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Latest news about Oil & Natural Gas Corporation

ONGC to Invest Rs 4,600 Crore in Andhra Pradesh's Konaseema District for KG Basin Development 20 hours ago Yesterday

ONGC has announced plans to invest over Rs 4,600 crore in Andhra Pradesh's Konaseema District to boost operations in the Krishna-Godavari Basin. The project includes drilling 10 development wells, setting up two unmanned platforms, laying an offshore pipeline, and establishing an onshore gas processing facility. The development will cover contract areas Chandrika and GS49. ONGC has approached the Ministry of Environment and Forests for environmental clearance. The project is expected to create 150 direct and 310 indirect jobs. However, the Experts Appraisal Committee has deferred the proposal, requesting additional information including a biodiversity assessment and environmental restoration plan.

ONGC Sets September 4, 2025 as Record Date for ₹1.25 Final Dividend 9 days ago

ONGC Shares Dip Amid U.S. Tariff Announcement and Environmental Compensation Notices Jul 31, 2025

ONGC Faces ₹1 Crore Environmental Compensation Notice from Andhra Pradesh Pollution Control Board Jul 30, 2025

ONGC, BP, and Reliance Industries Join Forces for Saurashtra Basin Exploration Jul 28, 2025

More news about Oil & Natural Gas Corporation

22Jul 25

ONGC Approves Major Related Party Transactions Worth Over ₹22,000 Crore for International Projects

ONGC has approved several related party transactions for its international projects. For Mozambique, these include a ₹5,082.39 crore true-up amount receipt, an asset transfer estimated at ₹14,400 crore, and an amendment to guarantee support up to $3.072 billion. For South Sudan, ONGC approved cash call payments of up to $130 million for FY 2025-26 and $140 million for FY 2026-27. The board also appointed Shri Om Prakash Sinha as a Key Managerial Personnel and M/s Agarwal S. & Associates as Secretarial Auditor for five years.

22Jul 25

ONGC Board Approves Key Appointments and Material Related Party Transactions for Overseas Projects

ONGC's Board of Directors has made several important decisions, including appointing Shri Om Prakash Sinha as Director (Exploration) and M/s Agarwal S. & Associates as Secretarial Auditor. The board also recommended material related party transactions for shareholder approval, involving ONGC Videsh Limited's projects in Mozambique and South Sudan. These transactions include receipt of true-up amounts, asset transfers, and cash call payments for ongoing exploration and production activities.

17Jul 25

ONGC Plans Massive 10-12 MTPA Refinery in Jamnagar, Western India

ONGC, India's state-owned oil and gas company, is planning to expand its downstream operations by building a new refinery in Jamnagar, Gujarat. The proposed facility will have a capacity of 10-12 Million Tonnes Per Annum (MTPA). This strategic move aims to strengthen ONGC's position in the refining sector and could significantly impact India's energy landscape by increasing domestic refining capacity and potentially reducing dependence on imported refined products. The project is expected to generate employment and contribute to the economic development of the Jamnagar region.

11Jul 25

Fitch Affirms ONGC's 'BBB-' Rating, Outlook Remains Stable

Fitch Ratings has maintained Oil & Natural Gas Corporation's (ONGC) credit rating at 'BBB-' with a stable outlook. This rating, just above junk status, indicates ONGC's adequate capacity to meet financial commitments and moderate default risk. The stable outlook suggests no significant credit profile deterioration is expected in the near term. ONGC's rating maintenance comes amid industry challenges including fluctuating oil prices and increasing focus on renewable energy.

03Jul 25

ONGC Shares: Block Trade of 8.26 Lakh Shares Worth Rs. 20.29 Crore Executed

Oil & Natural Gas Corporation Ltd. (ONGC) experienced a significant block trade on the National Stock Exchange (NSE). The transaction involved 825,882 shares, valued at Rs. 20.29 Crore, with a price per share of Rs. 245.63. This large-scale trade indicates substantial interest in ONGC's stock among major market participants.

20Jun 25

ONGC Backs OVL's Overseas Expansion with $412 Million Guarantee

ONGC has authorized a corporate guarantee of up to $412.00 million for its overseas arm, ONGC Videsh Limited (OVL), to raise funds in international markets. The funds are intended for OVL's units to make overseas direct investments, supporting the subsidiary's global growth plans. This move aims to enhance OVL's capacity to pursue and finance international oil and gas projects, potentially accelerating its expansion, improving its competitive position, and diversifying ONGC's portfolio.

13Jun 25

ONGC Tackles Gas Release Incident at Rudrasagar Field

ONGC is managing a gas eruption from well RDS-147 in the Rudrasagar field. Control operations have been initiated, with necessary fluids prepared and the next phase scheduled to begin at dawn. The company is actively working to address the situation, though the full extent of the impact is yet to be determined.

12Jun 25

ONGC Brings Gas Release Situation Under Control at Rudrasagar Field

Oil & Natural Gas Corporation (ONGC) reported that it has successfully managed a gas release incident at its Rudrasagar field. The company stated that the situation, which had initially raised concerns, is now under control. No further details were provided about the cause of the gas release or the methods used to resolve it.

