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Explained: Why India is expanding its strategic oil reserves after Iran war

ONGC has approved a 1.75-million-tonne expansion of India's strategic oil reserves at Mangaluru, as the government moves to strengthen energy security after the Iran war exposed supply risks

ONGC approves strategic oil reserve expansion after Iran war exposes risks

The ONGC board gave the green light to add 1.75 million tons of capacity in Mangalore, Karnataka, to national crude reserves, according to a filing

Q1FY27 earnings preview: Oil & gas, aviation brace for crude impact

Q1 earnings preview: ICICI Securities said that OMCs could report significant losses, driven by higher retail fuel losses, inventory losses and a sharp rise in LPG under-recovery.

Strengthening India's energy security beyond the Strait of Hormuz crisis

We can hope for peace opening the Strait of Hormuz, but must prepare for war closing it

Govt raises ONGC chairman entry age to 59, offers up to five-year tenure

The government has relaxed the eligibility conditions for appointing the next chairman of state-owned ONGC by raising the maximum entry age to 59 years and offering the successful candidate a fixed three-year term extendable by up to two years, widening the pool of eligible contenders to head India's largest oil and gas producer. The Public Enterprises Selection Board (PESB), the government's headhunter for appointments to state-run firms, has invited applications for the post, which will fall vacant on December 7 when incumbent Arun Kumar Singh completes his extended tenure. Under the Oil and Natural Gas Corporation (ONGC) advertisement, candidates should not have attained the age of 59 years on the date of occurrence of the vacancy -- December 7, 2026. The selected candidate will initially be appointed for three years, with the tenure extendable by another two years after a performance review. "Any employment or extension of tenure beyond the age of 60 shall be on a contract basis

Upstream oil PSUs may see greater focus on exploration in evaluations

The oil ministry is considering increasing the weightage of exploration activities in the performance assessment of upstream oil PSUs to boost domestic hydrocarbon discoveries

ONGC now a 'gas-and-oil' company as output shifts to natural gas: Chairman

Oil and Natural Gas Corp (ONGC) should increasingly be seen as a "gas-and-oil" company rather than an oil-and-gas producer, its chairman Arun Kumar Singh said, underscoring a strategic shift as natural gas output outpaces crude oil. "Gas is now slightly more than oil in our portfolio," Singh told analysts, adding that ONGC's future growth will be driven largely by gas production even as crude output remains broadly flat without major new discoveries. "We should call ourselves a gas and oil company, not an oil and gas company." Singh said gas is emerging as the dominant growth driver for the state-run explorer, with rising domestic demand, supportive pricing reforms and new field developments pushing production higher. "Gas is a more valued fuel in the Indian context, and ONGC is gradually becoming a more gas-heavy company," Singh said, adding that gas output already exceeds oil and will continue to expand over the coming years. While oil production is likely to remain flat, gas ou

Why govt wants ONGC to build India's next ₹15,000 crore strategic reserve

The facility would expand India's existing strategic storage capacity of 5.33 MMT by roughly one-third amid geopolitical conflicts and oil supply disruptions

Royalty rate reversal, cooling crude oil prices negative for ONGC, OIL

The partial reversal of royalty benefits and uncertainty over crude oil prices could weigh on earnings, though higher production and gas output remain supportive factors

OMCs gain up to 5%; upstream stocks fall 2% as Brent dips below $90/bbl

Oil market companies (OMCs) gain, while upstream oil companies fall after brent crude oil prices fell

ONGC yet to take control of Cambay Block as Vedanta challenges govt move

State-owned Oil and Natural Gas Corporation (ONGC) has yet to take operational control of the Cambay basin block CB-OS-02 in Gujarat after Vedanta challenged the government's decision not to extend the block's contract term. The Ministry of Petroleum and Natural Gas, through a September 19, 2025, directive, rejected an extension of the contract for the block, in which ONGC holds a 50 per cent participating interest, Vedanta holds 40 per cent, and Invenire Petrodyne Limited holds 10 per cent. Following the government's decision, ONGC said it was instructed to immediately take over operations of the block and deployed an operational team to Suvali in Gujarat from September 20, 2025. However, the company said Vedanta has not yet handed over operations. "Pursuant to the Government of India directive, ONGC requested Vedanta for the immediate handover and deployed its operational team at Suvali, Gujarat, from September 20, 2025. However, Vedanta has not yet handed over the operations," ON

