Oil & Natural Gas Corporation Ltd.

Oil and Natural Gas Corporation (ONGC) has reportedly entered into Memorandum of understanding (MoU) with Chevron New Ventures PTE, subsidiary of Chevron Corporation. The agreement is to assess exploration potential in India.

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.