Oil and Natural Gas Corporation

Oil and Natural Gas Corporation Limited
Company type	Central Public Sector Undertaking
Traded as	NSE: ONGC; BSE: 500312; BSE SENSEX Constituent; NSE NIFTY 50 Constituent;
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)
Products	Petroleum; Natural gas; LNG; Lubricants; Petrochemicals; Electricity;
Revenue	₹692,903 crore (US$87 billion) (2023)
Operating income	₹51,156 crore (US$6.4 billion) (2023)
Net income	₹32,778 crore (US$4.1 billion) (2023)
Total assets	₹614,529 crore (US$77 billion) (2023)
Total equity	₹301,255 crore (US$38 billion) (2023)
Owner	Ministry of Petroleum and Natural Gas, Government of India
Number of employees	25,993 (as of March 2023)
Divisions	Mangalore Refinery and Petrochemicals Limited; ONGC Videsh; ONGC Petro-Additions Limited; ONGC Tripura Power Company;
Subsidiaries	Hindustan Petroleum; Imperial Energy Corporation; Petronet LNG;
Website	www.ongcindia.com

The Oil and Natural Gas Corporation Limited (ONGC) is an Indian central public sector undertaking under the ownership of Ministry of Petroleum and Natural Gas, Government of India. The company is headquartered in Delhi. ONGC was founded on 14 August 1956 by the Government of India. It is the largest government-owned-oil and gas explorer and producer in the country and produces around 70 percent of India's domestic production of crude oil and around 84 percent of natural gas. ONGC is vertically integrated across the entire oil and gas industry. 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 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 majority 51.11% stake in Hindustan Petroleum Corporation Limited (HPCL).^[6] On 30 January 2018, Oil & Natural Gas Corporation acquired the entire 51.11% stake of 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.
^ "ONGC Eng AR 2022–23". Archived from the original on 16 August 2023. Retrieved 16 August 2023.
^ ^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.

[1] "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.

[6-K-2] "ONGC Financial statements". moneycontrol.com. Archived from the original on 15 April 2023. Retrieved 31 May 2022.

[3] Limited, Oil and Natural Gas. "Shareholding pattern" (PDF). Archived (PDF) from the original on 21 September 2021. Retrieved 29 July 2020.

[4] "ONGC Eng AR 2022–23". Archived from the original on 16 August 2023. Retrieved 16 August 2023.

[AR201213-5] "Annual Report 2012-13" (PDF). ONGC. 29 May 2013. Archived (PDF) from the original on 9 November 2013. Retrieved 9 November 2013.

[6] "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.

[7] "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.

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