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Oil and Natural Gas Corporation (ONGC) - ongc news latest update

Published on 24 Jul, 2024

Oil and Natural Gas Corporation (ONGC) share news bse nse: ongc financial report analysis to buy or sell share and ongc news latest update

Overview of Oil and Natural Gas Corporation

Name: Oil and Natural Gas Corporation Limited (ONGC)
Founded: August 14, 1956
Headquarters: New Delhi, India
Industry: Oil and Gas
Type: Public Sector Undertaking (PSU)

ONGC Share | nse: ongc

ONGC (Oil and Natural Gas Corporation) is a leading oil and gas exploration and production company in India. It is listed on major stock exchanges, including the NSE and BSE, with its shares frequently traded and monitored by investors. The company's stock performance is influenced by global oil prices, production levels, and overall market conditions.

ONGC Business Operations

Core Services: ONGC is India's largest oil and gas exploration and production company. It is involved in the exploration, development, and production of crude oil and natural gas both onshore and offshore.
Upstream Operations: The company operates more than 11,000 kilometers of pipeline and owns numerous onshore and offshore drilling facilities, producing over 60% of India's crude oil and about 70% of its natural gas.
Integrated Services: ONGC's operations are vertically integrated, encompassing the entire hydrocarbon value chain from exploration to refining and marketing.

Financial highlights of ONGC

Revenue of ONGC: ONGC consistently posts strong financial results, with annual revenues exceeding INR 400,000 crore.
Profitability: The company maintains robust profitability with healthy profit margins, supporting substantial reinvestment into exploration and development activities.

ONGC Financial Summary (FY 2023-24)

Metric	FY 2023-24	FY 2023-24
Total Revenue (INR)	6,552,589.4 million	6,929,033 million
Sales (INR)	6,430,370.1 million	6,848,292.2 million
Net Income (INR)	492,213.8 million	367,093.3 million
Basic EPS (INR)	39.13	29.18
Gross Margin	37.89%	Not available
Operating Margin	11.52%	Not available
Net Profit Margin	7.65%	Not available
Return on Investment	11.46%	Not available
Total Assets (INR)	6,690,819.90 million	Not available
Total Liabilities (INR)	3,326,809.40 million	Not available
Total Equity (INR)	3,364,010.50 million	Not available

ONGC Strategic Initiatives

Exploration Expansion: ONGC continuously invests in exploration activities, both within India and internationally, to enhance its reserves and production capacity. Recent focus areas include deep-water and ultra-deep-water exploration.
Diversification: The company is diversifying its portfolio through investments in renewable energy, including wind and solar power projects, aligning with global energy transition trends.

Corporate Governance of ONGC

Leadership: ONGC is managed by a team of experienced professionals and its board of directors includes distinguished experts in the energy sector, ensuring robust corporate governance practices.
Ownership of ONGC: The Government of India holds a majority stake in ONGC, emphasizing its strategic importance to the nation’s energy security.

ONGC Sustainability and CSR

ONGC Environmental Initiatives: ONGC is committed to sustainable development, focusing on reducing its carbon footprint, improving energy efficiency, and adopting cleaner technologies.
ONGC CSR Activitie: The company actively participates in Corporate Social Responsibility (CSR) initiatives, including healthcare, education, and community development programs, with a focus on improving the quality of life in the regions where it operates.

Future Outlook of ONGC

Vision 2040

ONGC aims to enhance its energy production capabilities, diversify into new energy sources, and leverage advanced technologies to remain a leading player in the global energy market, contributing significantly to India's energy security and economic growth.

Topic	Useful details of ONGC
ONGC Official website	https://ongcindia.com
ONGC financial reports	https://ongcindia.com/web/eng/about-ongc/performance/financial/results
For Latest Updates	https://tryslat.com/blog
Telephone No of ONGC	011-26750998
Fax No of ONGC	011-26750991/ 26129091

FAQs

1. ONGC is a government company?

Yes, ONGC (Oil and Natural Gas Corporation) is a government-owned company. It is a public sector enterprise under the administrative control of the Ministry of Petroleum and Natural Gas of the Government of India.

2. What is the full form of ONGC?

The full form of ONGC is Oil and Natural Gas Corporation.

3. Who is the CEO of ONGC?

CEO of ONGC (Oil and Natural Gas Corporation) is Arun Kumar Singh.

4. Who controls ONGC?

ONGC controls by Arun Kumar Singh the Chairman and CEO of Energy Maharatna Oil and Natural Gas Corporation Limited (ONGC).

5. What is the financial performance of ONGC?

Here you can check latest financial reports https://ongcindia.com/web/eng/about-ongc/performance/financial/results

6. Will ONGC grow in future?

Yes, ONGC is expected to grow in the future due to increasing energy demand and strategic diversification.

Disclaimer

The information provided on this article is for general information purposes only and is not a substitute for professional advice. We make no guarantees about the completeness, reliability or accuracy of this information.