 | |
| Company type | Public |
|---|---|
| |
| ISIN | INE213A01029 |
| Industry | Energy: Oil and gas |
| Founded | 14 August 1956 |
| Headquarters | Deendayal Urja Bhawan, 5A-5B Nelson Mandela Road, Vasant Kunj, Delhi, India |
Area served | Worldwide |
Key people | Arun Kumar Singh (Chairman & CEO)[1] |
| Products | |
| Revenue |  ₹655,259 crore (US$79 billion) (2024)[2] |
 ₹76,860 crore (US$9.2 billion) (2024)[2] | |
| ₹57,101 crore (US$6.8 billion) (2024)[2] | |
| Total assets | ₹710,193 crore (US$85 billion) (2024)[2] |
| Total equity | ₹365,090 crore (US$44 billion) (2024)[2] |
| Owner | Government of India[3] |
Number of employees | 25,847 (including 10,094 workers) (March 2024)[4] |
| Divisions | |
| Subsidiaries | |
| Website | www |
The Oil and Natural Gas Corporation Limited (ONGC) is an Indian central public sector undertaking which is the largest government-owned oil and gas explorer and producer in the country. It accounts for around 70 percent of India's domestic production of crude oil and around 84 percent of natural gas. Headquartered in Delhi, ONGC is under the ownership of the Government of India and administration of Ministry of Petroleum and Natural Gas. It was founded on 14 August 1956 by the Government of India. In November 2010, the Government of India conferred the Maharatna status to ONGC.
In a survey by the Government of India for fiscal year 2019–20, it was ranked as the largest profit making Central Public Sector Undertaking (PSU) in India. It is ranked 5th among the Top 250 Global Energy Companies by Platts.
ONGC is vertically integrated across the entire oil and gas industry. It is involved in exploring for and exploiting hydrocarbons in 26 sedimentary basins of India, owns and operates over 11,000 kilometers of pipelines in the country and operates a total of 210 drilling and workover rigs. Its international subsidiary ONGC Videsh currently has projects in 15 countries. ONGC has discovered 7 out of the 8 producing Indian Basins, adding over 7.15 billion tonnes of In-place Oil & Gas volume of hydrocarbons in Indian basins. Against a global decline of production from matured fields, ONGC has maintained production from its brownfields like Mumbai High, with the help of aggressive investments in various IOR (Improved Oil Recovery) and EOR (Enhanced Oil Recovery) schemes. ONGC has many matured fields with a current recovery factor of 25–33%.[5] Its Reserve Replacement Ratio for between 2005 and 2013, has been more than one.[5]
During FY 2012–13, ONGC had to share the highest ever under-recovery of ₹ 89765.78 billion (an increase of ₹ 17889.89 million over the previous financial year) towards the under-recoveries of Oil Marketing Companies (IOC, BPCL and HPCL).[5]
On 1 November 2017, the Union Cabinet approved ONGC for acquiring a majority 51.11% stake in Hindustan Petroleum Corporation Limited (HPCL).[6] On 30 January 2018, ONGC completed the acquisition of 51.11% stake in HPCL.[7]
- ^ "Oil Ministry mulls proposal for new ONGC chairman, may extend higher age limit". mint. 19 June 2022. Archived from the original on 5 July 2022. Retrieved 5 July 2022.
- ^ a b c d e "ONGC Financial statements". moneycontrol.com. Archived from the original on 15 April 2023. Retrieved 31 May 2022.
- ^ Limited, Oil and Natural Gas. "Shareholding pattern" (PDF). Archived (PDF) from the original on 21 September 2021. Retrieved 29 July 2020.
{{cite web}}:|last=has generic name (help) - ^ "ONGC Eng AR 2023-24" (PDF). Retrieved 14 August 2024.
- ^ a b c "Annual Report 2012-13" (PDF). ONGC. 29 May 2013. Archived (PDF) from the original on 9 November 2013. Retrieved 9 November 2013.
- ^ "ONGC buys government's 51.11% stake in HPCL for Rs 36,915 crore". The Times of India. 20 January 2018. ISSN 0971-8257. Archived from the original on 25 April 2023. Retrieved 15 April 2023.
- ^ "ONGC: An acquisition thrust by govt way too costly". Deccan Herald. 8 January 2020. Archived from the original on 15 April 2023. Retrieved 15 April 2023.