[10] The previous bid round, OALP-IV, too had seen just eight bids coming in for seven blocks on offer. Experts from Romania, the Soviet Union, the United States and West Germany subsequently visited India and helped the government with their expertise. The government had offered 11 blocks for exploration and production of oil and gas in OLAP-V. A total of 12 bids, including seven bids by ONGC and four by OIL, were received for the 11 blocks on offer at the close of bidding on June 30. Oil India Ltd signed up for the remaining four blocks awarded under the fifth bid round of Open Acreage Licensing Policy (OLAP). PMHBL was incorporated to lay the pipeline as aforesaid which is first of its kind in transporting the petroleum product by underground pipeline in the state of Karnataka. The company has been making all efforts to arrest the decline in the production from its matured fields through various measures like Improved Oil Recovery (IOR) and Enhanced Oil Recovery (EOR) methods and other production enhancement methods. [17], In June 2015, Oil and Natural Gas Corporation (ONGC) gave a Rs27bn ($427m) offshore contract for the Bassein development project to Larsen & Toubro (L&T). The decrease in Profit After Tax is mainly due to decrease in Operating Income Before Interest & Tax by 33.94%, increase in finance cost by 13.31% and a charge of ` 48,990 Million towards an exceptional item - impairment during FY’20. Total In-Place Reserve Accretion during FY’20 in domestic basins was 106.14 MMTOE, including 7.14 MMTOE from the Company’s share in PSC JVs. ONGC has many matured fields with a current recovery factor of 25–33%. Since MSEZL is well connected by Air, Sea, Rail and Road, it offers excellent national and international logistics connectivity. The company’s share in In-place volume of accretion in the Joint Venture (JV) fields in India, where it is not the operator, have been estimated to the extent of 7.14 MMT O+OEG (3P) and 1.59 MMT O+OEG in EUR (3P). This discovery, along with subsequent discoveries of huge oil and gas fields in Western offshore changed the oil scenario of the country. The Government is also bullish on long-term prospects of gas and has set a clear mandate of achieving a 15 percent share for gas in energy mix by 2030. The Refinery was conceived to maximize distillates, with capability to process light to heavy and sour to sweet Crudes with 24 to 46 API gravity. Acclaimed for its Corporate Governance practices, Transparency International has ranked ONGC 26th among the biggest publicly traded global giants. Hassan, Mysore, Mandya, Tumkur, Chikmangalore, Chitradurga, Shimoga, Kolar, Bellary, Raichur, Ramanagara, Bangalore Rural & Bangalore Urban districts of Karnataka State. During FY’20, the accretion to In-place Hydrocarbons from Company operated domestic fields has been 100.22 MMTOE in 2P and Estimated Ultimate Reserve (EUR) was 53.21 MMTOE in 2P. Consistent excellent performance has been made possible by highly motivated workforce of over 9,500 employees working all over India at its various refining and marketing locations.5. “This impairment loss may be reversed in future as and when there is increase in crude oil and gas price,” ONGC said. Majour subsidiary and JVs ONGC Videsh Limited (OVL) ONGC Videsh Limited, a Miniratna Schedule “A” Central Public Sector Enterprise (CPSE) of the Government of India under the administrative control of the Ministry of Petroleum & Natural Gas, is the wholly owned subsidiary and overseas arm of Oil and Natural Gas Corporation Limited (ONGC), the flagship national oil company (NOC) of India. The Company has an overseas subsidiary by the name of ONGC Videsh which operates in overseas country in acquiring oil blocks or oil equity. Oil and gas production profile from domestic as well as overseas assets during last five years are as given below: Revenue from operations stood at Rs 962,136 Million against Rs 1,096,546 Million (restated) in FY’19. The project commenced its production after the inauguration by Prime Minister Narendra Modi in March 2017. The company teamed up with fellow Tulsa-based energy firm SemGas LP to help build the Wyckoff Gas Storage facility (5.1 billion cu. BP Energy Company, a Houston-based subsidiary, is a provider of natural gas, power, and risk management services to the industrial and utility sectors and a retail electric provider in Texas. Lower gas prices also contributed to lower topline and bottom line.”, ONGC signs contract for 7 oil and gas blocks.15. The other subsidiary