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Petroleum ministry tells ONGC to sell stake in producing oil fields

27 Apr 2021 Evaluate

The petroleum ministry has told India’s largest oil and gas producer Oil and Natural Gas Corporation (ONGC) to sell stake in producing oil fields such as to Ratna R-Series to private firms, get foreign partners in KG basin gas fields, monetise existing infrastructure, and hive off drilling and other services into a separate firm to raise production.

The ministry also wants the company to explore creating separate entities for drilling, well services, logging, workover services and data processing entities.

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.

ONGC Share Price

283.35 -0.60 (-0.21%)
20-Apr-2026 16:59 View Price Chart
Peers
Company Name CMP
ONGC 283.35
Oil India 471.35
Jindal Drilling&Inds 542.35
Deep Industries 477.70
Asian Energy Service 315.25
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