ONGC - O N G C
📢 Recent Corporate Announcements
Oil & Natural Gas Corporation Limited (ONGC) has appointed Shri Vinod Seshan as a Government Nominee Director effective March 9, 2026. Shri Seshan, a 2008 batch IAS officer and current Joint Secretary at the Ministry of Petroleum and Natural Gas, will serve a three-year term. He brings over 20 years of experience in policy-making and infrastructure management, having previously served on the boards of Oil India and HPCL. This appointment is a routine regulatory requirement for a Public Sector Undertaking (PSU) to maintain government representation on the board.
- Appointment of Shri Vinod Seshan as Government Nominee Director effective from March 9, 2026
- The tenure is fixed for 3 years on a co-terminus basis or until further orders
- Shri Seshan is a 2008 batch IAS officer with 20+ years of experience in policy and infrastructure
- Previous board-level experience includes roles at major energy PSUs Oil India and HPCL
- Holds a Master's degree in Public Policy and Infrastructure Finance from University College London
ONGC has been allotted 70,30,676 equity shares each in two joint venture companies, Bharat Ethane One IFSC Private Limited and Bharat Ethane Two IFSC Private Limited. These shares, priced at ₹100 each, were issued on a rights basis to maintain ONGC's 50% stake in the entities. The JVs are a partnership with Japan's Mitsui O.S.K. Lines Ltd. (MOL) and are based in GIFT City, Gandhinagar. This move signifies continued capital commitment to its ethane transportation and logistics infrastructure.
- Allotment of 70,30,676 equity shares in Bharat Ethane One IFSC Private Limited at ₹100 per share
- Allotment of 70,30,676 equity shares in Bharat Ethane Two IFSC Private Limited at ₹100 per share
- Total investment across both JV entities amounts to approximately ₹140.61 crore
- ONGC maintains its 50% shareholding in both joint ventures alongside Mitsui O.S.K. Lines Ltd
ONGC has issued a clarification to the BSE regarding recent fluctuations in its share trading volumes. The company confirmed that it has disclosed all material information required under SEBI (LODR) Regulations, 2015. Management noted that the volume movement is likely a result of market forces and geopolitical tensions affecting oil and gas prices over the last 5-6 months. There are no pending price-sensitive announcements that would explain the trading behavior.
- ONGC confirms full compliance with SEBI Regulation 30 disclosure norms.
- Recent volume movement attributed to external market forces and global geopolitical tensions.
- Management highlights oil and gas price upheaval over the last 5-6 months as a key factor.
- No undisclosed material events or information currently pending with the company.
Oil & Natural Gas Corporation Limited (ONGC) has announced a change in its senior management team effective March 1, 2026. Sanjay Kumar Mazumder, serving as Executive Director (one level below the Board), has retired from the company upon reaching superannuation. This disclosure is a routine regulatory filing under SEBI (LODR) Regulations, 2015. Such transitions are standard in large Public Sector Undertakings and typically do not disrupt core operations.
- Sanjay Kumar Mazumder, Executive Director, retired effective March 1, 2026.
- The official held a senior management position one level below the Board of Directors.
- The change is categorized as superannuation, representing a standard retirement process.
- The announcement was made in compliance with Regulation 30 of SEBI (LODR) Regulations.
Oil & Natural Gas Corporation Limited (ONGC) has announced that Shri Arunangshu Sarkar has ceased to be the Director (Strategy & Corporate Affairs) of the company. The retirement was effective from March 1, 2026, following his attainment of the age of superannuation. This is a routine management transition within the Public Sector Undertaking (PSU) framework. Investors should note that such retirements are scheduled and typically do not impact day-to-day operations significantly.
- Shri Arunangshu Sarkar (DIN: 10777112) retired as Director (Strategy & Corporate Affairs).
- The cessation of office became effective on March 1, 2026.
- The retirement is due to reaching the age of superannuation as per service rules.
