ONGC pivots to natural gas as production tops crude
Business
ONGC is switching gears, putting natural gas front and center as production now tops crude oil.
Chairman and CEO Arun Kumar Singh calls this move a step toward being a "gas and oil" firm rather than an "oil and gas" company.
With crude output staying steady, ONGC is betting on rising demand for cleaner fuel to drive its next phase of growth.
ONGC invests ₹33,000cr offshore with BP
To ramp up gas production by 7% to 8% each year, ONGC is investing ₹33,000 crore in offshore projects, with help from BP.
New rules linking gas prices to oil benchmarks are boosting profits and making the shift easier.
Plus, ONGC's green arm aims for nearly 3 GW of renewable energy capacity by next year, showing they're serious about supporting India's clean energy future.