About ONGC India History

Can you tell me in detail about History of Oil and Natural Gas Corporation Limited (ONGC) in India as I want to know it before investing in it?

[pawan]

Oil and Natural Gas Corporation Limited (ONGC) was founded on 14 August 1956 by Government of India, which currently holds a 68.94% equity stake. It is an Indian multinational oil and gas company headquartered in Dehradun, Uttarakhand, India.

It is a Public Sector Undertaking (PSU) of the Government of India, under the administrative control of the Ministry of Petroleum and Natural Gas.

It is India's largest oil and gas exploration and production company. It produces around 77% of India's crude oil and around 62% of its natural gas.

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 India.

Its international subsidiary ONGC Videsh currently has projects in 17 countries. It has discovered 6 of the 7 commercially producing Indian Basins, in the last 50 years, adding over 7.1 billion tonnes of In-place Oil & Gas volume of hydrocarbons in Indian basins.

It has many matured fields with a current recovery factor of 25–33%. Its Reserve Replacement Ratio for between 2005 and 2013, has been more than one.

During FY 2012–13, ONGC had to share the highest ever under-recovery of INR 494.2 million towards the under-recoveries of Oil Marketing Companies (IOC, BPCL and HPCL).

On 31 March 2013, its market capitalization was INR 2.6 trillion (US$48.98 billion), making it India's second largest publicly traded company. In a government survey for FY 2011–12, it was ranked as the largest profit making PSU in India.

It has been ranked 357th in the Fortune Global 500 list of the world's biggest corporations for 2012. It is ranked 17th among the Top 250 Global Energy Companies by Platts.


It supplies crude oil, natural gas, and value-added products to major Indian oil and gas refining and marketing companies. It primary products crude oil and natural gas are for Indian market. Product-wise revenue breakup for FY 2012–13 (₹ billion):

Product Revenue
Crude Oil 562.38
Gas 168.88
LPG 31.48
Naptha 76.80
C2-C3 13.44
SKO 3.69
Others 1.59
Adjustments – 32.74
Total 825.52