From Simple English Wikipedia, the free encyclopedia
Oil and Natural Gas Corporation
is an
Indian
crude oil
and
gas
company. Its registered office is in
New Delhi
. It is owned by the
Government of India
, under the administrative control of the Ministry of
Petroleum
and
Natural Gas
. It is the largest oil and gas exploration and production company in the country, and produces around 70% of India's
crude oil
(about 57% of the country's total demand) and around 84% of its natural gas. In November 2010, the Government of India conferred the Maharatna status to ONGC. This gives it more freedom to make
investments
.
[1]
It was the top profit making public sector undertaking in India in the financial year 2021?22.
It is ranked 7th among the Top 250 Global Energy Companies by
Platts
. It was founded on 14 August 1956 by the
Government of India
. 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 the country. ONGC has discovered 6 of the 7 commercially producing Indian Basins, in the last 50 years, adding over 7.15 billion tonnes of In-place Oil & Gas volume of hydrocarbons in Indian basins.