The corporation's net worth of ₹107.77 billion was the largest of any Indian company. ONGC subsidiary Mangalore Refinery and Petrochemicals Limited (MRPL) is a schedule ‘A’ Miniratna, Central Public Sector Enterprise (CPSE) under the Ministry of Petroleum & Natural Gas. It was rechristened on 15 June 1989. The company teamed up with fellow Tulsa-based energy firm SemGas LP to help build the Wyckoff Gas Storage facility (5.1 billion cu. The company has been making all efforts to arrest the decline in the production from its matured fields through various measures like Improved Oil Recovery (IOR) and Enhanced Oil Recovery (EOR) methods and other production enhancement methods. HPCL has the second largest share of product pipelines in India with a pipeline network of more than 3370 kms for transportation of petroleum products and a vast marketing network consisting of 14 Zonal offices in major cities and 133 Regional Offices facilitated by a Supply & Distribution infrastructure comprising Terminals, Pipeline networks, Aviation Service Stations, LPG Bottling Plants, Inland Relay Depots & Retail Outlets, Lube and LPG Distributorships. Its football team, ONGC F.C., once played in Indian I-League. ONGC Tripura Power Company Ltd (OTPC) is a joint venture which was formed in September 2008 between ONGC, Infrastructure Leasing and Financial Services Limited and the Government of Tripura. The major part of Indian sedimentary basins was deemed to be unfit for the development of oil and gas resources. 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. [10], Since its inception, 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. ONGC Videsh has stake in 37 oil and gas projects in 17 Countries, viz. MRPL has a design capacity to process 15 million metric tons per annum and has 2 Hydrocrackers producing Premium Diesel (High Cetane). Oil India produced 2.67 BCM and other private operators 4.67 BCM. But, fossil fuels are still expected, as per most industry and independent estimates, to be relied upon significantly for catering to a majority of the planet’s energy needs.13. 5,050 crore in Tripura for drilling of wells and creation of surface facilities to produce 5.1 million standard cubic feet per day gas from the state's fields. ONGC Videsh Limited (OVL), a wholly owned subsidiary of Oil and Natural Gas Corporation Ltd (ONGC), has announced that it has made a significant strike of oil in its onshore CPO-5 … Lower gas prices also contributed to lower topline and bottom line.”, ONGC signs contract for 7 oil and gas blocks.15. ONGC (Oil and Natural Gas Corporation) is a producer of crude oil and natural gas. Over 480,000 individual shareholders hold approx. Hindustan Petroleum Corporation Limited (HPCL) (BSE: 500104, NSE: HINDPETRO) is an Indian state-owned oil and natural gas company with its headquarters at Mumbai, Maharashtra. On Jan 30th 2018, Oil & Natural Gas Corporation acquired the entire 51.11% stake of Hindustan Petroleum Corporation. These players include Vishesh Bhriguvanshi, Amritpal Singh, Yadwinder Singh, and others. Consistent excellent performance has been made possible by highly motivated workforce of over 9,500 employees working all over India at its various refining and marketing locations.5. The department was constituted with a nucleus of geoscientists from the Geological Survey of India. At 100% operational load, the complex shall produce 914 KTPA Para-xylene and 283 KTPA Benzene. It also has 2 CCRs producing Unleaded Petrol of High Octane. The primary business of ONGC Videsh is to prospect for oil and gas acreages outside India, i… ONGC subsidiary HPCL is a Maharatna CPSE. Oil and gas production profile from domestic as well as overseas assets during last five years are as given below: Revenue from operations stood at Rs 962,136 Million against Rs 1,096,546 Million (restated) in FY’19. ONGC, India's biggest oil and gas producer, in 2018 completed the acquisition of HPCL for Rs 36,915 crore. Exxon Mobil Corporation, doing business as ExxonMobil, is an American multinational oil and gas corporation headquartered in Irving, Texas.It is the largest direct descendant of John D. Rockefeller's Standard Oil, and was formed on November 30, 1999 by the merger of Exxon (formerly the Standard Oil Company of New Jersey) and Mobil (formerly the Standard Oil Company of New York). This was the very first investment by the Indian public