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INTRODUCTION
ONGC Group of Companies comprises of Oil and Natural Gas Corporation Limited (ONGC - The Parent Company); ONGC Videsh Limited (OVL – a wholly owned subsidiary of ONGC); ONGC Nile Ganga BV (ONG BV - a wholly owned subsidiary of OVL) and Mangalore Refinery and Petrochemicals Limited (MRPL - a subsidiary of ONGC).
Oil and Natural Gas Corporation Limited (ONGC) is India's Most Valuable Company, having a market share of above 80% in India's Crude Oil and Natural Gas Exploration and Production. ONGC registered the highest profit among all Indian companies at US $ 1.92 billion (Rs. 8664.4 Crore) in the year 2003-04. Its production of Crude Oil in 2003-04 was 26.7 MMT and of Natural Gas 25.70 Billion Cubic Meters. ONGC also produce Value-Added Products (VAP) like C2-C3; LPG; Naphtha and SKO.
ONGC Videsh Limited (OVL) is overseas arm of ONGC, engaged in Exploration & Production Activities. It trans-nationally operates E&P Business in 10 countries, making ONGC the biggest Indian Multinational Corporation. In recent years, it has laid footholds in hydrocarbon acreage in various countries including Ivory Cost and Australia. ONGC Nile Ganga BV is a wholly owned subsidiary of OVL and has equity in producing field in Sudan.
Mangalore Refinery and Petrochemicals Limited (MRPL), where ONGC now owns 71.6% equity, were taken over by ONGC in March 2003. Under ONGC's management control, MRPL has seen a major turnaround and its market valuation has increased 1100%. MRPL has one of the modern refineries in India at Mangalore having annual capacity of 9.69 MMTPA. It is the most energy-efficient refinery in India and has a two-digit energy index of 85%.
ONGC envisages organizing Import/Internationa ...