What is the Full Form of ONGC?

The full form of ONGC is Oil and Natural Gas Corporation. ONGC is a PSU which comes under the ambit of the Ministry of Petroleum and Natural Gas, Government of India. Headquartered in Dehradun, ONGC is a multinational organisation which was founded on 14 August 1956. In February 1994, ONGC was reorganised as a limited enterprise as per the Company Act of 1956. ONGC contributes around 84% of India’s natural gas and 70% of its crude oil which makes it the largest government-owned oil and gas producer and explorer in the country. 

Also Read: ONGC Recruitment Through GATE

ONGC History 

• Following independence, the Indian government after realising the value of gas and oil for the growth of Indian businesses made the decision to develop the hydrocarbon industry.
• The Ministry of Natural Resources and Scientific Research created the Department for Oil and Natural Gas in 1955 to increase the nation’s production of natural gas and oil.
• The oil and gas industry was listed among Schedule ‘A’ industries when the Industrial Policy Resolution was adopted by the Indian Parliament in 1956. The Directorate of Oil and Natural Gas has been promoted to the board of Oil and natural gas.
• ONGC and Indian Oil Corporation (IOC) decided to purchase joint shares in 1999 in order to grow its home and foreign sectors.
• In the years 2002 and 2003, ONGC established ONGC Videsh Ltd. (OVL) as a subsidiary to enter the international market.

Key Goals of ONGC 

• To drill in the prospect of oil and analyse reserves of oil by geological and geophysical means.
• To conduct hydrocarbon exploration, development, and production optimisation to maximise the nation’s economic contribution.
• To plan, promote, coordinate, and implement programmes for the exploitation of petroleum resources, the production and distribution of petroleum and petroleum products, and other connected issues.

Also Read: ONGC Recruitment

ONGC Products 

Following is the list of various products offered by the Oil and Natural Gas Corporation:

• Aromatic Rich Naptha 
• HSD (High-Speed Diesel)
• Motor Spirit 
• Crude Oil
• Natural Gas
• Ethane
• LPG (Liquefied Petroleum Gas) 
• Superior Kerosene Oil 

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