Which is the largest oil company in India?
VerifiedAnswer: Maharatna ONGC
Explanation:
Oil and Natural Gas Corporation Limited (ONGC) stands as India's largest oil company by several key parameters including production capacity, revenue, and overall operations. Established in 1956, ONGC has grown to become the backbone of India's energy sector and holds the prestigious Maharatna status - the highest category of public sector enterprises in India.
The Maharatna status was granted to ONGC in 2010, recognizing its exceptional performance and strategic importance to the nation. This classification allows the company greater operational and financial autonomy, enabling it to make investments up to ₹5,000 crores without government approval. Currently, there are only 12 companies in India that hold this coveted Maharatna status.
ONGC's dominance in the Indian oil sector can be understood through these key aspects:
• Production Leadership: ONGC contributes approximately 70% of India's domestic crude oil production and about 84% of its natural gas production
• Revenue Generation: The company generates annual revenues exceeding ₹1 lakh crores, making it one of India's highest revenue-generating PSUs
• Asset Portfolio: ONGC operates across 26 sedimentary basins in India and has a presence in 17 countries worldwide
• Employment: It provides direct employment to over 32,000 people and indirect employment to lakhs more
The company's operations span the entire hydrocarbon value chain - from exploration and production to refining and marketing. ONGC owns major oil and gas fields including the Mumbai High offshore field, Assam oil fields, and Gujarat's Ankleshwar field. These assets collectively make it the largest contributor to India's domestic energy production.
ONGC also owns several subsidiary companies including ONGC Videsh Limited (OVL) for international operations, Mangalore Refinery and Petrochemicals Limited (MRPL), and ONGC Petro-additions Limited (OPaL). This diversified portfolio further strengthens its position as India's oil and gas giant.
While other major oil companies like Indian Oil Corporation (IOCL) and Bharat Petroleum Corporation Limited (BPCL) are significant players in refining and marketing, ONGC's dominance in upstream operations - exploration and production - combined with its substantial downstream presence makes it the largest and most comprehensive oil company in India.
