Topic
ongc
Commodities ONGC Board Approves 1.75 Million Tonne Strategic Oil Reserve at Mangaluru
State-run Oil and Natural Gas Corporation (ONGC) announced its board has granted in-principle approval for a 1.75 million tonne strategic petroleum reserve at Mangaluru, Karnataka. The facility, developed as Phase-I expansion of the existing reserve, aims to bolster India's energy security amid geopolitical uncertainty. India, the world's third-largest crude importer, relies on imports for over 88% of its crude requirements.
Commodities BP Secures Expanded Technical Services Contract for ONGC’s Western Offshore Fields
Super-major BP has been awarded a technical services contract by India's ONGC for 43 blocks in the Western Offshore Basin. The agreement follows a similar contract for Mumbai High signed in February 2025 and aims to enhance hydrocarbon recovery and operational efficiency across mature assets.
Trade Why ONGC Is Eyeing Two Oilfields in Venezuela; Seeks US Approval for PDVSA Acquisition
ONGC is in discussions with Venezuela's PDVSA to acquire stakes in two oilfields, subject to US sanctions approval. The Indian state-owned company seeks operational control to boost production and recover $500 million in dividends.
Commodities ONGC Partners with BPXS to Boost Offshore Production
ONGC has engaged BP Exploration Services India (BPXS) to enhance production from its western offshore fields, excluding Mumbai High. The collaboration aims for a 24.1% increase in oil and gas output over a decade.