Oil and Natural Gas Corporation Ltd

Oil and Natural Gas Corporation Limited (ONGC) has issued an addendum to the notice of its 33rd Annual General Meeting (AGM), scheduled for August 31, 2026. The addendum includes the appointment of Dr. Archna Thakur (DIN: 11719170) as a Non-Official Independent Director. This appointment, approved by the Board of Directors and conveyed by the Ministry of Petroleum and Natural Gas, is effective from August 13, 2026, for a period up to August 11, 2029. The company received a notice from a member proposing Dr. Thakur's candidature under Section 160 of the Companies Act, 2013. The AGM will consider this appointment as a special business item.

Oil and Natural Gas Corporation Limited (ONGC) has commissioned gas evacuation facilities at Khoraghat GGS-1 in Assam, connecting surplus associated natural gas from the Upper Assam Shelf to the North East Gas Grid (NEGG). This development, complementing the Dergaon–Dimapur Pipeline, will facilitate the utilization of nearly 1 lakh Standard Cubic Metres (SCM) of gas per day from ONGC’s Jorhat asset. ONGC is also developing further hook-up facilities to connect additional producing fields. These projects aim to augment gas availability, reduce flaring, strengthen the regional gas-based economy, and create opportunities for households, industry, transport, and power, supporting economic and infrastructure development in the North-East.

Oil and Natural Gas Corporation Ltd (ONGC) has clarified news regarding its operations in Venezuela. ONGC Videsh Limited (OVL), a subsidiary, received authorization from OFAC-USA in July 2026 to resume oil and gas operations in Venezuela, specifically for its San Cristobal and Carabobo-1 assets. Framework agreements for further actions are currently under discussion with stakeholders. The company stated that no material movement in share price was noticed and the operational or financial impact cannot be quantified at this stage, hence no prior disclosure was made.

Oil and Natural Gas Corporation Ltd (ONGC) announced the appointment of Dr. Archna Thakur as a Non-Official Independent Director to its Board. The appointment, approved by the Ministry of Petroleum and Natural Gas, is effective from August 12, 2026, for a term of three years. Dr. Thakur brings over 20 years of experience in academics, management, administration, and social services, with a Doctorate in International Politics. She is not debarred from holding office by any SEBI order or other authority.

Oil and Natural Gas Corporation Ltd (ONGC) has submitted its Business Responsibility and Sustainability Report (BRSR) for the Financial Year 2025-26, as required by SEBI regulations. The report, forming part of the Integrated Annual Report, details the company's operations, employee data, and market presence. ONGC's primary business activities include the extraction of crude petroleum and natural gas, which accounted for 90.67% of its turnover. Key products are Crude Oil (63.25% of turnover) and Natural Gas (27.42%). The company operates solely on a standalone basis and serves domestic markets, with no exports reported for FY26. The report also provides comprehensive data on its workforce, including permanent and non-permanent employees and workers, with a breakdown by gender and a specific section on differently-abled personnel. Bureau Veritas (India) Private Limited provided reasonable assurance for the report.

Oil and Natural Gas Corporation Ltd (ONGC) has announced its 33rd Annual General Meeting (AGM) scheduled for August 31, 2026, to be held via Video Conferencing. The meeting will cover the adoption of audited financial statements for FY26 and the declaration of a final dividend of ₹1 per equity share. The company has set September 4, 2026, as the record date for dividend eligibility. Remote e-voting facilities will be available to members from August 27 to August 30, 2026. The AGM agenda also includes the reappointment of Mr. Arun Kumar Singh as Chairman and Director, and the appointment of Mr. Satyan Kumar as Director (Strategy & Corporate Affairs).

Oil and Natural Gas Corporation Ltd (ONGC) announced its 33rd Annual General Meeting (AGM) will be held on August 31, 2026, through Video Conferencing (VC)/Other Audio-Visual Means (OAVM). The meeting will commence at 11:00 hours IST. The company will present the Audited Financial Statements for FY'26 and consider a final dividend of ₹1 per equity share. Key agenda items include the reappointment of Mr. Arun Kumar Singh as Director and Chairman, and the appointment of Mr. Satyan Kumar as Director (Strategy & Corporate Affairs). The integrated annual report and notice of AGM were sent to members on July 24, 2026. Remote e-voting facility is available from August 27 to August 30, 2026. The record date for dividend eligibility is September 4, 2026.

