State-run Oil and Natural Gas Corporation (ONGC) and Reliance Industries Ltd. have entered into a strategic agreement to jointly develop and share offshore hydrocarbon resources, marking a rare instance of collaboration between India’s largest public and private energy producers. The pact aims to optimize production from adjacent offshore blocks, reduce operational inefficiencies and accelerate output through coordinated development. By pooling technical expertise and infrastructure, the agreement is expected to unlock stranded reserves and improve recovery rates.
Oil and Natural Gas Corporation (ONGC), India’s largest state-run explorer, reported an 18% drop in standalone net profit for the second quarter of FY2025, dragged down by weaker crude prices despite stable production volumes. The company’s profit fell to Rs. 9,848 crore from Rs. 11,984 crore in the same period last year, as average crude realization slipped nearly 14% year-on-year to US$ 67.34 per barrel. Revenue declined modestly to Rs. 33,031 crore, while the board approved an interim dividend of Rs.
Oil and Natural Gas Corporation (ONGC) has announced a significant investment of Rs. 8,110 crore to develop and enhance onshore oil wells in Andhra Pradesh, marking a strategic push to strengthen domestic hydrocarbon production. The initiative aims to increase crude output, modernize infrastructure, and improve operational efficiency across key fields in the region. This capital infusion reflects ONGC’s commitment to supporting India’s energy security, fostering regional employment, and driving long-term growth in the upstream oil sector.
India’s state-run Oil and Natural Gas Corporation (ONGC) has entered into a strategic collaboration with Japanese shipping major Mitsui O.S.K. Lines (MOL) for the operation and management of its newly acquired ethane carriers. The partnership underscores ONGC’s efforts to strengthen its logistics capabilities in transporting ethane—a vital petrochemical feedstock—while leveraging Mitsui’s global expertise in maritime operations.
Public Sector Undertakings (PSUs) in India have emerged as attractive options for dividend-focused investors, offering steady returns alongside stable fundamentals. With interest rates fluctuating and equity markets experiencing volatility, high-dividend PSU stocks provide a reliable income stream while mitigating downside risks. Analysts highlight ten PSUs with the highest dividend yields, spanning sectors such as oil and gas, power, and financial services.
Oil and Natural Gas Corporation (ONGC) has announced plans to set up a helium recovery plant in Tamil Nadu, marking a significant step in India’s pursuit of strategic gas resources. The facility aims to extract helium—a critical element used in medical imaging, aerospace, and electronics—from natural gas streams, reducing reliance on imports. The project underscores ONGC’s commitment to diversifying its operations and contributing to India’s energy security.
State-owned Oil and Natural Gas Corporation (ONGC) posted a year-on-year drop in its consolidated net profit for the first quarter, largely due to lower crude oil prices in the global market. The company’s revenue from operations also moderated, reflecting weaker price realizations despite steady production levels. ONGC attributed the decline to softer international benchmarks for crude, which weighed on margins. However, natural gas output and sales provided partial relief.
Oil and Natural Gas Corporation (ONGC) has approved a capital expenditure of ₹4,600 crore to advance the development of its KG-DWN-98/2 deep-water block in the Krishna-Godavari (KG) Basin, located off India’s east coast. The investment is aimed at enhancing crude oil and natural gas output, contributing to the country’s energy security, and reducing dependence on imports.
UltraTech Cement, India’s largest cement producer, has officially denied being under investigation by the Competition Commission of India (CCI) concerning alleged cartelization in tenders floated by state-owned oil giant ONGC. While UltraTech’s recently acquired subsidiary, India Cements Ltd (ICEM), remains embroiled in the probe, the parent company clarified that no orders or financial scrutiny have been directed at UltraTech itself. The CCI’s inquiry, initiated following a complaint by ONGC, is centered on alleged collusive practices among multiple cement firms.
