ONGC

Oil and Natural Gas Corporation Limited (ONGC) (incorporated on June 23, 1993) is an Indian public sector petroleum company. It is a Fortune Global 500 company ranked 335th, and contributes 77% of India's crude oil production and 81% of India's natural gas production. It is the highest profit making corporation in India. It was set up as a commission on August 14, 1956. Indian government holds 74.14% equity stake in this company.

ONGC is one of Asia's largest and most active companies involved in exploration and production of oil. It is involved in exploring for and exploiting hydrocarbons in 26 sedimentary basins of India. It produces about 30% of India's crude oil requirement. It owns and operates more than 11,000 kilometers of pipelines in India.
 
Global Rankings

  • ONGC ranks as the Numero Uno Oil & Gas Exploration & Production (E&P) Company in the world, as per Platts 250 Global Energy Companies List for the year 2008 based on assets, revenues, profits and return on invested capital (ROIC).
  • ONGC ranks 20th among the Global publicly-listed Energy companies as per ‘PFC Energy 50” (Jan 2008)
  • ONGC is the only Company from India in the Fortune Magazine’s list of the World’s Most Admired Companies 2007.
  • Occupies 152nd rank in “Forbes Global 2000” 2009 list (up 46 notches than last year) of the elite companies across the world; based on sales, profits, assets and market valuation during the last fiscal. In terms of profits, ONGC maintains its top rank from India.
  • ONGC ranked 335th position as per Fortune Global 500 - 2008 list; up from 369th rank last year, based on revenues, profits, assets and shareholder’s equity. ONGC maintains top rank in terms of profits among seven companies from India in the list.

 
Represents India’s Energy Security
ONGC has single-handedly scripted India’s hydrocarbon saga by:

  • Establishing 6.61 billion tonnes of In-place hydrocarbon reserves with more than 300 discoveries of oil and gas; in fact, 6 out of the 7 producing basins have been discovered by ONGC: out of these In-place hydrocarbons in domestic acreages, Ultimate Reserves are 2.36 Billion Metric tonnes (BMT) of Oil Plus Oil Equivalent Gas (O+OEG).
  • Cumulatively producing 788.273 Million Metric Tonnes (MMT) of crude and 463 Billion Cubic Meters (BCM) of Natural Gas, from 111 fields.
  • ONGC has bagged 85 of the 162 Blocks (more than 50%) awarded in the 6 rounds of bidding, under the New Exploration Licensing Policy (NELP) of the Indian Government.
  • ONGC’s wholly-owned subsidiary ONGC Videsh Ltd. (OVL) is the biggest Indian multinational, with 44 Oil & Gas projects (7 of them producing) in 18 countries, i.e. Vietnam, Sudan, Russia, Iraq, Iran, Myanmar, Libya, Cuba, Colombia, Nigeria, Nigeria Sao Tome JDZ, Egypt, Brazil, Congo, Turkmenistan, Syria, Venezuela and United Kingdom. OVL has a committed overseas investment of over 5 billion US dollars.

 
India’s Most Valuable Public Sector Enterprise

  • Ranked as the most respected Public Enterprise in India in 2007 “Business World Survey, with 19th position in the league of the most-respected Indian Corporate(s).
  • Rated ‘Excellent’ in MOU Performance Rating for 2006-07 by the Department of Public Enterprises, Ministry of Heavy Industries in Public Enterprises, GOI.
  • Oil Industry Safety Directorate (OISD) has selected Ahmedabad Asset and MRPL for the year 2006-07 (as number one in Group-4 category (Oil & Gas Assets) and Second in Group-1 Refinery category respectively).
  • Topped the visibility metrics in Indian Oil and Gas Sector and the only PSU in the top 10 list of Indian Corporate newsmakers.
  • ”Golden Peacock Global Award 2007 for Excellence in Corporate Governance 2007”, for the 3rd consecutive time, conferred by World Council for Corporate Governance.
  • Bagged the coveted winner’s trophy of the maiden “Earth Care Award for excellence in climate change mitigation and adoption” under the category of GHG mitigation in the small/medium and large enterprises.
  • Conferred with “Infraline Energy Excellence Award” for its services to the Nation in Oil & Gas Exploration and Production category.
  • Bestowed with “Amity Award for Excellence” in Cost Management.