12Jun 25

Indian Oil Corporation Shares in Focus as Global Oil Prices Surge Amid Middle East Tensions

Oil prices have risen by 5.00%, approaching $70.00 per barrel due to escalating Middle East tensions, particularly an Iranian threat. This surge could significantly impact Oil & Natural Gas Corporation (ONGC), India's largest oil refiner and retailer. The price increase may affect ONGC's exploration and production revenues, refining margins, inventory positions, and overall market demand. Investors are advised to monitor the situation closely, considering potential government interventions and policy changes in response to rising global oil prices.

26May 25

ONGC-Led Joint Venture Restarts Production at Offshore PY-3 Field

Oil and Natural Gas Corporation (ONGC), India's state-owned oil and gas company, has successfully restarted production at the offshore PY-3 field in the Cauvery Basin. The field, operated by an ONGC-led joint venture, had been inactive for a period. While specific production volumes and partner details were not disclosed, this move aligns with ONGC's strategy to optimize offshore assets and contribute to India's energy security goals.

21May 25

ONGC Declares Final Dividend, Reports Q4 Financial Results

ONGC announced its Q4 financial results with revenue growth but declining profits. Revenue increased to ₹349.80 billion, up 3.74% quarter-on-quarter. However, EBITDA fell to ₹139.61 billion, and net profit decreased to ₹64.48 billion. The company's board recommended a final dividend of ₹1.25 per equity share, subject to shareholder approval.

08May 25

ONGC Refutes Mumbai High Tender Cancellation Reports, Affirms BP Partnership

ONGC has refuted reports suggesting the cancellation of the Mumbai High tender and confirmed that its partnership with BP for the Mumbai High field remains intact. This clarification addresses recent market speculations and reassures stakeholders about the continuity of operations and international collaborations in one of India's largest offshore oil fields.

17Apr 25

Reliance Industries May Benefit from Potential Tax Cuts on US Ethane and LPG Imports

The Indian government is contemplating the removal of import taxes on ethane and LPG from the United States. This potential policy change could significantly benefit major petrochemical companies like Reliance Industries Limited (RIL), which imports ethane for its crackers in Gujarat and Maharashtra. The move aims to diversify energy sources and reduce costs. If implemented, it could enhance the competitiveness of Indian petrochemical products globally, encourage increased imports from the US, and potentially lead to industry expansion.

25Mar 25

ONGC Unveils Ambitious Green Energy and International Expansion Plans

ONGC has approved a ₹3,300 crore investment in its subsidiary ONGC Green Limited for renewable energy expansion. This includes acquiring Ayana Renewable Power through a joint venture. Internationally, ONGC plans to invest up to ₹1,500 crore in Mozambique's Beas Rovuma Energy project and provide a USD 379.30 million loan for the Area 1 Mozambique Project. The company also announced key management changes.

11Mar 25

ONGC-NTPC Joint Venture Gets CCI Nod for Ayana Renewable Power Acquisition

The Competition Commission of India (CCI) has approved the acquisition of Ayana Renewable Power Private Limited by ONGC NTPC Green Private Limited, a joint venture between Oil and Natural Gas Corporation (ONGC) and NTPC Limited. This strategic move marks a significant expansion into the renewable energy sector for both state-owned energy giants. The acquisition is expected to enhance their renewable energy capabilities and contribute to India's clean energy goals.

07Mar 25

ONGC Petro Additions Exits Dahej SEZ as ONGC Appoints New Director of Technology and Field Services

ONGC Petro Additions has been granted exit from Dahej Special Economic Zone, transitioning to a Domestic Tariff Area unit. Separately, Shri Vikram Saxena, with over 35 years of E&P experience, has been appointed as ONGC's new Director of Technology and Field Services, effective March 6, 2025, until his superannuation on July 31, 2027.

04Mar 25

ONGC Green Expands Renewable Portfolio with ₹925 Crore Acquisition of PTC Energy

ONGC Green Limited, a subsidiary of Oil and Natural Gas Corporation (ONGC), has acquired 100% stake in PTC Energy Limited for ₹925 crore. PTC Energy operates 288.80 MW of wind energy capacity across seven locations in India. This acquisition aligns with ONGC's goal to achieve a 10 GW renewable energy portfolio by 2030 and net-zero emissions by 2038. The deal involves the purchase of 654,117,494 equity shares and is subject to post-closing adjustments. PTC Energy's turnover has shown steady growth, reaching ₹322.49 crore in FY'24.

24Feb 25

ONGC Unveils ₹1,200 Crore Investment in Green Subsidiary and Strategic Acquisition Plans

ONGC's board approved a ₹1,200 crore investment in its subsidiary ONGC Green Limited through a rights issue. The funds will be used to acquire 100% of PTC Energy Limited. ONGC also approved a ₹75 crore corporate guarantee for the acquisition. These moves signify ONGC's commitment to expanding its renewable energy portfolio and diversifying its operations.