Sunday, March 11, 2007
• Oil and Natural Gas Corporation Limited (ONGC) (incorporated on June 23, 1993) is a public sector petroleum company in India. It is a Fortune Global 500 company, and contributes 77% of India's crude oil production and 81 % of India's natural gas production. It is the highest profit making corporation in India. It was set up as a commission on August 14, 1956. Indian government holds 74.14% equity stake in this company.
• ONGC is engaged in exploration and production activities. It is involved in exploring and exploiting hydrocarbons in 26 sedimentary basins of India. It produces about 30% of India's crude oil. It owns and operates more than 11,000 kilometers of pipelines in India. Right now it's the largest company in terms of market cap in india.
• ONGCians won 8 out of the 10 golds that India secured at the 15th Asian Games,Doha,2006.
• ONGC has featured in the 2006 list of Fortune Global 500 companies at position 402.
• ONGC – with a market capitalization of US$ 41.9 billion on 31st March 2006 - has gone up in the 10th annual Financial Times Global 500 listing of the world’s largest companies. ONGC is at the 158th position; its rank last year was 192.