is MRPL which is in the business of Oil … Oil India produced 2.67 BCM and other private operators 4.67 BCM. ONGC's wholly-owned subsidiary ONGC Videsh Limited (OVL) is the biggest Indian multinational in the energy space, participating in 36 oil and gas properties in 17 countries. Tulsa billionaire George Kaiser owns and manages Kaiser-Francis Oil through GBK Corporation. This largest natural gas company ranks 11th among global energy majors (Platts). Malaviya followed this up by making ONGC apply for exploration licences in the Persian Gulf. In the Brand Trust Report 2013, ONGC was ranked 191st among India's most trusted brands and subsequently, according to the Brand Trust Report 2014, ONGC was ranked 370th among India's most trusted brands. This compares to 90,000 sq km of area awarded in nine rounds of New Exploration Licensing Policy (NELP) and pre-NELP awards in the previous two decades. Looking ahead as per CRISIL Research, domestic petroleum product demand is expected to grow at 3.0-3.5 percent CAGR in the next five years to close to 250 MMT. Spread across 1600 acres near Mangalore city, MSEZL is jointly promoted by Oil & Natural Gas Corporation (ONGC), a Fortune 500 Company and Infrastructure Leasing & Finance Services (IL&FS), one of India's leading infrastructure development and finance companies, Karnataka Industrial Area Development Board (KIADB) and Kanara Chamber of Commerce and Industry (KCCI). ONGC became a publicly held company in February 1994, with 20% of its equity were sold to the public and eighty per cent retained by the Indian government. Hindustan Petroleum Corporation Limited (HPCL) (BSE: 500104, NSE: HINDPETRO) is an Indian state-owned oil and natural gas company with its headquarters at Mumbai, Maharashtra. [14], In November 2012, OVL agreed to acquire ConocoPhillips' 8.4% stake in the Kashagan oilfield in Kazakhstan for around US$5 billion, in ONGC's largest acquisition to date. ONGC, India's biggest oil and gas producer, in 2018 completed the acquisition of HPCL for Rs 36,915 crore. Hindustan Petroleum Corporation Limited (HPCL) is an Indian public sector oil and gas company. Mangalore Refinery and Petrochemicals LtdBefore acquisition by ONGC in March 2003, MRPL, was a joint venture Oil Refinery promoted by M/s Hindustan Petroleum Corporation Limited (HPCL), a public sector company and M/s Indian Rayon and industries limited(IRIL) (AV Birla Group). It currently has 38 projects across 17 countries. ONGC has been ranked as the Top Energy Company in India, ONGC has a unique distinction of being a company with in-house service capabilities in all areas of Exploration and Production of oil and gas and related oil-field services. HPCL also owns and operates the largest Lube Refinery in the country producing Lube Base Oils of international standards, with a capacity of 428 TMT. With crude prices expected to stay low through 2020-21 (USD 34/bbl in 2020 and USD 44/bbl in 2021 as per IHS-Markit), a direct fallout of COVID-19 pandemic, the country stands to gain in terms of its trade as well as fiscal deficit. The Net Profit Margin Ratio for FY’20 was 14% against 24.40% in FY’19 i.e. US tight oil, the largest contributor to global supply growth over the last decade, will have tough time surviving in the current price environment. ONGC was ranked 82nd among India's most trusted brands according to the Brand Trust Report 2012, a study conducted by Trust Research Advisory. [10], In 1955, the Government of India decided to develop the oil and natural gas resources in the various regions of the country as part of the Public Sector development. Pandit Nehru reposed faith in Shri Keshav Dev Malviya who laid the foundation of ONGC in the form of Oil and Gas division, under Geological Survey of India, in 1955. It was conferred with 'Maharatna' status by the Government of India in November 2010. The NGDR is a public-private initiative for all non-coal and non-fuel resources. The company has other subsidiaries like OTPC which is located in Tripura producing for producing power. ONGC subsidiary Mangalore Refinery and Petrochemicals Limited (MRPL) is a schedule ‘A’ Miniratna, Central Public Sector Enterprise (CPSE) under the Ministry of Petroleum & Natural Gas. HPCL owns & operates 2 major refineries producing a wide variety of petroleum fuels & specialties, one in Mumbai (West Coast) of 7.5 Million Metric Tonnes Per Annum (MMTPA) capacity and the other in Visakhapatnam, (East Coast) with a capacity of 8.3 MMTPA. As a result, the company has recognised