Leading Manufacturing Companies – ONGC

Last month, ONGC created news when it announced that has bought the government’s entire 51.11% stake in oil refiner Hindustan Petroleum Corporation (HPCL) for Rs 36,915 crore. Through this acquisition, ONGC becomes India’s first vertically integrated ‘oil major’ company, having presence across the entire value chain. The integrated entity will have advantage of having enhanced capacity to bear higher risks and take higher investment decisions etc.
Consolidation of all the downstream units of state-run explorer ONGC under HPCL post the merger of the two companies will help streamline operations and bring efficiencies.
In another news, state-owned ONGC, after a gap of over three-decades, is set to open a new sedimentary basin in the country as it puts Kutch offshore on the oil and gas map of India. Kutch would be India’s eighth sedimentary basin. ONGC had previously opened for commercial production six out of India’s seven producing basins. Cauvery was the last Category-I producing basin which was discovered in 1985.
Early this month, ONGC organised the first oil & gas field crisis management workshop for Indian E&P industry at Delhi. The aim of the workshop was to provide a platform for quick response of field crisis and to showcase capabilities to deal with oil field crisis situations. ONGC is the only Indian E&P company having its own Crisis Management Team.