ONGC Full Form | Full Form of ONGC
ONGC Full Form - Oil and Natural Gas Corporation
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Oil and Natural Gas Corporation
- ONGC stands for Oil and Natural gas Corporation.
- It's an Indian multinational company which is one among the most important producers of oil and natural gas in India.
- Its headquarters is in Dehradun, Uttarakhand, India.
- ONGC is a public sector undertaking which is governed by Ministry of Petroleum and gas.
- It produces around 70% of the entire crude oil produced in India and around 60% of the entire natural gas produced in India.
Products of ONGC
Products of ONGC
- Crude Oil
- Natural Gas
- Motor Spirit
- Superior Kerosene Oil
- High-Speed Diesel (HSD)
- Liquefied Petroleum Gas ( LPG )
- Aromatic Rich Naptha
Brief History of ONGC
- In 1948, after India attained independence, the government of India realized the importance of oil and gas for the expansion of Indian industries so it planned to develop the hydrocarbon industry.
- In 1955, under the Ministry of Natural Resources and research project, an Oil and natural gas Directorate was found out to develop the oil and gas resources within the country.
- In 1956, Indian Parliament adopted the Industrial Policy Resolution and listed the oil and gas industry amongst the Schedule 'A' industries. Oil and natural gas Directorate was also upgraded to oil and natural gas Commission.
- In February 1994, ONGC was re-organized as a Ltd. Under the Company's Act, 1956 .It became a public sector undertaking and its name was changed to oil and natural gas Corporation (ONGC).
- In 1999, ONGC and Indian Oil Corporation (IOC) agreed to shop for each other's stock to expand their business at domestic and international level.
- In the year 2002-03, ONGC established ONGC Videsh Ltd. (OVL) as its subsidiary to enter the worldwide market.