Oil and Natural Gas Corporation Ltd (ONGC) has announced that Friday, September 4, 2026, has been designated as the 'Record Date'. This date is crucial for determining which shareholders are eligible to receive the final dividend. The dividend, recommended by the Board of Directors at ₹1 per share for the fiscal year 2026, is still subject to the approval of the company's members at the upcoming Annual General Meeting (AGM). This announcement follows a previous communication on May 26, 2026, regarding the board's recommendation.

Oil and Natural Gas Corporation Ltd (ONGC) announced its Q1 FY27 standalone results, reporting a net profit surge of 112% to ₹17,034 crore. Gross Revenue for the quarter increased by 45% to ₹46,460 crore, achieving the highest ever quarterly Profit Before Tax (PBT) of ₹22,848 crore. The company is undertaking a robust capital investment program of over ₹40,000 crore in Western Offshore to boost production. New well gas now accounts for 38% of total revenue from nomination fields. However, the ONGC Group's consolidated Profit After Tax was significantly impacted by HPCL's net loss of ₹12,265 crore due to under-recoveries, despite strong performance from other subsidiaries like ONGC Videsh and MRPL. Production remained flat, with strategic projects expected to reverse declines.

Consolidated basis (primary): ONGC's group PAT for the quarter ended June 30, 2026 fell 43.3% YoY to ₹6,554 Cr (down 52.1% QoQ from ₹13,678 Cr), even as consolidated revenue grew 25.7% YoY to ₹2,04,987 Cr. The decline sits almost entirely on the refining side of the group — the Refining & Marketing segment swung to a ₹16,155 Cr quarterly loss (from a ₹5,932 Cr profit a year ago) as HPCL absorbed under-recoveries linked to the West Asia crisis. Because ONGC's own economic interest in HPCL/MRPL/OPaL is diluted, most of that hit landed on non-controlling shareholders — group NCI-attributable profit was -₹5,344 Cr this quarter versus +₹1,750 Cr a year ago — so profit attributable to ONGC's own shareholders actually rose 21.4% YoY to ₹11,899 Cr (EPS ₹9.46, the basis the statement itself uses for EPS). Consolidated NPM compressed to 3.20% (from 7.08% YoY, 7.87% QoQ) and OPM to 4.58% (from 11.57% YoY, 12.76% QoQ). On a standalone basis — the number ONGC's own exchange filing and press release headline ("Net Profit up 112% to ₹17,034 Cr") — PAT more than doubled, up 112.3% YoY, on a record PBT of ₹22,848 Cr. The move was priced through rather than volume-led: net crude realisation rose 50.4% YoY to $99.45/bbl (from $66.13/bbl), pushing standalone NPM to 36.7% (from 25.1% YoY, 18.5% QoQ) and OPM to 51.5% (from 37.1% YoY, 26.9% QoQ). Offshore segment PBIT rose to ₹19,183 Cr from ₹9,570 Cr YoY and onshore to ₹4,077 Cr from ₹1,814 Cr, but standalone crude output (4.452 MMT) and gas output (4.756 BCM) were both broadly flat sequentially and YoY — the KG-98/2 and Daman production ramp-up flagged pre-result has not yet shown up in volumes. The print blew past our own pre-result preview, which had modelled standalone revenue of ₹29,500–30,500 Cr and PAT of ₹6,200–6,800 Cr on an assumption of softer oil prices; crude instead rose sharply, and both figures landed far above the top of that range. Brokerages going in (Buy-skewed, 19 of 30 analysts, average target ₹304) had flagged crude-price tailwinds as the main upside lever for upstream names, and results "significantly exceeded typical brokerage expectations" per Business Standard — but the consolidated miss on HPCL's under-recoveries was the offsetting piece that framing did not anticipate. ONGC has no formal quarterly guidance on record for this cycle, so there is nothing explicit to grade on the outlook axis. Contingent liabilities widened modestly: the PMT JV arbitration demand rose to ₹15,365 Cr (from ₹15,225 Cr) and the disputed Service Tax/GST-on-royalty provision to ₹20,450 Cr (from ₹19,645 Cr), both still pending before the Supreme Court/arbitral tribunal. Separately, ONGC took operational control of the CB-OS/2 offshore block on July 22, 2026 after the Delhi High Court dismissed Vedanta's petition to extend its stake there (now under further appeal), and two Executive Directors are set to retire. Heading into Q2 FY27, the swing factors are whether HPCL's under-recoveries reverse as refining spreads normalise, and whether the flagged production ramp finally shows up in volumes rather than realisation alone.