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Ongc

In: Business and Management

Submitted By meghavi
Words 11056
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EXECUTIVE SUMMARY ONGC leads the way when it comes to achieving carbon neutrality within the energy sector. In an effort to do so, it has become the first PSU to achieve emission reduction certificates from the United Nations. Achievements of this sort, coupled with growth, make ONGC the undisputed leader in its business The Company has set many milestones and the government has decided to bestow the “Maharatna” status with increased empowerments and distinctly higher status as a premier Public Sector Undertaking. The company has recorded the highest Net Profit of Rs. 189,240 million. ONGC recorded highest ever production of 62.05 million ton of oil and equivalent gas (MMTOE). For the reporting year 2010-11. This represents a growth of 12% in both turnover and net worth and 13% in net profit over FY-2010. The company continued to pursue its growth strategy despite the fact that global economy was in shambles and the oil industry had been at crossroads since later half of 2008. The growth vehicle of ONGC, “ONGC VIDESH LTD.” With 40 projects in 15 countries sourced 8.87 MTOE of oil and gas in FY 2010: the highest ever. Beyond core activities of E&P, the company’s efforts towards new gas sources are also laudable. CBM production from the pilot Parbatpur, Jharia project has started in January 2010. Environmental clearance from UCG pilot project at Vatsan, Gujarat has also been obtained. The company has also taken lead in the exploration of shale gas in the country by launching an integrated pilot shale gas project in Damodar valley . The value multiplier projects in the areas of power, petrochemicals, SEZ are at different stages of completion and all of these projects are scheduled to be commissioned during 2012/2013. For all these endeavors, the company has created for systematic and required investment plans. The company is

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