Oil & Natural Gas Corporation Ltd.

Oil and Natural Gas Corporation (ONGC) has executed a Share Purchase Agreement to acquire 19,960 equity shares (equivalent to i.e. 0035%) of Petronet MHB (PMHBL), a subsidiary of the Company. Upon completion of transaction, the company’s equity stake would increase from 49.996% to 49.999%, in PMHBL.

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.