January stood at 2847.66 thousand metric tonnes (TMT), which was 11.85 percent lower than the target

Oil and gas explorer’s profit grew to Rs 8,263 crore in the quarter ended December 31, compared to Rs 5,014.67 crore in the same quarter last year