February 12, 2018 / 5:29 AM / 12 days ago

BUZZ-India's ONGC jumps; Co's consortium wins stake in ADNOC's offshore oil concession

** Shares of Oil and Natural Gas Corp Ltd (ONGC) climb as much as 3.8 pct to 194.5 rupees, their highest since Feb 2

** Stock posts biggest intraday pct gain since Jan 23

** Co-led consortium wins stake in Abu Dhabi National Oil Co’s (ADNOC) 40-year offshore oil concession

** ADNOC signed an agreement on Saturday with ONGC Videsh-led consortium giving the group 10 pct stake in the new Lower Zakum offshore concession, with participation fee of 2.2 bln dirhams ($600 mln)

** Consortium includes Indian Oil Corp (IOC) and Bharat Petro Resources Ltd, an upstream arm of refiner Bharat Petroleum Corp (BPCL)

** BPCL down 2.2 pct, IOC 0.5 pct lower

** ONGC on Friday posted a smaller-than-expected rofit in the Dec qtr

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