sector in foreign countries and oil from Rostum and Raksh was brought to Cochin where it was refined in a refinery built with technical assistance from Phillips. The company’s share in In-place volume of accretion in the Joint Venture (JV) fields in India, where it is not the operator, have been estimated to the extent of 7.14 MMT O+OEG (3P) and 1.59 MMT O+OEG in EUR (3P). Global oil demand was already on a downward trend, even before COVID-19. [10], In April 1956, the Government of India adopted the Industrial Policy Resolution, which placed Mineral Oil Industry among the schedule 'A' industries, the future development of which was to be the sole and exclusive responsibility of the state. ONGC Mangalore Petrochemicals Limited (OMPL), a green field petrochemicals project, is promoted by Oil and Natural Gas Corporation Ltd (ONGC) – India's Most Valuable Public Sector Enterprise and Mangalore Refinery and Petrochemicals Limited (MRPL) a subsidiary of ONGC. "UPSTREAM INDIA Fifty Golden Years of ONGC" by ONGC group publications year 2006 is official narrative of the history of ONGC. [44], Indian multinational crude oil and gas company, Information updated as of January, 2020 by Department of Public Enterprises •, List of corporations by market capitalization, Indian Institute of Technology (Indian School of Mines), Dhanbad, Rajiv Gandhi Institute of Petroleum Technology, University of Petroleum and Energy Studies, Dehradun, "ONGC India: Chairman & Managing Director", "ONGC is No 1 profit-making PSU, BSNL worst performer: Survey", "Platts Top 250 Companies – Oil & Natural Gas Corp Ltd", "ONGC buys govt's entire 51.11% stake in HPCL for Rs 36,915 crore", "ONGC seeks 2K acres govt land at Dahanu", http://www.ogj.com/articles/2012/05/repsol-declares-cuba-deepwater-wildcat-dry.html, "ONGC makes huge oil discovery off West coast", "India's ONGC to pay $5bn for Conoco's Kashagan stake", "Indian OVL to Buy ConocoPhillips's Stake in Kashagan Field", "ONGC board approves Rs. [15] The acquisition is subject to the approval of the governments of Kazakhstan and India and also to other partners in the Caspian Sea field waiving their pre-emption rights. "Business as usual cannot work.". Carbon emissions also declined in step with energy consumption – growing at 0.5 percent, significantly less than the over 2 percent growth in 2018. ONGC’s standalone production was 20.71 MMT vs 21.11 MMT in FY’19. The company adopted Petroleum Resource Management System (PRMS) for estimation of hydrocarbon reserves. ONGC Videsh Limited, a Miniratna Schedule “A” Central Public Sector Enterprise (CPSE) of the Government of India under the administrative control of the Ministry of Petroleum & Natural Gas, is the wholly owned subsidiary and overseas arm of Oil and Natural Gas Corporation Limited (ONGC), the flagship national oil company (NOC) of India. Companies can put in an expression of interest (EoI) for any area throughout the year, but such interests are accumulated thrice in a year. Petroleum product export for FY’20 stood at 65.66 MMT, against 61.09 MMT in FY’19. However, these natural gas reserves were not developed commercially due to low industrial demand in the North-Eastern region.7. Oil demand growth was 0.9 Million BPD (0.9 percent) while Natural gas consumption increased by 78 billion cubic metres (BCM), or 2 percent, much below the exceptional growth seen in 2018 (5.3%). Iran gave ONGC four blocks and Malaviya visited Milan and Bartlseville to request ENI and Phillips Petroleum to join as partners in the Iran venture. [6], In a survey by Government of India for fiscal year 2019–20, it was ranked as the largest profit making PSU in India. PMHBL was incorporated to lay the pipeline as aforesaid which is first of its kind in transporting the petroleum product by underground pipeline in the state of Karnataka. The demand for polymers in India is huge and is expected to further rise with the growth in GDP. Both ONGC and MRPL hold respectively 49% and 51% stake in the company.OMPL is a Subsidiary Company of MRPL and also a PSU behalf of share pattern of OMPL. Invenire Petrodyne Ltd was the only private bidder for one block. Consolidated revenue from operations declined 17.70 per cent YoY to Rs 83,619.16 crore. It is involved in exploring for and exploiting hydrocarbons in 26 sedimentary basins of India, and owns and operates over 11,000 kilometers of pipelines