- Disclosure was made in compliance with Regulation 30 of SEBI (LODR) Regulations, 2015.
Oil & Natural Gas Corporation Limited (ONGC) has scheduled its participation in the 'Chasing Growth 2026' conference organized by Kotak Institutional Equities. The event is slated for February 23, 2026, in Mumbai, featuring both one-on-one and group meetings with institutional investors. These interactions are expected to occur between 11:00 a.m. and 05:00 p.m. The company has confirmed that no unpublished price sensitive information (UPSI) will be shared during these sessions.
- Participation in the 'Chasing Growth 2026' conference on February 23, 2026
- Meetings will include one-on-one and group formats with institutional investors
- Event scheduled in Mumbai with time slots between 11:00 a.m. and 05:00 p.m.
- Company explicitly stated no unpublished price sensitive information will be disclosed
Oil & Natural Gas Corporation Limited (ONGC) has made the audio recording of its latest analyst and institutional investor conference call available to the public. The call was conducted on February 13, 2026, following the company's recent financial disclosures. This filing is a mandatory compliance step under Regulation 30 of the SEBI (LODR) Regulations, 2015. Investors can access the recording on the company's official website to review management's commentary on performance and strategy.
- Audio recording of the investor conference call held on February 13, 2026, is now live.
- The disclosure follows the prior notification sent to stock exchanges on February 10, 2026.
- Compliance maintained under SEBI Listing Obligations and Disclosure Requirements (LODR) 2015.
- Recording is accessible via the official ONGC website under the investor relations section.
ONGC reported a robust 23% YoY increase in consolidated net profit to ₹11,946 crore for Q3 FY'26. The board declared a second interim dividend of ₹6.25 per share, taking the total cumulative dividend for FY'26 to a record ₹15,411 crore. Operational highlights include a 0.35% rise in 9M crude oil production and significant progress in the KG-98/2 and Daman offshore projects. Notably, revenue from new well gas exceeded ₹5,000 crore, now accounting for 18% of total gas sales revenue.
- Consolidated net profit grew 23% YoY to ₹11,946 crore in Q3 FY'26.
- Second interim dividend of ₹6.25 (125%) declared; record date set for Feb 18, 2026.
- New Well Gas revenue reached ₹5,028 crore in 9M FY'26, contributing 18% to total gas sales.
- Standalone crude oil production for 9M FY'26 rose 0.35% to 13.907 MMT.
- KG-98/2 Eastern Offshore project successfully installed all imported mega structures and modules.
ONGC reported a standalone revenue from operations of ₹31,546.51 crore for the quarter ended December 31, 2025, reflecting a decline from ₹33,716.80 crore in the same quarter last year. The company has declared a second interim dividend of ₹6.25 per equity share (125% of face value), with the record date set for February 18, 2026. Total income for the nine-month period ended December 2025 stood at ₹104,308 crore, down approximately 6.2% year-on-year. Investors should note significant contingent liabilities, including a ₹14,600 crore arbitration demand related to the PMT JV and over ₹8,600 crore in disputed tax and penalty claims.
- Revenue from operations for Q3 FY26 stood at ₹31,546.51 crore, a 6.4% decline year-on-year.
- Declared a second interim dividend of ₹6.25 per equity share for FY 2025-26.
- Contingent liability of ₹14,600 crore reported regarding the Panna-Mukta and Tapti JV arbitration award.
- Nine-month total income reached ₹104,307.99 crore compared to ₹111,268.81 crore in the previous year.
- Statutory levies for the quarter amounted to ₹5,975.33 crore, down from ₹6,629.64 crore in Q3 FY25.
ONGC has declared a second interim dividend of ₹6.25 per equity share (125% of face value) for the financial year 2025-26. The company has fixed February 18, 2026, as the record date to determine shareholder eligibility for this payout. On the financial front, standalone revenue for Q3 FY26 stood at ₹31,546.51 crore, reflecting a slight sequential decline from ₹33,030.56 crore in the previous quarter. Investors should also note significant contingent liabilities, including a ₹14,600 crore arbitration demand related to the Panna-Mukta and Tapti contract areas.
