In the fiscal year 2023, the net worth of ONGC was around 2.6 trillion Indian rupees. India was the third largest consumer of oil globally in 2017. The oil and gas sector was one of the eight core industries in the south Asian country. Furthermore, it played a major role for the development of the economy. In 2018, major consumption of natural gas in the nation came through the fertilizer industry. ONGC was the largest oil and gas exploration and production company in India. With a net worth of nearly two trillion Indian rupees in financial year 2020, the state-owned enterprise produced about 70 percent of the country’s crude oil, and over 80 percent of its natural gas.
Natural gas in India
In 2019, the production of offshore natural gas by public sector units in India amounted to around 52 million metric standard cubic meters per day. The onshore production, however, remained comparatively low. With robust economic growth, foreign direct investments in the Indian oil and petroleum sector were estimated to increase exponentially.
Energy sector in India
India has had a pronounced growth in energy sector investments in recent years. Coal energy, one of the primary sources of electricity within the nation, could presumably face rising challenges from water shortages and the growth of low-cost renewables. Government policies have been adapted to suit and encourage eco-friendly energy principles. In addition, decreased on and offshore prices of renewable resources are likely to weaken the fossil fuel industry even further.
Net worth of Oil and Natural Gas Corporation Limited from financial year 2012 to 2023
(in billion Indian rupees)
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Value in billion Indian rupees
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ONGC. (August 7, 2023). Net worth of Oil and Natural Gas Corporation Limited from financial year 2012 to 2023 (in billion Indian rupees) [Graph]. In Statista. Retrieved July 27, 2024, from https://www.statista.com/statistics/760763/india-ongc-net-worth-value/
ONGC. "Net worth of Oil and Natural Gas Corporation Limited from financial year 2012 to 2023 (in billion Indian rupees)." Chart. August 7, 2023. Statista. Accessed July 27, 2024. https://www.statista.com/statistics/760763/india-ongc-net-worth-value/
ONGC. (2023). Net worth of Oil and Natural Gas Corporation Limited from financial year 2012 to 2023 (in billion Indian rupees). Statista. Statista Inc.. Accessed: July 27, 2024. https://www.statista.com/statistics/760763/india-ongc-net-worth-value/
ONGC. "Net worth of Oil and Natural Gas Corporation Limited from Financial Year 2012 to 2023 (in Billion Indian Rupees)." Statista, Statista Inc., 7 Aug 2023, https://www.statista.com/statistics/760763/india-ongc-net-worth-value/
ONGC, Net worth of Oil and Natural Gas Corporation Limited from financial year 2012 to 2023 (in billion Indian rupees) Statista, https://www.statista.com/statistics/760763/india-ongc-net-worth-value/ (last visited July 27, 2024)
Net worth of Oil and Natural Gas Corporation Limited from financial year 2012 to 2023 (in billion Indian rupees) [Graph], ONGC, August 7, 2023. [Online]. Available: https://www.statista.com/statistics/760763/india-ongc-net-worth-value/