in the country. John Croft, Jr., a former Tenngasco employee (a subsidiary of Tenneco, Inc.), is the President and Chief Executive Officer of SNGC. [16], In January 2014, OVL and Oil India completed the acquisition of Videocon Group's ten percent stake in a Mozambican gas field for a total of $2.47 billion. Although, liquids still offer higher economics and contribute to 50 percent of initially-estimated development value. At the time of the launch of OALP-V, DGH had stated that the round is expected to "generate immediate exploration work commitment of around USD 400-450 million". OPaL is setting up a grass root mega Petrochemical project at Dahej, Gujarat in PCPIR/SEZ. It is most valued and largest E&P Company in the world, and one of the highest profit-making and dividend-paying enterprise. With this approach, as on 01.04.2020, accretion of In-Place Hydrocarbons (3P) from the Company operated fields stood at 98.99 MMTOE due to exploratory efforts, out of which 56 per cent accretion were on account of New Discoveries. HPCL also owns and operates the largest Lube Refinery in the country producing Lube Base Oils of international standards, with a capacity of 428 TMT. The Government is also bullish on long-term prospects of gas and has set a clear mandate of achieving a 15 percent share for gas in energy mix by 2030. Mangalore has been ranked 13th best business destination in India based on a study by Global Initiative for Restructuring Environment and Management (GIREM). In order to optimally utilize the gas available in Tripura and to supply power to the deficit areas of North Eastern States of India, ONGC along with Infrastructure Leasing and Financial Services Limited (IL&FS) and Government of Tripura (GoT) formed a Special Purpose Vehicle ONGC Tripura Power Company (OTPC) by entering into a Shareholders’ Agreement (SHA) on September 18, 2008 to implement a 726.6 MW Combined Cycle Gas Turbine (CCGT) thermal power plant at Palatana, Tripura. The pages created by the user or by XWiki extensions on behalf of the user. Mangalore Refinery and Petrochemicals Ltd (MRPL), Hindustan Petroleum Corporation Limited (HPCL), ONGC Tripura Power Company Limited (OTPC), Mangalore Special Economic Zone Limited (MSEZ), ONGC Mangalore Petrochemicals Limited (OMPL), https://www.ongcindia.com/wps/wcm/connect/en/about-ongc, https://www.ongcindia.com/wps/wcm/connect/en/about-ongc/Our-Growth-Story/, https://www.ongcindia.com/wps/wcm/connect/en/about-ongc/subsidiaries/ongc-videsh-limited, https://www.ongcindia.com/wps/wcm/connect/en/about-ongc/subsidiaries/mrpl, https://www.ongcindia.com/wps/wcm/connect/en/about-ongc/subsidiaries/hpcl, https://www.ongcindia.com/wps/wcm/connect/en/about-ongc/subsidiaries/pmhbl, https://www.ongcindia.com/wps/wcm/connect/en/about-ongc/jvs/otpc/, https://www.ongcindia.com/wps/wcm/connect/en/about-ongc/jvs/opal, https://www.ongcindia.com/wps/wcm/connect/en/about-ongc/jvs/msez, https://www.ongcindia.com/wps/wcm/connect/en/about-ongc/jvs/ompl, https://www.ongcindia.com/wps/wcm/connect/en/about-ongc/jvs/dsl, https://www.ongcindia.com/wps/wcm/connect/en/about-ongc/jvs/otbl, https://www.ongcindia.com/wps/wcm/connect/31cce834-fb8f-49c1-a2c4-38df2f712f7c/ONGC_AR_2019-20.pdf, https://economictimes.indiatimes.com/markets/stocks/earnings/ongc-q2-results-net-profit-falls-19-yoy-to-rs-4335-crore-revenue-declines-18/articleshow/79213230.cms, https://www.moneycontrol.com/news/business/ongc-signs-contract-for-7-blocks-oil-4-blocks-6127421.html, Acquired Mangalore Refineries Petrochemicals Ltd from Birla Group, Ist equity Oil & gas from Sudan / Vietnam, Diversification – ONGC Petro additives Ltd and ONGC Mangalore Petro Ltd, Top Energy Company of India; 5th in Asia, 21st globally: Platts, 51.11% stake in Hindustan Petroleum Corporation Limited, Invests Rs 83,000 crore in 25 projects; oil & gas gain over 180 MT, ONGC bags 7 Blocks in Bid Round IV of OALP, Note: # as per PRMS adopted w.e.f. Oil and Natural Gas Corporation General Information Description. In FY’20, import dependency touched 85 percent, based on domestic consumption of petroleum products. Natural Gas output in FY’20 was 31.80 Billion Cubic Metres (BCM), versus 32.87 BCM in FY’19. The petroleum products are transported for a distance of 362.36 Km from Mangalore to Bangalore via Hassan. All fuels grew at a slower rate than their 10-year averages, apart from nuclear. Further, the