Oil and gas sector looks promising with decline in crude prices: Pankaj Pandey

In a chat with ET Now, Pankaj Pandey, HoR, ICICIdirect.com, shares his views on the oil and gas sector.

ET Now: In the oil and gas space, ONGC, Reliance and other OMCs were under pressure in yesterday's session. What is the call there?

Pankaj Pandey: Within the government regulated sectors, oil and gas looks the most promising and with the decline in crude oil prices, things are getting better for most of the players.

As of now, we have a preference or a bias towards upstream players but going forward, as crude prices decline, the downstream players should also do well, which is where we would prefer something like IOC and HPCL. Thus , the bias is more towards upstream players like ONGC and Oil India.