ONGC Full Form or Full Form ONGC
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Full-Form Of ONGC Is an Oil and Natural Gas Corporation
Some Details About ONGC
Oil and Natural Gas Corporation (ONGC) is an Indian Multinational Crude Oil and Gas Corporation. Its enrolled office is at New Delhi, India. It is a state-claimed venture of the Government of India, under the regulatory control of the Ministry of Petroleum and Natural Gas. It is the biggest oil and gas investigation and creation organization in the nation. It produces around 70% of India’s unrefined petroleum (proportionate to around 57% of the nation’s complete interest) and around 84% of its common gas. In November 2010 Government of India gave ONGC the Maharatna status.
In a review by Government of India for financial year 2019–20, it was positioned as the biggest benefit making PSU in India. It is positioned seventh among the Top 250 Global Energy Companies by Platts.
ONGC was established on 14 August 1956 by Government of India. It is engaged with investigating for and abusing hydrocarbons in 26 sedimentary bowls of India, and possesses and works more than 11,000 kilometers of pipelines in the nation. Its global auxiliary ONGC Videsh at present has ventures in 17 nations. ONGC has found 6 of the 7 monetarily delivering Indian Basins, over the most recent 50 years, including over 7.15 billion tons of set up Oil and Gas volume of hydrocarbons in Indian bowls. Against a worldwide decrease of creation from developed fields, ONGC has kept up creation from its brownfields like Mumbai High, with the assistance of forceful interests in different IOR (Improved Oil Recovery) and EOR (Enhanced Oil Recovery) plans.
ONGC has many developed fields with a current recuperation factor of 25–33%. Its Reserve Replacement Ratio for somewhere in the range of 2005 and 2013, has been more than one. During FY 2012–13, ONGC needed to share the most elevated ever under-recuperation of INR 89765.78 billion (an expansion of INR 17889.89 million over the past monetary year) towards the under-recuperations of Oil Marketing Companies (IOC, BPCL and HPCL).On 1 November 2017, the Union Cabinet affirmed ONGC for getting greater part 51.11% stake in HPCL (Hindustan Petroleum Corporation Limited). On Jan 30th 2018, Oil and Natural Gas Corporation procured the whole 51.11% stake of Hindustan Petroleum Corporation.
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