ONGC ranks 197 in Fortune Global 500 list

ONGC sets a new record in drilling efficiency by drilling 503 wells and made 12 discoveries, monetising many of these to quickly augment output

GN Bureau | August 6, 2018


#ONGC   #PSU  

Oil and Natural Gas Corporation Ltd (ONGC) has been ranked 197 in the coveted Fortune Global 500 list. The ranking has come on the heels of robust fiscal and physical performance in 2018-19 FY, in-spite of volatile global oil prices and operational challenges faced by the enterprise.

ONGC has been ranked fifth globally in the mining and crude oil production industry category.

The corporation posted a net profit of Rs 19,945 crore and gross revenue of Rs 85,004 crore. The company improved its gas production by 6.3 percent from ONGC operated fields and kept oil production nearly constant despite ageing fields. It also set a new record in drilling efficiency by drilling 503 wells and made 12 discoveries, monetising many of these to quickly augment output. ONGC has plans to invest around Rs 30,000 crore during the current financial year to ramp up its production further.

Comments

 

Other News

Manmohan Singh favours ‘time-tested measures’ for economy

The much hyped ‘double engine’ model of governance on which the BJP is seeking votes has utterly failed, and Mumbai and Maharashtra have had to face some of the worst effects of economic slowdown, former prime minister Manmohan Singh has said. A lot of problems facing Maharashtra

“If the oppn is weak you can’t blame the govt for that”

A three-term Rajya Sabha member, Sanjay Raut is the Shiv Sena spokesperson and its voice in parliament. He is also the executive editor of Marathi newspaper Samana, started by Shiv Sena founder Bal Thackeray. Raut spoke with Geetanjali Minhas on his party’s seat-sharing agreement

Ashish Shelar of BJP says, “We are very confident of victory”

Ashish Shelar, 47, was the president of the Mumbai city unit of the BJP, before he became the minister of school education, sports and youth welfare in the Maharashta government this year. He has represented the Vandre West constituency in the state assembly and seeking re-election. In a chat with

Nobel for economics goes to `global fight against poverty`

The Nobel Prize in economics for 2019 goes to Abhijit Banerjee, Esther Duflo and Michael Kremer "for their experimental approach to alleviating global poverty." The prize, known as “The Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel”, was announc

Modi-Xi script a new chapter in bilateral relations

Prime minister Narendra Modi has accepted president Xi Jinping’s invitation to visit China in 2020 for their third informal summit after Wuhan and Mamallapuram, indicating both sides’ realization of the importance of the mechanism which gives the two leaders of the Asian giants an opportunity t

Dharma as the original Idea of India

Dharma: Hinduism and Religions in India By Chaturvedi Badrinath Edited by Tulsi Badrinath Penguin, 194+ xiii pages, Rs 499 How to live: That is the most fundamental question of human existence.



Current Issue

Current Issue

Video

CM Nitish’s convoy attacked in Buxar

Opinion

Facebook    Twitter    Google Plus    Linkedin    Subscribe Newsletter

Twitter