ONGC says gas to drive revenue growth; ₹33,000 crore projects underway

New well gas constituted 17 per cent of production and 21 per cent of revenue in FY26 from ONGC nomination gas portfolio

ONGC drops 4% as Q4 results miss estimates; production weakness weighs

ONGC share price fell 4 per cent on weak Q4FY26 results as lower oil and gas production hurt earnings. Analysts see royalty changes supporting FY27 outlook

ONGC Q4 results: Net profit rises 3% to ₹6,650 cr, revenue up marginally

State-owned Oil and Natural Gas Corporation (ONGC) on Tuesday reported a 3 per cent rise in March quarter profit to Rs 6,649.97 crore as higher oil and gas prices helped negate a drop in output. Net profit of Rs 6,649.97 crore in January-March -- the fourth quarter of 2025-26 fiscal year -- compared with Rs 6,448.28 crore earnings in the corresponding period of the previous year and Rs 8,371.85 crore in the preceding three months, according to a stock exchange filing by the company. Revenue from operations rose marginally to Rs 35,928.18 crore during the quarter from Rs 34,982.23 crore in Q4 of FY25. For the full fiscal year, ONGC reported a net profit of Rs 32,894.02 crore, down 7.6 per cent from Rs 35,610.32 crore of 2024-25 fiscal year. ONGC wrote off Rs 4,876.75 crore in exploration well cost during the quarter under review after the wells drilled did not yield any commercial hydrocarbon discoveries. This compared with Rs 4,173.04-crore write-off in the corresponding quarter of

Q4 results: IRCTC, ONGC, Siemens, AstraZeneca, JK Tyre, 273 more on May 26

Q4FY26 company results: Firms including Bayer CropScience, AIA Engineering, Aequs, Astra Microwave Products, and Balaji Telefilms are also to release their January-March earnings today

ONGC selects BP arm to boost output from Western Offshore fields

ONGC has appointed BP Exploration Services India as technical service provider to enhance oil and gas production from Western Offshore fields through technology and operational improvements

Ladakh gets clean energy boost as ONGC geothermal project pact extended

Ladakh is set to take a significant step towards clean energy generation with Lt Governor Vinai Kumar Saxena approving the setting up of India's first geothermal power project by the Oil and Natural Gas Corporation at Puga valley in Ladakh, at an altitude of over 14,000 feet. LG approved a five-year extension of the memorandum of understanding (MoU) with the Oil and Natural Gas Corporation for the construction of the country's first geothermal power project, officials said. The project, to be developed at an altitude of over 14,000 feet in eastern Ladakh, aims to commercially harness geothermal energy as a sustainable alternative source of power, they said. The earlier tripartite MoU signed on February 6, 2021, between the Ladakh administration, the Ladakh Autonomous Hill Development Council (LAHDC), Leh, and the ONGC energy centre expired on February 5, 2026. ONGC had sought an extension, citing delays caused by harsh weather conditions and difficult terrain, they said. Consideri

ONGC: Tender to hire jack-up rigs cancelled due to steep surge in price

ONGC has cancelled four tenders to hire 15 jack-up rigs since 2014, according to a report

Oil below $100/barrel: OMCs rise up to 6%; upstream oil stocks fall 3%

Crude oil prices fell for a second day ‌on Wednesday on expectations that peace talks between the US and Iran may resume

Upstream oil stocks mixed as crude hits $105; RIL, ONGC under pressure

Crude oil prices topped the $100 per barrel mark after the failure of ceasefire talks between the United States and Iran in Islamabad over the weekend to reach an agreement