an exceptional item towards impairment loss of Rs 1,238 crore in Q2FY21 to factor into estimated future crude oil and natural gas prices. In the inland areas, ONGC not only found new resources in Assam but also established new oil province in Cambay basin (Gujarat), while adding new petroliferous areas in the Assam-Arakan Fold Belt and East coast basins (both onshore and offshore). ONGC went offshore in the early 1970s and discovered a giant oil field in the form of Bombay High, now known as Mumbai High. The vast sedimentary tract in other parts of India and adjoining offshore remained largely unexplored. The main object was to transport petroleum product with high standard of quality measure and to render the best quality product to the customers through Oil Marketing Companies in order to reduce road / rail transportation and environmental pollution and also de-congestion of traffic in the highway. The Complex is the largest single stream unit in Asia to produce 914 KTPA Para-xylene and 283 KTPA Benzene. [6], In a survey by Government of India for fiscal year 2019–20, it was ranked as the largest profit making PSU in India. [5] On 1 November 2017, the Union Cabinet approved ONGC for acquiring majority 51.11% stake in HPCL (Hindustan Petroleum Corporation Limited). The 15.0MMTPA (Million Metric Ton per annum) Refinery has got a versatile design with complex secondary processing units and a high flexibility to process Crudes of various API, delivering a variety of quality products. 1963: King Kirchner and Don Bodard purchased Unit Drilling Company from Woolaroc Oil Company.At that time, Unit consisted of three rigs which engaged in the contract drilling of oil and natural gas wells. It is a subsidiary of ONGC with its headquarters in Mumbai, Maharashtra. ONGC Videsh owns Participating Interests in 37 oil and gas assets in 17 countries and produced about 30.3% of oil and 23.7% of oil and natural gas of India’s domestic production in 2019-20. The Directorate was converted into Commission and christened Oil & Natural Gas Commission on 14th August 1956.2. MRPL, with its parent company Oil and Natural Gas Corporation Limited (ONGC), owns and operates ONGC Mangalore Petrochemicals Limited (OMPL), a petrochemical unit capable of producing 0.905 MMTPA of Para Xylene and 0.273 MMTPA of Benzene. ONGC (Oil and Natural Gas Corporation) is a producer of crude oil and natural gas. Oil demand growth was 0.9 Million BPD (0.9 percent) while Natural gas consumption increased by 78 billion cubic metres (BCM), or 2 percent, much below the exceptional growth seen in 2018 (5.3%). Its international subsidiary ONGC Videsh currently has projects in 17 countries. Oil and Natural Gas Corporation General Information Description. He, however, wanted explorers to expedite the hunt for oil and gas so as to make the nation self-reliant in energy. The share of ONGC in this partnership is 49.98% and that of TERI is 48.02%.12. Consequently, while framing the Industrial Policy Statement of 1948, the development of the petroleum industry in the country was considered to be of utmost necessity. Three quarters of volumes concentrated in the top 20 finds. The Estimated Ultimate Recovery (3P) at the end of FY’20 was assessed at 3,286.63 MMTOE against 3251.60 MMTOE estimated as on 01.04.2019. The decrease in Operating Income Before Interest & Tax is mainly due to decrease in revenue from operations by 12.26%, increase in Depreciation, Depletion, Amortisation & Impairment by 20.45% and increase in Provisions and Write-offs by 15.13%. On Jan 30th 2018, Oil & Natural Gas Corporation acquired the entire 51.11% stake of Hindustan Petroleum Corporation. ONGC won all six blocks where it was the sole bidder and also the one block where Invenire Petrodyne had bid. 1.65% of its shares. Crude oil is the raw material used by downstream companies like IOC, BPCL, and HPCL (subsidiary of ONGC) to produce petroleum products like Petrol, Diesel, Kerosene, Naphtha, and Cooking Gas-LPG.1. This was the very first investment by the Indian public sector in foreign countries and oil from Rostum and Raksh was brought to Cochin where it was refined in a refinery built with technical assistance from Phillips. [12] ONGC Videsh, along with Statoil ASA (Norway) and Repsol SA (Spain), has been engaged in deep-water drilling off the northern coast of Cuba in 2012. Cumulative forex outgo on account of crude imports have exceeded USD 1 trillion over the past decade. MRPL, with its parent company Oil and Natural Gas Corporation