ONGC / Q3-FY25 / risks

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Ongc · Material risks, their source context, and severity in the latest available quarter.

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PositiveQ3-FY25 · 2025-02-25Back to quarter ↗

Risk intelligence

Material risks this quarter

KG-DWN-98/2 gas ramp-up delays

Gas production ramp-up from KG-DWN-98/2 may be delayed due to weather conditions in the East Coast and installation timelines for remaining structures.

medium

Petrochemical downcycle impacting OPaL

OPaL's margins remain under pressure from the petrochemical downcycle, with ethylene-naphtha spreads at $300-350/ton, though gas allocation and SEZ exit may help.

medium

Russian dividend repatriation stuck

About $250 million of dividends from Russian projects are stuck in Russian banks due to sanctions, with no clear timeline for repatriation.

low

Renewable energy execution risk

ONGC's late entry into renewables may face execution challenges; management acknowledged being a 'second mover' and targets 10 GW by 2030, which is ambitious given current capacity of 193 MW.

medium