Oil and Natural Gas Corporation (ONGC) is an Indian government-owned crude oil and natural gas corporation. Its registered office is in New Delhi. It is under the ownership of Ministry of Petroleum and Natural Gas, Government of India. It is the largest oil and gas exploration and production company in the country, and produces around 70% of India's crude oil (equivalent to around 57% of the country's total demand) and around 84% of its natural gas.[5] In November 2010, the Government of India conferred the Maharatna status to ONGC.

In a survey by Government of India for fiscal year 2019–20, it was ranked as the largest profit making PSU in India. It is ranked 7th among the Top 250 Global Energy Companies by Platts.

ONGC was founded on 14 August 1956 by 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. Its international subsidiary ONGC Videsh currently has projects in 17 countries. ONGC has discovered 7 out of the 8 producing Indian Basins, adding over 7.15 billion tonnes of In-place Oil & Gas volume of hydrocarbons in Indian basins. 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. ONGC has many matured fields with a current recovery factor of 25–33%.[5] Its Reserve Replacement Ratio for between 2005 and 2013, has been more than one.[5] During FY 2012–13, ONGC had to share the highest ever under-recovery of INR 89765.78 billion (an increase of INR 17889.89 million over the previous financial year) towards the under-recoveries of Oil Marketing Companies (IOC, BPCL and HPCL).[5] On 1 November 2017, the Union Cabinet approved ONGC for acquiring majority 51.11% stake in HPCL (Hindustan Petroleum Corporation Limited). On Jan 30th 2018, Oil & Natural Gas Corporation acquired the entire 51.11% stake of Hindustan Petroleum Corporation.

Awards and recognitions....

ONGC is the top Employer in the Energy sector in India, in the Randstad Awards 2013.[33]

ONGC was one of 12 winners of the 'Golden Peacock Award 2014' for its corporate social responsibility practices,[34] and one of 24 winners of the 'Golden Peacock Award 2013' in the occupational safety and health category.

In April 2013, it was ranked at 155th place in the Forbes Global 2000 for 2012.

In 2011, ONGC was ranked 39th among the world's 105 largest listed companies in 'transparency in corporate reporting' by Transparency International making it the most transparent company in India.

It was conferred with 'Maharatna' status by the Government of India in November 2010.[6] The Maharatna status to select PSUs allows more freedom in decision making.

In February 2014, FICCI conferred it with Best Company Promoting Sports Award.

ONGC wins the "Greentech Excellence Award" for the year 2013 in Platinum Category

ONGC was ranked 82nd among India's most trusted brands according to the Brand Trust Report 2012, a study conducted by Trust Research Advisory. 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.

ONGC is the title sponsor for the first edition of the Corporate social responsibility (CSR) Award organised by Amar Ujala

Controversies[edit]

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.However, due to widespread corruption in the company as well as the Indian government, such reports, even when made by authorized government agencies are usually hushed up. In 2012, reports surfaced highlighting the fact that ONGC had chartered an oil rig owned by RIL in May 2009 (Dhirubhai Deepwater KG-1, also known as DDKG-1)without taking bids from any other companies.

ONGC was owed Rs. 92,000 crores from Reliance Industries Limited (Petrochemicals) for the use of blocks of oil fields. This was highlighted by the Comptroller and Auditor General of India (CAG), the overseer of expenditures of the Indian Government. However, as of 2018, this outstanding amount was still not paid by Reliance Industries Limited to ONGC.

On 21 April 2021, three employees (Mohini Mohan Gogoi, Alakesh Saikia, Retul Saikia) of the ONGC were allegedly abducted from Lakuwa field of Assam’s Sivasagar district. Authorities suspect that the banned United Liberation Front of Asom (Independent) is behind the abduction.