Oil and Natural Gas Corporation (ONGC)
India's oil demand is expected to increase 50% by 2030 compared to 7% growth for global demand.
ONGC, a Maharatna company, is the biggest crude oil and natural gas name in India, contributing around 75% to Indian domestic production. The company ranks 11th among global energy majors (Platts). It is the only public sector Indian company to feature in Fortune’s ‘Most Admired Energy Companies’ list. The company also ranks 18th in ‘Oil and Gas operations’ and 220 overall in Forbes Global 2000. Acclaimed for its Corporate Governance practices, Transparency International has ranked ONGC 26th among the biggest publicly traded global giants. It is the most valued and largest exploration and production (E&P) Company in the world and one of the highest profit-making and dividend-paying enterprise. ONGC has a unique distinction of being a company with in-house service capabilities in all areas of E&P of oil & gas and related oil-field services. Winner of the Best Employer award, this public sector enterprise has a dedicated team of over 33,500 professionals who toil round the clock in challenging locations.
Company Website: www.ongcindia.com
Oil and Natural Gas Corporation (ONGC) – Making Tomorrow Brighter
| 2021 | In August 2021, the government introduced ‘Ujjwal Abahan’, a ONGC-supported Assam handloom project, to support and train artisans of hathkharga handicraft. In July 2021, ONGC committed procurement of >Rs. 30,000 crore (US$ 4.04 billion) to ease business procedures to encourage local ventures and contribute to the ‘Aatmanirbhar Bharat’ initiative. In March 2021, Oil and Natural Gas Corporation Limited (ONGC) signed a Share Purchase and Shareholders Agreement (SPSHA) with the Indian Gas Exchange (IGX) and the Indian Energy Exchange (IEX) to acquire 5% equity in IGX. In February 2021, the ONGC approved formation of a new wholly owned subsidiary company for gas and liquefied natural gas business value chain. The ONGC may use the new subsidiary to purchase new gas produced from fields such as KG-D5 in the Krishna Godavari basin. |
| 2020 | ONGC won the ‘Golden Peacock Environment Management Award’ for the second consecutive year ONGC and NTPC signed MoU (memorandum of understanding) to set up JV for renewable energy business |
| 2019 | ONGC Videsh made two new oil discoveries in Colombia and Brazil ONGC adopted Energy Strategy 2040 |
| 2018 | Completed acquisition of 51.11% stake in Hindustan Petroleum Corporation Limited (HPCL) |
| 2014 | Completed acquisition of Videocon Group's 10% stake in Rovuma Area I Block in Mozambique offshore |
| 2010 | Initiated Coal Bed Methane production |
| 2004 | Government of India divests 10 per cent stake |
| 2003 | Acquisition of Mangalore Refineries Petrochemicals Ltd from Birla Group |
| 1993 | Government of India divests 2 per cent stake |
| 1984 | GAIL formed out of ONGC |
| 1974 | Discovered Mumbai High |
| 1970 | Dug its first offshore well |
| 1965 | Creation of ONGC Videsh |
| 1963 | Oil discovery in Assam |
| 1960 | Oil discovery in Gujarat |
| 1958 | First oil discovery in Cambay |
| 1955 | Inception of ONGC |
- Largest crude oil and natural gas company in India
- ONGC Videsh, its subsidiary, is the India’s largest international oil and gas company
- Total income stood at Rs. 23,555.31 crore (US$ 3.17 billion) in the first quarter of FY22
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