- Declared 2nd interim dividend of ₹6.25 per equity share of face value ₹5 each.
- Record date for dividend eligibility is set for February 18, 2026.
- Standalone revenue from operations for Q3 FY26 reported at ₹31,546.51 crore.
- Contingent liability of ₹14,600 crore disclosed regarding Panna-Mukta and Tapti JV arbitration.
- Disputed GST/Service Tax on royalty and related penalties totaling over ₹8,600 crore maintained as contingent liabilities.
Oil & Natural Gas Corporation (ONGC) has announced a conference call to discuss its Q3 FY'26 financial results on February 13, 2026. The session will be led by Director (Finance) Vivek C Tongaonkar and his team starting at 11:00 AM IST. This routine disclosure allows institutional investors and analysts to engage with management regarding recent performance. The call will cover operational updates and financial metrics for the quarter ending December 2025.
- Conference call date set for February 13, 2026, at 11:00 AM IST.
- Management team led by Director (Finance) Vivek C Tongaonkar will address participants.
- Focus of the call is the discussion of Q3 FY'26 earnings and operational outlook.
- Dial-in details provided for domestic and international investors across USA, UK, and Asia.
ONGC's adjusted ESG score for FY 2024-25 has declined to 61.1 from 63.9 in the previous year, according to an independent report by SES ESG Research. The report highlights critical governance gaps, including the lack of requisite Independent Directors and concerns over material Related Party Transactions. Environmental performance was mixed, with a rise in GHG emission intensity to 142.4x10-6 MTCO2e/USD, while social metrics were impacted by three fatalities recorded during the year.
- Adjusted ESG score dropped from 63.9 in 2024 to 61.1 in 2025.
- Three fatalities and 39 work-related injuries recorded in FY 2024-25 compared to zero fatalities in FY 2023-24.
- Board non-compliance noted regarding the number of Independent Directors, leading to stock exchange penalties.
- Renewable energy remains a negligible 0.25% of total energy consumption.
- Water consumption intensity improved, decreasing to 0.00031 KL/USD from 0.00034 KL/USD.
Oil & Natural Gas Corporation (ONGC) has fixed February 18, 2026, as the record date to determine shareholder eligibility for its second interim dividend of the financial year 2025-26. The formal declaration and the specific dividend amount will be decided in the upcoming Board meeting scheduled for February 12, 2026. This announcement follows the company's routine of providing periodic payouts to its shareholders. Investors must hold the stock prior to the ex-dividend date to be eligible for the payout.
- Record date for the 2nd Interim Dividend for FY 2025-26 is fixed as February 18, 2026.
- The Board of Directors is scheduled to meet on February 12, 2026, to consider and declare the dividend.
- The intimation is in compliance with Regulation 42 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
Oil & Natural Gas Corporation Limited (ONGC) has informed the exchanges about a change in its senior management team effective February 1, 2026. Shri Ajay Dixit, who held the position of Executive Director, has retired from the company upon reaching the age of superannuation. This position is categorized as one level below the Board of Directors. Such transitions are routine for large public sector undertakings and are generally planned well in advance.
- Shri Ajay Dixit, Executive Director, retired effective February 1, 2026.
- The change involves senior management personnel one level below the Board.
- The disclosure was made in compliance with Regulation 30 of SEBI (LODR) Regulations, 2015.
- No immediate replacement for the specific role was named in the current filing.
ONGC has officially clarified to the exchanges that it is not currently engaged in any definitive negotiations or arrangements with ExxonMobil for joint bidding of oil and gas blocks, contrary to recent media reports. The company attributed its recent 2.46% share price increase to the broader rising trend in Brent crude oil prices, which also impacted peers like Oil India (up 4.93%). This response aims to quell market speculation regarding a potential high-profile international partnership. Investors should note that the stock's movement remains primarily driven by global energy macro factors rather than specific new corporate alliances at this stage.
