Claim 50% Off TipRanks Premium
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Stay ahead of the market with the latest news and analysis and maximize your portfolio's potential
An announcement from Oil & Natural Gas Corp. Ltd. ( (IN:ONGC) ) is now available.
ONGC, through its joint ventures with Japan’s Mitsui O.S.K. Lines, has signed shipbuilding contracts with Samsung Heavy Industries in South Korea to construct two Indian-flag Very Large Ethane Carriers, each with a cargo capacity of 100,000 cubic meters. The JV entities, Bharat Ethane One IFSC Pvt. Ltd. and Bharat Ethane Two IFSC Pvt. Ltd., based in GIFT City, will own and operate the vessels to transport around 600 KTPA of ethane from the US to India for ONGC subsidiary OPaL under long-term charter agreements, with delivery slated for FY 2028–29. The move strengthens India’s energy ecosystem by securing specialized marine logistics for critical feedstock, enhancing supply-chain resilience, and building capabilities in a high-value segment of global shipping, in line with national goals of self-reliance and the government’s maritime and energy security vision.
More about Oil & Natural Gas Corp. Ltd.
Oil and Natural Gas Corporation Limited (ONGC) is India’s premier oil and gas exploration and production company, central to the country’s energy security through the development of domestic hydrocarbon resources and strategic initiatives across the energy value chain, including upstream production and associated downstream and logistics projects.
Average Trading Volume: 461,507
Technical Sentiment Signal: Strong Buy
Current Market Cap: 3089.1B INR
Find detailed analytics on ONGC stock on TipRanks’ Stock Analysis page.