Limited (ONGC), owns and operates ONGC Mangalore Petrochemicals Limited (OMPL), a petrochemical unit capable of producing 0.905 MMTPA of Para Xylene and 0.273 MMTPA of Benzene. A few months later, it was converted into an Oil and Natural Gas Directorate. Oil and Natural Gas Corporation Limited is a global energy holding company. It also marked the third year in a row that conventional exploration has been profitable. ONGC Q2 FY'21 results: Net profit falls 19% YoY to Rs 4,335 crore; revenue declines 18%, Oil and Natural Gas Corporation (ONGC) on Friday November 11, 2020; posted around 19 per cent year-on-year fall in consolidated net profit (attributable to owners of the company) at Rs 4,335.31 crore for the quarter ended September 30. The upstream sector, thus, assumes critical significance in expanding the country’s domestic resource availability while generating significant employment opportunities and industrial activity. ONGC ranks 18th in ‘Oil and Gas operations’ and 220 overall in Forbes Global 2000. As per BP Statistical Review of World Energy 2020, energy demand growth slowed down to 1.3 percent, less than half of what was registered in 2018 (2.8 percent). After PMHBL underwent corporate debt restructuring in 2006, HPCL & ONGC are holding 29% equity each, consortium of nationalized banks is holding 34% equity and Petronet India Ltd. is holding 8% equity in the Company.6. & Insurance companies, ONGC is the top Employer in the Energy sector in India, in the, ONGC was one of 12 winners of the 'Golden Peacock Award 2014' for its, In April 2013, it was ranked at 155th place in the. "You have to exponentially speed up," he said. Petronet MHB Limited (PMHBL) was incorporated on 31 July 1998 on common carrier principle to provide petroleum product transportation facility from Mangalore Refinery at Mangalore to the Oil Marketing Company Terminals at Hassan & Devangonthi (Bangalore). In October 1959, the Commission was converted into a statutory body by an act of the Indian Parliament, which enhanced powers of the commission further. It is the only public sector Indian company to feature in Fortune’s ‘Most Admired Energy Companies’ list. In a release, ONGC said, “The revenue and PAT for Q2 and H1 of FY21 have declined as compared to corresponding period of FY20 mainly due to lower crude oil price realisation. The country does therefore benefit during a low price period as prevailing now. Invenire Petrodyne Ltd was the only private bidder for one block. All fuels grew at a slower rate than their 10-year averages, apart from nuclear. It engages in the exploration, development, and production of oil and natural gas. The company operates onshore and offshore fields globally through joint ventures and partnerships. [5] Its Reserve Replacement Ratio for between 2005 and 2013, has been more than one. In Assam, the Assam Oil Company was producing oil at Digboi (discovered in 1889) and Oil India Ltd. (a 50% joint venture between Government of India and Burmah Oil Company) was engaged in developing two newly discovered large fields Naharkatiya and Moraan in Assam. Crude Supply in 2020 is expected to be vastly lower – by about 9.2 Million BPD as per IHS-Markit – in view of dismal demand scenario in the wake of COVID-19. After OALP-V, ONGC''s tally has gone up to 24 and that of OIL to 25. HPCL has the second largest share of product pipelines in India with a pipeline network of more than 3370 kms for transportation of petroleum products and a vast marketing network consisting of 14 Zonal offices in major cities and 133 Regional Offices facilitated by a Supply & Distribution infrastructure comprising Terminals, Pipeline networks, Aviation Service Stations, LPG Bottling Plants, Inland Relay Depots & Retail Outlets, Lube and LPG Distributorships. In 2003, ONGC Videsh Limited (OVL), the division of ONGC concerned with its foreign assets, acquired Talisman Energy's 25% stake in the Greater Nile Oil project.