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ONGC

Oil and Natural Gas Corporation (ONGC) is a multinational oil and gas company. It is a Public Sector Undertaking (PSU) of the government of India, under the administrative control of the Ministry of Petroleum and Natural Gas. Maharatna ONGC is the largest producer of crude oil and natural gas in India, contributing around 70 per cent of Indian domestic production.

 

 

The crude oil is the raw material used by downstream companies such as IOC, BPCL, HPCL to produce petroleum products like Petrol, Diesel, Kerosene, Naphtha, Cooking Gas-LPG.

 

 

In a government survey for fiscal year 2016-17, it was ranked as the largest profit making PSU in India. The Mission of ONGC is "Dedicated to excellence by leveraging competitive advantages in R&D and technology with involved people".

 

 

ONGC is one of the most valuable public sector enterprises listed on Indian stock exchanges.

 

 

ONGC's wholly-owned subsidiary ONGC Videsh Limited (OVL) is the biggest Indian multinational in the energy space, participating in 36 oil and gas properties in 17 countries.

 

 

It is involved in exploring for and exploiting hydrocarbons in 26 sedimentary basins of India, and owns and operates over 11,000 km of pipelines in the country.

 

 

ONGC is one of the largest E&P company in India with in-house service capabilities in all the activity areas of exploration and production of oil and gas and related oil-field services.

 

 

The state-of-the-art technologies inducted and absorbed over the years such as depth domain processing, stratigraphic inversion, advanced volume based interpretation tools, stochastic lithofacies modeling using neural network, spectral decomposition, geo-statistical modeling, etc.

 

 

ONGC has a unique distinction of being a company with in-house service capabilities in all areas of Exploration and Production of oil & gas and related oil-field services. It is a global energy holding company, engaged in the oil exploration, development, and production of crude oil and natural gas. Its segments include Exploration & Production (E&P), and Refining.

 

 

ONGC's wholly owned subsidiary and overseas arm ONGC Videsh is India's largest international oil and gas E&P company with 39 projects in 18 countries including Azerbaijan, Bangladesh, Brazil, Colombia, Kazakhstan, Mozambique, Myanmar, Russia, South Sudan, Sudan, Venezuela, Vietnam, New Zealand and Nambia. a ONGC emerged as the 2nd most profitable PSU in the Public Enterprises Survey 2017-18 contributing 12.49 % to the total profit earned by CPSEs.

 

More Stories on ONGC
Petronet is 50 per cent owned by state-owned refiners Indian Oil Corp (IOC) and Bharat Petroleum Corp Ltd (BPCL), gas utility GAIL (India) Ltd and oil and gas producer ONGC

Petronet looks to make foray into petchem business; mulls LNG import facility on east coast

Sep 12, 2021

Oil Secretary Tarun Kapoor, who is also the Chairman of Petronet, in the firm's latest annual report said the company is looking at setting up a floating terminal at Gopalpur port in Odisha

The rise in gas price would help boost margins of ONGC and Oil India Ltd as well as private companies such as Reliance Industries Ltd (RIL)

CNG, piped cooking gas prices may jump 10-11% in Oct: ICICI Securities

Sep 11, 2021

The government fixes the price of natural gas produced by firms such as state-owned Oil and Natural Gas Corp (ONGC) from fields given to them on nomination basis, every six months

OVL alongside Petronet LNG Ltd is negotiating to buy a 9.9 per cent stake from Novatek

ONGC's overseas arm in talks to buy stake in Russia's Vostok, Arctic LNG-2 project

Sep 06, 2021

OVL is evaluating buying a minority stake in the Vostok Oil project, which contains combined estimated resources of over 6 billion tonnes or around 44 billion barrels, of premium crude

The bids are to be submitted through ONGC's e-bidding portal by December 3

ONGC invites bids from private players to boost production across 43 oil, gas fields

Aug 19, 2021

The state-run explorer has clustered the fields, with total in-place reserves of 160 million metric tonnes of oil equivalent (mmtoe), into 11 contract areas for which it has issued a notice inviting offer (NIO), ONGC said in a statement

Stocks in news: Devyani International, Vodafone Idea, ONGC, Glenmark Pharma and more

Stocks in news: Devyani International, Vodafone Idea, ONGC, Glenmark Pharma and more

Aug 16, 2021

On August 13, the equity benchmark Sensex rallied 593 points to end above the 55,000-mark for the first time and Nifty advanced 164 points or 1.01 per cent to its fresh closing peak of 16,529.

ONGC has signed a memorandum of understanding with the country's top utility NTPC Ltd to study the setting up of offshore wind and other renewable energy projects in India and overseas

ONGC looks at acquisitions for 10GW renewable aim

Aug 14, 2021

ONGC has signed a memorandum of understanding with the country's top utility NTPC Ltd to study the setting up of offshore wind and other renewable energy projects in India and overseas

The company produced nearly 5 % less crude oil at 5.4 million tonnes in the quarter while natural gas output was 4.3 % lower at 5.3 billion cubic metres

ONGC Q1 results: Net profit surges 800% to Rs 4,335 cr

Aug 14, 2021

Net profit in April-June at Rs 4,335 crore was 772.2% higher than Rs 497 crore in Q1 of previous fiscal when demand, as well as price, had plummeted due to coronavirus-related lockdown, the company said in a statement

Currently, BPCL has more than 8.4 crore domestic LPG customers, including 2.1 crore Ujjwala customers

Centre seeks legal view to allow BPCL sell subsidised LPG post stake sale

Jul 11, 2021

A legal opinion has been sought by the Centre to ascertain if privatised BPCL will be eligible to receive liquefied petroleum gas (LPG) produced by companies such as ONGC and GAIL

Stock Market Updates

Stock Market Updates: Sensex opens flat, Nifty holds 15,800; ONGC, HDFC Bank top gainers

Jul 06, 2021

At 09:18 hours, the 30-share BSE index was trading 25 points or 0.05 per cent higher at 52,905.10, and the broader NSE Nifty 50 index was up 0.30 points at 15,834.65.

Offshore wind turbines are much larger in size (in range of 5 to 10 MW per turbine) as against 2-3 MW of an onshore wind turbine

NTPC, ONGC plans to boost development of offshore wind energy in India

Jul 04, 2021

Earlier in May last year, NTPC and ONGC had signed a memorandum of understanding (MoU) to accelerate their footprint in the renewable energy space

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ONGC share rises 2% on strong Q4 earnings

Jun 25, 2021

For FY21, the profit declined 16.5 percent to Rs 11,246 crore and gross revenue fell 29.2 per cent to Rs 68,141 crore, compared to the previous year