2 hours ago
HomeMarket NewsStocks NewsONGC arm OPaL says Dahej plant output hit by gas supplier force majeure amid West Asia conflict
The company said it received a force majeure notice from its gaseous feed suppliers following shutdowns caused by the unavailability of rich LNG supplies. Shares of Oil and Natural Gas Corporation Ltd ended at ₹276.35, down by ₹0.70, or 0.25%, on the BSE today, March 5.
ONGC PetroAdditions Ltd (OPaL), a subsidiary of the state-owned Oil and Natural Gas Corporation (ONGC), on Thursday (March 5) reported production and supply disruptions at its Dahej plant due to a complete cut-off of gaseous feed and limited liquid feedstock caused by the ongoing war in West Asia, which has disrupted vessel movements through the Strait of Hormuz.
The company said it received a force majeure notice from its gaseous feed suppliers following shutdowns caused by the unavailability of rich LNG supplies. As a result, cracker plant operations have been significantly reduced, causing a cascading effect on downstream petrochemical production.
During this period, all dispatches and shipments to and from the Dahej facility will be affected. OPaL added that the potential impact of the force majeure situation on its overall operations cannot yet be quantified. The company is closely monitoring the situation and will continue to update stock exchanges on any material developments.
Also Read: ONGC, Oil India shares gain after oil spike on Iran war; Here's what JPMorgan recommends
Third quarter results
ONGC's consolidated net profit rose 23% year-on-year to ₹11,946 crore in Q3FY26, compared with ₹9,747 crore a year ago, according to the state-owned firm's release on exchanges. Gross revenue for the quarter stood at ₹1,67,423 crore, broadly flat versus ₹1,67,213 crore in the year-ago period.
For the nine months ended December, net profit climbed nearly 23% to ₹36,115 crore, while gross revenue came in at ₹4,88,442 crore. Profit attributable to owners rose 17% year-on-year in Q3 to ₹10,016 crore.
A key earnings driver has been higher realisations from new well gas. During 9MFY26, revenue from new well gas crossed ₹5,028 crore, generating an incremental ₹944 crore over the administered price mechanism (APM) gas price. New well gas now contributes over 18% of ONGC’s total gas sales revenue, a structural shift in the company’s gas portfolio.
Also Read: ONGC gains after CLSA, Jefferies reiterate Buy; brokerages flag record dividend payout
Shares of Oil and Natural Gas Corporation Ltd ended at ₹276.35, down by ₹0.70, or 0.25%, on the BSE today, March 5.
(Edited by : Shoma Bhattacharjee)
