Joint Venture28 Jan 2026, 02:52 pm
ONGC, Reliance Sign Resource-Sharing Pact to Boost India's Offshore Energy
AI Summary
Oil and Natural Gas Corporation Ltd (ONGC) and Reliance have signed a resource-sharing pact, aligned with the Oilfields (Regulation and Development) Amendment Act, 2025 (ORDA Act 2025). This agreement aims to facilitate collaboration for the development of India’s Hydrocarbon sector. The share prices of Indian E&P peer companies, including Oil India Limited and Hind Oil Exploration, have also increased. The rise in ONGC's share price is attributed to the increase in the world crude oil prices, which have risen from ~ USD 60 to ~USD 67 in the last 3 weeks.
Key Highlights
- ONGC and Reliance sign a resource-sharing pact
- Agreement aligned with the ORDA Act 2025
- Aimed at facilitating collaboration for India’s Hydrocarbon sector development
- Share prices of Indian E&P peer companies also increased
- Rise in ONGC's share price attributed to increased world crude oil prices