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Pest Analysis of Ongc

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Oil and Natural Gas Corporation Limited
Introduction
A modest entity in the serene Himalayan settings - Oil and Natural Gas Corporation Limited (ONGC) was set up as a Commission on August 14, 1956. The company became a corporate on June 23, 1993, which has now grown into a full-fledged horizontally integrated petroleum company. Today, ONGC is a flagship public sector enterprise and India’s highest profit making corporate, achieving the record of being the first Indian corporate to register a five digit profit figure of Rs. 10,529 Crore in the year 2002-03. The Indian government holds 74.14% equity stake in this company.
ONGC has produced more than 600 million metric tonnes of crude oil and supplied more than 200 billion cubic metres of gas since its inception, thus fuelling the increasing energy requirements of the Indian economy. Today, ONGC is the most valuable company in India, contributing 77 percent of India’s crude oil production and 81 per cent of India’s natural gas production. ONGC is one of Asia's largest and most active companies involved in exploration and production of oil. It is involved in exploring for and exploiting hydrocarbons in 26 sedimentary basins of India. It produces about 30% of India's crude oil requirement. It owns and operates more than 11,000 kilometres of pipelines in India. ONGC has made six new discoveries, at Vasai West (oil and gas) in Western Offshore, GS-49 (gas) and GS-KW (oil and gas) in Krishna-Godavari Offshore, Chinnewala Tibba (gas) in Rajasthan, and Laipling-gaon (oil and gas) and Banamali (oil), both in Assam.

ONGC has a fully owned subsidiary, ONGC Videsh Ltd (OVL) that looks for exploration opportunities in other parts of the world. OVL is pursuing exploration of oil and gas in Russia, Iran, Iraq, Libya Myanmar and other countries. ONGC has also acquired 72% stake in MRPL with full

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