ONGC shares in focus on dividend recovery of Rs 8,000 crore 

Oil and Natural Gas Corporation (ONGC), India’s largest state-run oil and gas explorer, is gaining attention as its subsidiary ONGC Videsh may expedite the recovery of $1 billion (approximately Rs 8,000 crore) in dividends, particularly following geopolitical shifts like Donald Trump’s presidency. This financial recovery could boost the company’s fiscal health and support its ongoing ventures.

ONGC IN FOCUS

ONGC: CO UNIT RECOVERY OF 8000 CRS
IN DIVIDENDS MAY GET EXPEDITED POST TRUMP PRESIDENCY

ONGC: VIDESH'S RECOVERY OF USD 1B IN DIVIDEND MAY GET EXPEDITED POST TRUMP'S PRECIDENCY

— RedboxGlobal India (@REDBOXINDIA) December 12, 2024

As of 12:30 PM the shares of ONGC were trading 0.23% lower at Rs 256.00

Technology Partnerships with Global Energy Leaders

ONGC is also in active discussions with leading global energy companies such as Shell and Malaysia’s Petronas for advanced technology collaborations. These partnerships aim to enhance production efficiency and optimize exploration efforts in several offshore gas fields.

Upcoming Projects

The company has firmed up plans to begin drilling operations in promising new fields, including the high-potential DWN-98/2 block located in the deep waters of the Bay of Bengal. This initiative is part of ONGC’s strategy to reverse the declining trend in hydrocarbon production and strengthen its production base.

A senior company executive commented, “We expect oil production to start growing again in the next couple of years. For offshore assets, we are exploring tie-ups with companies like Petronas, and we are in early discussions with Shell for deep-water discoveries and floating LNG units. Technology collaboration will be critical for ventures like small LNG units.”

The company’s renewed focus on leveraging cutting-edge technology and global partnerships underscores its efforts to secure long-term energy production growth and meet India’s energy demands efficiently.