Oil & Natural Gas Corporation Ltd.

Oil and Natural Gas Corporation (ONGC) and other oil PSUs are planning to invest over Rs 98,521 crore in the coming fiscal starting April 1 in exploring for oil and gas, refineries, petrochemicals and laying pipelines to meet needs of the world's fastest-growing energy consuming nation. The investment proposed in 2020-21 is almost 4 per cent higher than Rs 94,974 crore spending by the state-owned oil firms in the current fiscal year that ends on March 31.

The company leads the pack with a 19 per cent rise in its capital spending at Rs 32,501 crore. The company is investing in finding new reserves of oil and gas and bringing to production discoveries it has already made. It is developing discoveries on both east and west coast of the country.

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.