Oil & Natural Gas Corporation Ltd.
Oil & Natural Gas Corporation[ONGCs] was set up in 1956 with significant contribution in industrial & economic growth of country. ONGC functions as the primary arm of Government as regards exploration for & exploitation of India petroleum resources. The Company revenues are derived primarily from the sale of its production of crude oil, natural gas, liquefied petroleum gas [LPGs],C2-C3 [ethane-propanes] & natural gasoline [NGLs].
ONGC is a schedule ‘A’ Navratna Company under the administrative control of the Ministry of petroleum and Natural Gas with 74.14% shareholding of the Government of India. Since its inception in, Oil and Natural Gas Corporation (ONGC) has been instrumental in transforming the country’s limited upstream sector into a large viable playing field, with its activities spread throughout India and significantly in overseas territories. In the inland areas, ONGC not only found new resources in Assam but also established new oil province in Cambay basin (Gujarat), while adding new petroliferous areas in the Assam–Arakan Fold Belt and East coast basins (both inland and offshore).
A joint venture company, Petronet LNG is in place with ONGC having 12.5% equity interest for import and marketing of LNG in India. Other partners in this venture are IOC, GAIL and BPCL each with 12.5% equity. The remaining 50% equity will be offered to strategic partners, financial institutions and public. The Company is planning to install two LNG terminals (Dahej in Gujarat and Cochin in Kerala) on western coast of India with total capacity of 7.5 MMTPA.
- ONGC is ranked as the Top Energy Company in India,Fifth in Asia and 21st globally as per Platts Top 250 Global Energy Rankings; Maintains place as World’s Third ranked E&P Company in the list.
- Ranked 21st among global Oil and Gas Operations industry in Forbes Global 2000 list of the World’s biggest companies for 2014; Ranked 176 in the overall list – based on Sales (US$ 29.6 billion), Profits (US$ 4.5 billion), Assets (US$ 53.8 billion) and Market Value (US$ 46.4 billion).
- Only Indian energy major inFortune’s Most Admired List 2014 under ‘Mining, Crude Oil Production’ category (No. 7 worldwide – Up 3 places from previous year)
- Ranked 26 in ‘Transparency in Corporate Reporting’ among the world’s 124 largest listed companies published by Transparency International (Up from 39 in 2012)
- Ranked 217 in theNewsweek Green Rankings World’s Greenest Companies 2014 (up from 386 in 2012)
Today, Oil and Natural Gas Corporation Ltd. (ONGC) is, the leader in Exploration & Production (E&P) activities in India having 72% contribution to India’s total production of crude oil and 48% of natural gas. ONGC has established more than 7 Billion Tonnes of in-place hydrocarbon reserves in the country. In fact, six out of seven producing basins in India have been discovered by ONGC. ONGC produces more than 1.27 million Barrels of Oil Equivalent (BOE) per day. It also contributes over three million tonnes per annum of Value-Added-Products including LPG, C2 – C3, Naphtha, MS, HSD, Aviation Fuel, SKO etc.