Oil and Natural Gas Corporation Ltd (ONGC)

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Oil and Natural Gas Corporation Ltd (ONGC)

  • ONGC is the largest upstream oil company
  • ONGC accounts for 62 per cent of India’s total crude oil output and 49 per cent of total gas production
  • Revenue stood at US$ 15.2 billion during FY12
  • ONGC registered highest ever oil production
  • Highest ever dividend payout of US$ 1.6 billion

Oil and Natural Gas Corporation Limited (ONGC) is an Indian multinational oil and gas company headquartered in Dehradun, India. It is a public sector undertaking (PSU) of the Government of India, under the administrative control of the Ministry of Petroleum and Natural Gas. It is India's largest oil and gas exploration and production company. It produces around 69 per cent of India's crude oil (equivalent to around 30 per cent of the country's total demand) and around 62 per cent of its natural gas.

ONGC was founded on August 14, 1956 by Government of India, which currently holds a 69.23 per cent equity stake. It is involved in exploring for and exploiting hydrocarbons in 26 sedimentary basins of India, and owns and operates over 11,000 kilometers of pipelines in the country. Its international subsidiary ONGC Videsh Ltd (OVL) currently has projects in 15 countries. ONGC has discovered 6 of the 7 commercially-producing Indian Basins, in the last 50 years, adding over 7.1 billion tonnes (BT) of in-place oil and gas volume of hydrocarbons in Indian basins.

Source: http://www.ongcindia.com

ONGC: Continuing on its strong growth path

2003 ONGC Videsh acquired Talisman Energy's 25 per cent stake in the Greater Nile Oil project
2006 A commemorative coin set was issued to mark the 50th anniversary of the founding of ONGC
2010 ONGC was conferred with 'Maharatna' status by the Government of India
2012 ONGC comes out on top in the Oil Industry Safety Awards
2013 ONGC Group secures PSU Champions awards

Updated: August, 2013

Oil And Gas
India will overtake Japan to become the world’s third largest oil consumer behind the US and China by 2025.
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