Existence of ONGC Across the World
- ONGC Videsh Limited (OVL) is a subsidiary of ONGC. It is the company’s international arm that operates in various countries.
- OVL has investments in 41 projects in 20 countries including Russia, Vietnam, Sudan, Iran, Iraq, Libya, Mozambique, Myanmar, and several other countries.
- OVL’s operations are primarily focused on the exploration and production of oil and gas.
- ONGC Videsh is the second largest petroleum company in India, next only to its parent ONGC In terms of reserves and production.
ONGC Full Form
ONGC Stands for Oil and Natural Gas Corporation. The Oil and Natural Gas Corporation is an Indian central public sector undertaking(PSU) under the ownership of the Ministry of Petroleum and Natural Gas, Government of India. Its headquarter is in Dehradun. It was founded on 14th August 1956 by the Government of India.
The Oil and Natural gas corporation, ONGC, is a unique and torchbearer company in its field. As it has in-house service capabilities for crude oil exploration and natural gas production. It is the largest government-owned oil and gas explorer and producer in the country. It produces around 70% of India’s crude oil.
This company is a public sector enterprise. And the public has a stake in this enterprise as well. The shares of this company are also reliable and have performed well in the stock market. The investors are impressed by the big sum of dividends it gives to its shareholders per year.
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