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ONGC registers 1.25% rise in output in FY19

15 Apr 2019 Evaluate

Oil and Natural Gas Corporation (ONGC) has arrested a declining crude oil production trend in its onshore fields and registered a 1.25% rise in output in the fiscal year ended March 2019. ONGC produced 6.141 million tonnes of crude oil from its onshore fields despite majority of them being more than 50 years old and facing a natural decline.

ONGC is India’s largest government-run corporation and produces about 70% of India’s crude oil and natural gas. The corporation is the biggest public sector commercial organization in India.

Peers
Company Name CMP
ONGC 221.30
Oil India 449.25
Jindal Drilling&Inds 596.70
Deep Industries 795.45
Asian Energy Service 468.65
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