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Oil and Natural Gas Corporation (ONGC)

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Oil and Natural Gas Corporation (ONGC)

  • Largest crude oil and natural gas company in India
  • ONGC Videsh, its subsidiary, is the India’s largest international oil and gas company
  • Standalone total income of Rs. 1,02,318.64 crore (US$ 14.52 billion) in FY20

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 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

 

Oil And Gas
The Oil and Gas industry is expected to attract US$ 25 billion investment in exploration and production by 2022.