ONGC Share Price

The Oil and Natural Gas Corporation Limited (also known as ONGC) was established on 14 August 1956. The corporation was later corporatised on 23 June 1993. ONGC is a Maharatna public sector enterprise, administered by the Ministry of Petroleum and Natural Gas under the Government of India. It is headquartered in New Delhi, India. It is listed on both the Bombay Stock Exchange (BOM: 500312) and the National Stock Exchange (NSE: ONGC)

ONGC accounts for approximately 70% of India's domestic crude oil production, making it the largest crude oil and natural gas producing company. The corporation is involved in the exploration, development, and production of crude oil, natural gas and value-added petroleum products. It operates both onshore and offshore in India.

ONGC Business Segments and Revenue Model

ONGC is involved in the exploration, development, and production of crude oil and natural gas. It also conducts international oil and gas exploration through its subsidiary, ONGC Videsh Limited, which operates in multiple countries. This subsidiary operates across various countries. ONGC also participates in refining and petrochemical operations. This includes Mangalore Refinery and Petrochemical Limited (MRPL) and the Hindustan Petroleum Corporation Limited (HPCL). The corporation earns revenue from the sale of crude oil and natural gas to marketing companies and domestic refining. It also earns through international exploration projects and downstream subsidiaries.

ONGC Key Milestones

• 1956: The government of India established the Oil and Natural Gas Commission.
• 1974: The Mumbai High offshore oil field was discovered. This went on to become India’s largest oil discovery.
• 1993: Corporatisation of the oil and natural gas commission in the Oil and Natural Gas Corporation.
• 1997: The government of India granted ONGC the ‘Navratna’ status.
• 2003: Majority stake acquired by ONGC in Mangalore Refinery and Petrochemical Limited.
• 2010: ONGC was granted the ‘Maharatna’ status, which led to a greater financial and operational autonomy.
• 2018: 51.11% stake was acquired by ONGC from the government of India in Hindustan Petroleum Corporation Limited.

ONGC ESG and Sustainability

• ONGC is committed to developing energy responsibly, and this commitment is reflected in its efforts to lessen its environmental impact.
• The company is working diligently to boost efficiency, curb emissions, and encourage the use of cleaner energy alternatives.
• The decarbonisation plan is now operational, aiming for net-zero operational emissions by 2038.
• ONGC is also investing in renewable energy, exploring solar and wind power, as well as energy storage solutions.

ONGC Awards and Recognitions

• ONGC has ranked among the top global companies in the Platts Top 250 Global Energy Company Rankings.
• It was featured in the Forbes Global 2000 list of the world’s largest public companies.
• The government conferred the “Maharatna” status to ONGC for its scale and operational performance.
• ONGC received the Golden Peacock Award for Corporate Social Responsibility and Occupational Health and Safety.