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Vision - : 1. What The Company Does?

ONGC is India's largest crude oil and natural gas company, contributing 75% of domestic production. It aims to be a global leader in integrated energy. Over the past 60+ years, ONGC has discovered major oil and gas fields in India and expanded operations overseas through ONGC Videsh. Recent challenges have included timely project completion, attrition of senior staff, and low gas prices. ONGC's new chairman aims to increase oil production by 25% and double gas output through $12.3 billion worth of projects currently underway.

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97 views

Vision - : 1. What The Company Does?

ONGC is India's largest crude oil and natural gas company, contributing 75% of domestic production. It aims to be a global leader in integrated energy. Over the past 60+ years, ONGC has discovered major oil and gas fields in India and expanded operations overseas through ONGC Videsh. Recent challenges have included timely project completion, attrition of senior staff, and low gas prices. ONGC's new chairman aims to increase oil production by 25% and double gas output through $12.3 billion worth of projects currently underway.

Uploaded by

Saurabh saxena
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
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ONGC

Vision - To be global leader in integrated energy business through sustainable growth, knowledge
excellence and exemplary governance practices.

1. What the company does?


Maharatna ONGC is the largest crude oil and natural gas Company in India, contributing around 75 per
cent to Indian domestic production. Crude oil is the raw material used by downstream companies like
IOC, BPCL, and HPCL (subsidiary of ONGC) to produce petroleum products like Petrol, Diesel,
Kerosene, Naphtha, and Cooking Gas-LPG.This largest natural gas company ranks 11 th among global
energy majors (Platts). It is the only public sector Indian company to feature in Fortune’s ‘Most Admired
Energy Companies’ list. ONGC ranks 18th in ‘Oil and Gas operations’ and 220 overall in Forbes Global
2000. Acclaimed for its Corporate Governance practices, Transparency International has ranked ONGC
26th among the biggest publicly traded global giants. It is most valued and largest E&P Company in the
world, and one of the highest profit-making and dividend-paying enterprise.ONGC has a unique
distinction of being a company with in-house service capabilities in all areas of Exploration and Production
of oil & gas and related oil-field services. Winner of the Best Employer award, this public sector enterprise
has a dedicated team of over 30,000 professionals who toil round the clock in challenging
locations.ONGC Videsh is a wholly owned subsidiary of Oil and Natural Gas Corporation Limited
(ONGC), the National Oil Company of India, and is India’s largest international oil and gas Company.
ONGC Videsh has participation in 39 projects in 19 countries namely Azerbaijan, Bangladesh, Brazil,
Colombia, Iraq, Israel, Iran, Kazakhstan, Libya, Mozambique, Myanmar, Namibia, Russia, South Sudan,
Syria, United Arab Emirates, Venezuela, Vietnam and New Zealand. ONGC Videsh maintains a balanced
portfolio of 15 producing, 4 discovered/under development, 18 exploratory and 4 pipeline projects. The
Company currently operates/ jointly operates 21 projects. ONGC Videsh has 2P reserves of 675.721
MMTOE as on 01 April 2019. 

2. How company has performed?

The Company’s Evolution can be summarized as under:

 1955 – Inception
 1958 – First Oil in Cambay
 1960 – Oil  gas discovery in Gujarat
 1963 – Oil in Assam
 1965 – Concept of ONGC Videsh Operations
 1970 – first Offshore well
 1974 – Mumbai High discovered
 1976 – Bassein Gas field of Mumbai High
 1984 – GAIL formed out of ONGC
 1993 – ONGC a limited company
 1993 – Govt of India divest 2% share
 1994 – 2% share to employees
 1999 – Equity swap ONGC, IOC, GAIL
 2003 – Acquired Mangalore Refineries Petrochemicals Ltd from Birla Group
 2003 – Ist equity Oil & gas from Sudan / Vietnam
 2004 – Govt of India divests 10%
 2006 – Diversification – ONGC Petro additives Ltd and ONGC Mangalore Petro Ltd
 2007 – ONGC Energy Centre formed
 2010 – Coal Bed Methane Production
 2013 – Oil at Kazakhstan/Mozambique
3. What challenges or successes the company has had over the past 3–5 years?

Timely project completion, attrition at senior level and low gas prices will be the key challenges
for ONGC, which is seeking to raise its oil production by a quarter and double gas output in five
years with Rs 92,000 crore worth of projects underway, the state-run oil and gas company’s
newly-appointed chairman has said.

“We will have to find out all ways to increase our domestic production,” said Shashi Shanker,
who took over as the chairman last month after serving ONGC as its director (technical and field
services) for nearly five years.

https://www.ongcindia.com/wps/wcm/connect/en/about-ongc/vision-and-mission/

https://www.ongcindia.com/wps/wcm/connect/en/about-ongc/Our-Growth-Story/

https://www.netcials.com/stock-5-years-nse/ONGC-Oil-&-Natural-Gas-Corporation-Limited/

https://economictimes.indiatimes.com/industry/energy/oil-gas/have-to-find-out-all-ways-to-increase-
output-ongc-chief/articleshow/61459610.cms?from=mdr

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