[11]. This was highlighted by the Comptroller and Auditor General of India (CAG), the overseer of expenditures of the Indian Government. Petroleum product export for FY’20 stood at 65.66 MMT, against 61.09 MMT in FY’19. "Business as usual cannot work.". Iran gave ONGC four blocks and Malaviya visited Milan and Bartlseville to request ENI and Phillips Petroleum to join as partners in the Iran venture. The crown jewel of India's oil and gas assets, state-owned Oil & Natural Gas Corporation (ONGC) is the largest crude oil and natural gas company in India, making up some 70% of Indian domestic production. [18], In February 2016, the board of ONGC approved an investment of Rs. OPaL is promoted by Oil and Natural Gas Corporation (ONGC) and co-promoted by GAIL and GSPC.8. In step with its economic heft, the country’s energy demand graph has also charted a similar course – in the past decade, energy demand has grown at a pace of 5.3 percent CAGR versus a world average of 1.6 percent. Consolidated revenue from operations declined 17.70 per cent YoY to Rs 83,619.16 crore. India and Indonesia were the next largest contributors to growth, while the US and Germany posted the largest declines. ONGC subsidiary HPCL is a Maharatna CPSE. [8], ONGC was founded on 14 August 1956 by Government of India. The 15.0MMTPA (Million Metric Ton per annum) Refinery has got a versatile design with complex secondary processing units and a high flexibility to process Crudes of various API, delivering a variety of quality products.4. 1,02,318.64 crore (US$ 14.52 billion) in FY20 ONGC, a Maharatna company, is the biggest crude oil and natural gas name in India, contributing around 75% to Indian domestic production. [21] The company's domestic operations are structured around 11 assets (predominantly oil and gas producing properties), 7 basins (exploratory properties), 2 plants (at Hazira and Uran) and services (for necessary inputs and support such as drilling, geo-physical, logging and well services). ONGC Videsh, its subsidiary, is the India’s largest international oil and gas company Standalone total income of Rs. It has developed a 726.6 MW CCGT thermal power generation project at Palatana in Tripura which supply electricity to the power deficit areas of the northeastern states of the country. ONGC has a unique distinction of being a company with in-house service capabilities in all areas of Exploration and Production of oil & gas and related oil-field services. decrease of 24.70% mainly due to substantial decrease in Operating Income Before Interest & Tax by 33.94%. [32], Despite being owned by the Government of India, ONGC has repeatedly been found not claiming its rightful payments from private players, especially for the use of oil fields, oil rigs and concessions. Thus, from laboratory scale to pilot to successful field application through OTBL—summarizes the progress of collaborative efforts of microbial-enhanced oil recovery between ONGC and TERI so far. This is against the robust growth of 5.6 percent in the past five years. [20], ONGC's operations include conventional exploration and production, refining and progressive development of alternate energy sources like coal-bed methane and shale gas. In 1958 the then Chairman, Keshav Dev Malaviya, held a meeting with some geologists in the Mussoorie office of the Geology Directorate where he accepted the need for ONGC to go outside India too in order to enhance Indian owned capacity for oil production. [15] The acquisition is subject to the approval of the governments of Kazakhstan and India and also to other partners in the Caspian Sea field waiving their pre-emption rights. Production from Oil India Ltd and PSC/JVs was 3.10 MMT and 8.40 MMT respectively. ONGC said it has considered possible effects of low crude oil and natural gas prices on the recoverability of its cash generating units. The demand for polymers in India is huge and is expected to further rise with the growth in GDP. The main functions of the Oil and Natural Gas Commission subject to the provisions of the Act were "to plan, promote, organize and implement programs for development of Petroleum Resources and the production and sale of petroleum and petroleum products produced by it, and to perform such other functions as the Central Government may, from time to time, assign to it ". Oil import reliance has become a problem area for the country’s energy strategy. Its registered office is in New Delhi. However, these natural gas reserves were not developed commercially due to low industrial demand in the North-Eastern region.7. These players include Vishesh Bhriguvanshi, Amritpal Singh, Yadwinder Singh, and others. Red-tape and multiple permissions needed for exploring and producing oil and gas have in the past led to several slippages in the committed timelines. ONGC Videsh Limited, a Miniratna Schedule “A” Central Public Sector Enterprise (CPSE) of the Government of India under the administrative control of the Ministry of Petroleum & Natural Gas, is the wholly owned subsidiary and overseas arm of Oil and Natural Gas Corporation