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Oil & Natural Gas Corp. Ltd. ( (IN:ONGC) ) has shared an announcement.
The Government of India has directed Oil & Natural Gas Corporation Limited (ONGC) to take control of the CB-OS/2 offshore block, previously managed by a consortium including Vedanta Limited and TATA Petrodyne Ltd, after the extension of the Production Sharing Contract was not accepted. This interim measure aims to ensure the continuity of petroleum operations and safeguard reserves until a new party is awarded the block, highlighting ONGC’s strategic role in maintaining energy stability.
More about Oil & Natural Gas Corp. Ltd.
Oil & Natural Gas Corporation Limited (ONGC) is a leading company in the oil and natural gas industry, primarily involved in the exploration and production of oil and gas. The company plays a significant role in India’s energy sector, focusing on offshore and onshore operations to meet the country’s energy demands.
Average Trading Volume: 604,434
Technical Sentiment Signal: Hold
Current Market Cap: 2977.1B INR
Find detailed analytics on ONGC stock on TipRanks’ Stock Analysis page.