ONGC unveils $15-16 billion investment plan

30 Aug 2019 Evaluate

Oil and Natural Gas Corporation (ONGC) has unveiled a $15-16 billion investment plan to double output from its domestic and overseas fields and expand its refining capacity three folds alongside diversification into renewables in a new vision document for 2040.

The new strategy document aims to transforms ONGC in a new ‘avatar’ in this new energy landscape as a diversified energy company with strong contribution from non-E&P businesses.

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.

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