company has made commendable performance in the core area of exploration by registering Reserve Replacement Ratio of 1.19. Under OALP, companies are allowed to carve out areas they want to explore oil and gas in. The company has already started exploratory activities in few of the awarded blocks and has acquired 1,432.14 Square Kilometer (SKM) of 3D data in MN-DWHP-2018/1 block (Mahanadi deep-water) and 310 Line Kilometer (LKM) of 2D and 88.22 SKM of 3D seismic data in MBOSHP-2018/1 block (Mumbai Offshore-SW). [31] Life Insurance Corporation of India is the largest non-promoter shareholder in the company with 7.75% shareholding. It is owned by the Government of India, under the administrative control of the Ministry of Petroleum and Natural Gas. Many explorers are targeting gas. Since MSEZL is well connected by Air, Sea, Rail and Road, it offers excellent national and international logistics connectivity. All the major contracts have been awarded and the construction is in full swing. After OALP-V, ONGC''s tally has gone up to 24 and that of OIL to 25. [17], In June 2015, Oil and Natural Gas Corporation (ONGC) gave a Rs27bn ($427m) offshore contract for the Bassein development project to Larsen & Toubro (L&T). ONGC subsidiary Mangalore Refinery and Petrochemicals Limited (MRPL) is a schedule ‘A’ Miniratna, Central Public Sector Enterprise (CPSE) under the Ministry of Petroleum & Natural Gas. The first sub-Million bpd average annual demand growth since 2012 came on the back of a broad-based global economic slowdown, a contraction in global trade and manufacturing, and escalation in the global trade war(s). 2019 was a solid year for global exploration. The firm Gazpromneft, an oil subsidiary of the Russian natural gas and global energy company Gazprom, is giving bitcoin mining operations the chance to power operations by using excess gas … In step with its economic heft, the country’s energy demand graph has also charted a similar course – in the past decade, energy demand has grown at a pace of 5.3 percent CAGR versus a world average of 1.6 percent. The company operates onshore and offshore fields globally through joint ventures and partnerships. [43], ONGC was owed Rs. In terms of 3P category, in-place hydrocarbon accretion was 98.99 MMTOE and EUR was 40.74 MMTOE on account of exploratory efforts from the Company-operated areas in India. The OMPL complex spans 442 acres of land in Mangalore Special Economic Zone (SEZ). In the Brand Trust Report 2013, ONGC was ranked 191st among India's most trusted brands and subsequently, according to the Brand Trust Report 2014, ONGC was ranked 370th among India's most trusted brands. [1] Cumulative forex outgo on account of crude imports have exceeded USD 1 trillion over the past decade. The drop in crude prices had a positive impact on the country’s import bill. These 94 blocks cover an exploratory area of about 1,36,790 sq km over 16 Indian sedimentary basins. Mangalore Special Economic Zone Limited (MSEZL) is one of India’s vibrant and operational multi-product SEZs with investments exceeding US $2 billion so far. The Polymer plants of OPaL has 2X360 KTPA of LLDPE/HDPE Swing unit, 1X340 KTPA of Dedicated HDPE and 1x340 KTPA of PP. Oil and Natural Gas Corporation (ONGC) share price gained over 3 percent in the morning session on December 7 after the company's subsidiary ONGC Videsh made 'significant' oil strike in Colombia. Currently, ONGC Videsh has oil and gas production from 14 Assets, 4 Assets where hydrocarbons have been discovered and are at various stages of development, 16 Assets are under various stages of Exploration and 3 projects are pipeline projects. However, the rapid growth of renewables, spurred by a global consensus on a cleaner energy ecosystem, particularly post the historic COP-21 agreement in Paris in 2015, and rapid technology advances, is expected to eat into the share of fossil fuels. The share of ONGC in this partnership is 49.98% and that of TERI is 48.02%.12. He wanted the data repository, which houses geological data of Indian sedimentary basins, to become an independent profit centre. The Operating Profit Margin Ratio for FY’20 was 29.20% against 38.78% in FY’19 i.e. [10] According to PPAC figures, Domestic petroleum products consumption in FY’20 totalled 213.7 MMT, growing by just a measly 0.2 percent from FY’19, recording its worst ever growth. It has developed a 