Tag: ONGC

ONGC expects oil plus gas production of 39 MMTOE this fiscal, 40 MMTOE next year

August 5, 2026 admin

ONGC expects cumulative oil plus gas production to scale 39 MMT in the ongoing fiscal | Photo Credit: Reuters Oil and Natural Gas Corporation (ONGC) expects cumulative oil plus gas production to scale 39 million metric tonnes (MMT) in the ongoing fiscal and 40 MMT in FY 2028, Anupam Agarwal, Director (Finance) at the state-owned…

Business

ONGC’s net profit more than doubles with spike in net crude price realisations

August 4, 2026 admin

Image used for representational purposes. File | Photo Credit: Reuters State-owned explorer Oil and Natural Gas Corporation’s (ONGC) net profit more than doubled in the June-end quarter fuelled by a more-than-half times increase in net crude price realisations. The Delhi-headquartered explorer’s net profit rose more than 112% on a year-over-year basis to ₹17,034 crore. This…

Business

ONGC to reserve half of oil storage facility in Mangaluru towards strategic reserves: MoS Petroleum

August 3, 2026 admin

A view of ONGC’s advanced drilling rig. File | Photo Credit: @lg_ladakh X/ANI State-owned Oil and Natural Gas Corp (ONGC) would reserve half of its 1.75 million metric tonnes (MMT) oil storage facility in Mangaluru as strategic storage, Suresh Gopi, Minister of State in the Union Petroleum Ministry told the Upper House on Monday (August…

Business

ONGC-BP further expand technical services collaboration in Western Offshore

June 25, 2026 admin

Under the latest agreement, the English oil major would be working with ONGC to identify focussed interventions across reservoirs, wells and production facilities. Photo: X/@ONGC_ Further expanding on their previous technical services collaboration for Mumbai High, state-owned Oil and Natural Gas Corporation (ONGC) appointed English oil major BP as their technical services provider (TSP) for…

Business

ONGC approves joint venture with MRPL, OPaL focussed on petrochemicals marketing

April 27, 2026 admin

Image used for representational purposes. File | Photo Credit: Reuters Seeking to strengthen their petrochemical business, state-owned explorer ONGC approved the formation of a joint venture company with subsidiaries Mangalore Refinery Pvt Ltd (MRPL) and ONGC Petro additions Ltd (OPaL), integrating petrochemical marketing division of the companies, it informed bourses on Monday (April 27, 2026)….

Business

ONGC Shares Surge Over 6% In Trade — Here’s Why

January 28, 2026 admin

Shares of Oil and Natural Gas Corporation (ONGC) are in focus after its joint venture with Japan’s Mitsui O.S.K. Lines (MOL) finalized shipbuilding contracts with South Korean major Samsung Heavy Industries. The share price of ONGC has surged over 6%, and is trading at around Rs 262.83 apiece. The announcement was made during India Energy Week 2026…

Business

ONGC announces end of ‘force majeure’ of Mozambique LNG project

November 12, 2025 admin

The overseas arm of the exploration and production company, ONGC Videsh holds 16% interest in the project through its subsidiaries | Photo Credit: Reuters State-owned explorer ONGC Wednesday announced the formal end of the force majeure of the Area 1 LNG project in Mozambique. It informed that the consortium of the 13.12 million metric tonnes…

Business

ONGC eyes 15% cost reduction to address lower oil price regime

October 13, 2025 admin

The company expects scaling up at the base would help augur more than ₹1,000 crore in savings. File. | Photo Credit: Reuters Oil and Natural Gas Company (ONGC) is seeking to reduce 15% costs organisation-wide via varied optimisation measures, Director for Production Pankaj Kumar told reporters in New Delhi. Mr. Kumar enumerated primary areas of focus…

Business

ONGC asked to pay ₹60 lakh as penalties for alleged discrepancy in excise duty payment of Rajahmundry asset

October 7, 2025 admin

According to ONGC, it had already paid ₹42 lakh for the quantity it had produced itself and sought exemption of the approx. ₹18 lakh, for the quantity produced by the contractor, as per relevant provisions back then. File. | Photo Credit: Reuters State-owned explorer Oil and Natural Gas Company (ONGC) informed Tuesday that the Vijayawada…

Business

ONGC to invest ₹8,110 crore to develop 172 onshore wells in Andhra, gets ‘green nod’ from EAC

October 6, 2025 admin

Representational file image. | Photo Credit: Reuters Oil and Natural Gas Corporation Limited (ONGC) is set to invest ₹8,110 crore for onshore development and production of oil and gas from 172 wells in eight PML (petroleum mining lease) blocks in Andhra Pradesh. A committee under the Ministry of Environment, Forest and Climate Change has recommended…

Business