Oil and Natural earnings calls.

ONGC delivered an exceptional Q1 FY27 with standalone revenue of ₹46,460 croreCurrent reported value: ₹46,460 crore. No comparable prior figure is available in the source record. (+45Current reported value: 45. No comparable prior figure is available in the source record.% YoY) and PAT of ₹17,034 croreCurrent reported value: ₹17,034 crore. No comparable prior figure is available in the source record. (+112Current reported value: 112. No comparable prior figure is available in the source record.% YoY), driven by higher crude price realizations at $99.45/bbl. The consolidated PAT of ₹6,554 crore was impacted by HPCL's ₹2,012.65 crore loss due to under-recoveries from the West Asia crisis. New well gas contributed 38% of nomination gas revenue, reaching nearly ₹4,000 crore with ₹1,900 crore incremental realization. The three transformational themes—gas portfolio migration, Western Offshore renewal via TSP with BP (40,000 crore capex), and deep water exploration under the Samudra Mangalan scheme (₹84,084 crore government outlay)—position ONGC for sustained growth. Near-term production challenges in KG 98X2 (reservoir complexity) and execution-related interruptions in Western Offshore are expected to normalize by Q4 FY27, with the full-year standalone production guidance of 39 MMTCurrent 39 MMT. Reported change: +1.1 MMT vs FY26. (oil+gas) and 40 MMT for FY28.