726.6 MW CCGT thermal power generation project at Palatana in Tripura which supply electricity to the power deficit areas of the northeastern states of the country. ONGC Videsh owns Participating Interests in 37 oil and gas assets in 17 countries and produced about 30.3% of oil and 23.7% of oil and natural gas of India’s domestic production in 2019-20. ONGC Videsh Limited, a Miniratna Schedule “A” Central Public Sector Enterprise (CPSE) of the Government of India under the administrative control of the Ministry of Petroleum & Natural Gas, is the wholly owned subsidiary and overseas arm of Oil and Natural Gas Corporation Limited (ONGC), the flagship national oil company (NOC) of India. [5] During FY 2012–13, ONGC had to share the highest ever under-recovery of INR 89765.78 billion (an increase of INR 17889.89 million over the previous financial year) towards the under-recoveries of Oil Marketing Companies (IOC, BPCL and HPCL). 2.8 Director means a person as defined under section 2(34) of the Act. A long success story of the collaboration between ONGC and TERI culminated in the formation of ONGC TERI Biotech Limited (OTBL) in 2. ONGC was ranked 82nd among India's most trusted brands according to the Brand Trust Report 2012, a study conducted by Trust Research Advisory. "You have to exponentially speed up," he said. HPCL owns & operates 2 major refineries producing a wide variety of petroleum fuels & specialties, one in Mumbai (West Coast) of 7.5 Million Metric Tonnes Per Annum (MMTPA) capacity and the other in Visakhapatnam, (East Coast) with a capacity of 8.3 MMTPA. The downtrend in consumption was largely attributable to the countrywide lockdown measurers implemented in late-March to contain the spread of Coronavirus resulting in significant demand cutbacks in large segments of the economy, especially in transportation and industry. Wind provided the largest contribution to renewables growth followed closely by solar. Consequently, while framing the Industrial Policy Statement of 1948, the development of the petroleum industry in the country was considered to be of utmost necessity. The NGDR is a public-private initiative for all non-coal and non-fuel resources. 1963: King Kirchner and Don Bodard purchased Unit Drilling Company from Woolaroc Oil Company.At that time, Unit consisted of three rigs which engaged in the contract drilling of oil and natural gas wells. Speaking at the signing ceremony, Oil Minister Dharmendra Pradhan said with the latest bid round, the government has in the last four years awarded 1.56 lakh square kilometre of acreage for finding and producing oil and gas. On the other hand, standalone net profit of the company dipped by 54.60 per cent YoY to Rs 2,878 crore. Further, the current demand slump is counter-cyclical as crude oil prices have trended lower through FY’20. With exports of over US $ 400 million worth of goods from its units, MSEZL has emerged as a favored manufacturing destination in India.9. ONGC has discovered 6 of the 7 commercially producing Indian Basins, in the last 50 years, adding over 7.15 billion tonnes of In-place Oil & Gas volume of hydrocarbons in Indian basins. The Directorate was converted into Commission and christened Oil & Natural Gas Commission on 14th August 1956.2. In 2019, the three together combined for over 80 percent of the total global energy demand. [32], Despite being owned by the Government of India, ONGC has repeatedly been found not claiming its rightful payments from private players, especially for the use of oil fields, oil rigs and concessions. ONGC Videsh Limited, a Miniratna Schedule “A” Central Public Sector Enterprise (CPSE) of the Government of India under the administrative control of the Ministry of Petroleum & Natural Gas, is the wholly owned subsidiary and overseas arm of Oil and Natural Gas Corporation Limited (ONGC), the flagship national oil company (NOC) of India. About Oil & Natural Gas Corporation Limited. Of the 94 blocks awarded in the first four rounds of OALP, Vedanta has won the maximum at 51. 2019 discovered volumes were gas ( 82 tcf ) malaviya followed this up by making ONGC apply for exploration in! Data repository, which were present in the core area of exploration by registering Reserve Replacement Ratio of 1.19 in! Mainly due to substantial decrease of 42.62 %, mainly on account of oil... 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