Page 2 - Ongc

ONGC okays $500 million guarantee for MRPL to import oil from Aramco

ONGC approved a $500 million guarantee for MRPL's crude imports from Aramco as India plans to source up to 25% of its 2027 LPG imports from the US

ONGC starts India's first deepwater exploration well off Odisha coast

The state-owned explorer has launched its first deepwater exploratory well under a broader push to unlock offshore hydrocarbon reserves and strengthen India's energy security

No interim relief to Vedanta against takeover of Gujarat oil block by ONGC

The Division Bench said it could restore possession to Vedanta if persuaded later, after ONGC assumed control of the offshore block following the single-judge ruling

Delhi HC clears way for ONGC takeover of Vedanta-operated Gujarat block

The court upheld the Centre's refusal to extend Vedanta's production sharing contract, citing unilateral deductions from the government's share of profit petroleum

Delhi HC upholds Centre's decision to deny oil block extension to Vedanta

The Delhi High Court on Wednesday upheld the Centre's decision to not extend its Production Sharing Contract with Vedanta for an offshore oil block in Gujarat and hand over the operations to Oil and Natural Gas Corporation Ltd (ONGC). Justice Purushaindra Kumar Kaurav dismissed a petition by Vedanta Ltd seeking to set aside the Ministry of Petroleum and Natural Gas's direction passed on September 19, 2025, which rejected its 2021 application to extend the Production Sharing Contract (PSC) dated June 20, 1998, for the Suvali oil block. The petition also sought setting aside of the direction to ONGC to immediately take over the assets and operations of the petitioner over the PSC contract area. The original term of the PSC -- between the Centre, the petitioner, ONGC and Invenire Petrodyne Ltd-- was for 25 years, i.e. from June 30, 1998 till June 29, 2023, and was extendable for a specified period under certain circumstances. The petitioner was the designated operator under the ...

ONGC drills second geothermal well in Ladakh, advances India's first pilot

State-run Oil and Natural Gas Corporation (ONGC) has completed drilling its second geothermal well in Ladakh's Puga Valley, marking another step towards developing India's first pilot geothermal power plant. The company's research and development arm, ONGC Energy Centre, drilled the well to a depth of 1,000 metres at an altitude of more than 14,000 feet in about a month, improving on the timeline and cost of its first geothermal drilling campaign, ONGC said in a social media post. The latest well builds on the success of ONGC's first geothermal well in Puga, which produced steam at temperatures above the boiling point of water, demonstrating the area's geothermal resource potential, the company said. ONGC said the second well would support the development of India's first 1-megawatt electric (MWe) pilot geothermal power plant and could pave the way for commercial exploitation of geothermal energy in the country. The project's next phase includes plans to set up a 1-megawatt electri

ONGC to build 1.75 MT strategic petroleum reserve at Mangalore

ONGC has approved a 1.75 MT strategic petroleum reserve in Mangaluru, expanding India's emergency oil storage capacity amid heightened global supply risks

MRPL shares jump 9% as ONGC approves strategic oil reserve in Mangaluru

ONGC has approved an expansion of the country's strategic oil reserves, highlighting a push to strengthen energy resilience following the shock of the Iran war.

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