- ONGC confirms no definitive negotiations or arrangements are currently underway with ExxonMobil.
- Attributed recent 2.46% stock price gain to rising Brent crude oil prices rather than the news item.
- Noted sector-wide gains with Oil India Limited rising 4.93% and Hind Oil Exploration rising 1.89% on the same day.
- Clarification issued in response to a Livemint article dated January 28, 2026, regarding joint bidding for blocks.
Financial Performance
Financial analysis data not yet available for this company.
Operational Drivers
Operational analysis data not yet available for this company.
Strategic Growth
Growth Strategy
Growth is pursued through leadership in the Exploration and Production (E&P) sector and international expansion via its wholly-owned subsidiary, ONGC Videsh Limited (OVL). The company is diversifying into renewables through ONGC Green Ltd (OGL) and Ayana Renewable Power Pvt. Ltd. (ARPPL), and maintains interests in refining and petrochemicals via MRPL and OPaL to capture the full energy value chain.
Products & Services
Crude oil, natural gas, refined petroleum products, petrochemicals, power, and renewable energy.
Brand Portfolio
ONGC, ONGC Videsh (OVL), Mangalore Refinery & Petrochemicals Limited (MRPL), ONGC Petro additions Limited (OPaL), ONGC Green Ltd (OGL).
New Products/Services
Expansion into renewable energy through ONGC Green Ltd (OGL) and green energy initiatives via the ONGC Energy Centre Trust (OECT).
Market Expansion
International presence is maintained and expanded through ONGC Videsh Limited (OVL), focusing on global oil and gas exploration.
Market Share & Ranking
Leader in the Exploration and Production (E&P) sector in India.
Strategic Alliances
Joint ventures include Indraprastha Gas Ltd. (IGL) for city gas distribution and Ayana Renewable Power Pvt. Ltd. (ARPPL) for renewable energy projects.
External Factors
Industry Trends
The industry is shifting toward sustainability and decarbonization. ONGC is positioning itself by improving its ESG rating from 58 in FY2024 to 61 in FY2025 and establishing dedicated green energy subsidiaries like ONGC Green Ltd to mitigate the risk of fossil fuel disruption.
Competitive Landscape
Key competitors include other major energy players in the Oil, Gas, and Consumable Fuels sector, though ONGC remains the domestic leader in E&P.
Competitive Moat
ONGC maintains a dominant moat as the leader in India's E&P sector with nearly four decades of leadership experience under its current Chairman. Its integrated structure, spanning from exploration to refining and renewables, provides a cost and supply advantage that is difficult for competitors to replicate.
Macro Economic Sensitivity
The company is highly sensitive to the Energy macro-economic sector trends, specifically global crude oil and natural gas demand cycles.
Geopolitical Risks
Significant international presence through OVL in regions including Africa and Australia exposes the company to geopolitical instability and cross-border regulatory changes.
Regulatory & Governance
Industry Regulations
Operations are governed by the Ministry of Petroleum & Natural Gas. The company must comply with SEBI (LODR) Regulations regarding board composition and independent director representation, where it currently falls short of the required percentage.
Environmental Compliance
The company faces challenges as its GHG emissions exceed industry averages. It received an Environment Score of 51/100, with specific low grades (C) in Scope 1 and 2 emissions and environmental externality pricing.
Risk Analysis
Key Uncertainties
Environmental risks are high, with a score of 51/100, driven by high GHG emissions. Governance risks include a board composition that does not meet the required percentage of independent directors (Governance Score 63).
Geographic Concentration Risk
While headquartered in New Delhi, India, the company has significant geographic concentration in Indian offshore and onshore basins, supplemented by international assets in Africa and Australia.
Technology Obsolescence Risk
The company faces transition risks as the global economy moves away from fossil fuels, addressed by its 'Transition Score' which rewards efforts to shift toward sustainable energy.