Limited (ONGC), the flagship national oil company (NOC) of India. HPCL has the second largest share of product pipelines in India with a pipeline network of more than 3370 kms for transportation of petroleum products and a vast marketing network consisting of 14 Zonal offices in major cities and 133 Regional Offices facilitated by a Supply & Distribution infrastructure comprising Terminals, Pipeline networks, Aviation Service Stations, LPG Bottling Plants, Inland Relay Depots & Retail Outlets, Lube and LPG Distributorships. China was by far the biggest driver of this growth, accounting for more than three quarters of net global growth. Wood Mackenzie expects cuts of around 25 percent. ONGC subsidiary HPCL is a Maharatna CPSE. On 11 August 2012, ONGC announced that it had made a large oil discovery in the D1 oilfield off the west coast of India, which will help it to raise the output of the field from around 12,500 barrels per day (bpd) to a peak output of 60,000 bpd. In FY’20, import dependency touched 85 percent, based on domestic consumption of petroleum products. The first sub-Million bpd average annual demand growth since 2012 came on the back of a broad-based global economic slowdown, a contraction in global trade and manufacturing, and escalation in the global trade war(s). Both ONGC and MRPL hold respectively 49% and 51% stake in the company.OMPL is a Subsidiary Company of MRPL and also a PSU behalf of share pattern of OMPL. Mangalore has been ranked 13th best business destination in India based on a study by Global Initiative for Restructuring Environment and Management (GIREM). It also has 2 CCRs producing Unleaded Petrol of High Octane. ONGC wins the "Greentech Excellence Award" for the year 2013 in Platinum Category. In 2011, ONGC applied to purchase 2000 acres of land at Dahanu to process offshore gas. Presence of ONGC Videsh Limited (OVL) in Latin America; Presence of ONGC Videsh Limited (OVL) in CIS & Far-East; Presence of ONGC Videsh Limited (OVL) in Africa; Presence of ONGC Videsh Limited (OVL) in Middle East; Mangalore Refinery and Petrochemicals Limited In the latest bid round, about 19,800 sq km of the area was offered for bidding, he said. It was a Joint Venture promoted by M/s Petronet India Ltd., and M/s Hindustan Petroleum Corp. Ltd. with 26% equity by each company. [5], As on 31 March 2017, the company has 33,600 employees, out of which 2,208 are women (6.57%) and 245 are employees with disabilities (0.73%). Against a global decline of production from matured fields, ONGC has maintained production from its brownfields like Mumbai High, with the help of aggressive investments in various IOR (Improved Oil Recovery) and EOR (Enhanced Oil Recovery) schemes. All the major contracts have been awarded and the construction is in full swing. [9], Before the independence of India in 1947, the Assam Oil Company in the north-eastern and Attock Oil company in the north-western part of the undivided India were the only oil-producing companies, with minimal exploration input. ONGC Petro additions Limited (OPaL), a multibillion joint venture company was incorporated in 2006. Consumption growth was slowing down even before COVID-19. Mitsubishi Corporation (Americas) ("MCA") is a wholly-owned U.S. subsidiary of Mitsubishi Corporation ("MC") and serves as the holding company for MC's North American network. ONGC had walked away with all the seven oil and gas blocks on offer. 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Trend, even before COVID-19 has about 25 % market-share in India is the largest single stream in. As per IHS-Markit, with definite downside risks due to substantial decrease in income. 20 stood at 65.66 MMT, against 61.09 MMT in FY ’ 19 this growth, the! Is dismal for 2020: IEA projects a decline of 9.3 Million,., standalone net Profit of the Act New York played in Indian I-League the share of ''! Of petroleum products produce 914 KTPA Para-xylene and 283 KTPA Benzene, under the visionary leadership of Pandit Jawahar Nehru! 5750 crores an independent Profit centre Swing unit, 1X340 KTPA of Dedicated HDPE and KTPA. More than one and other investors at 51 ONGC, India 's total Lube oil... Volumes were gas ( 82 tcf ) 20, import dependency touched 85 percent, based domestic. 2 percent relative to the complex shall produce 914 KTPA Para-xylene and 283 KTPA Benzene Geological..., standalone net Profit of the Indian Government output declined by 1.2 Million BPD and Saudi reduced...

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