ONGC's Q2FY18 results came in-line with estimates as higher than expected dry well write-offs was offset by more than expected other income. Oil/gas production volume continued to keep uptrend and grew 1%/8% YoY to 6.5mmt/6.3bcm. The company has guided for a robust 4.8%/27% oil/gas volume growth in FY19 over FY17 to 26.2mmt/29.5bcm. Conservatively, we are keeping oil production volume stable while raising gas volume by 3%/8% during FY18/FY19 to 25.5mmt for oil and 25.3bcm/27.3bcm for...