Oil & Natural Gas Corpn Ltd Share Price – NSE /  BSE

Crude Oil & Natural Gas, Mid Cap

The senior management of   Oil & Natural Gas Corpn (ONGC), including Director (Technology & Field Services) Vikram Saxena from Delhi, along with Crisis Management Team (CMT) experts, have assumed operational control of Well Mori-5, located at Irusumanda Village, Malkipuram Mandal, following the incident at the site.

Excavation work has been completed for the creation of a temporary canal from a nearby irrigation source to facilitate deployment of high-capacity firewater pumps. Fire pumps have reached the wellsite, and placement activities are in progress. A comprehensive blowout control plan has been finalised

A gradual reduction in the flame intensity and size is being witnessed. The team has also been able to change the flame to a vertical direction.

Air quality, noise levels, and nearby water bodies are being continuously monitored to minimise environmental impact within a 600-metre radius.

ONGC remains in continuous coordination with all stakeholders, including district and police administrations, local authorities, and the media, to ensure transparency and an effective response. All operations are being carried out with the highest standards of safety and environmental care.

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Oil & Natural Gas Corpn (ONGC) signed Joint Venture Agreements and Capital Contribution Agreements with M/s Mitsui O.S.K. Lines (MOL), Japan, on 5 January 2026, to subscribe equity shares in two joint venture entities, namely Bharat Ethane One IFSC and Bharat Ethane Two IFSC, registered in Gift City, Gandhinagar.

The Maharatna shall subscribe to 2,00,000 equity shares, of Rs 100 per share, in each of the joint venture companies. Upon completion of the equity subscription, ONGC shall hold a 50% equity stake in each of the joint venture entities, with the remaining 50% held by M/s Mitsui O.S.K. Lines, Japan.

Each joint venture company shall own and operate one Very Large Ethane Carrier (VLEC). The VLECs shall operate under the Indian flag and shall be deployed for the transportation of ethane from the United States of America to meet the feedstock requirements of ONGC Petro additions (OPaL), a subsidiary of ONGC.

This strategic collaboration constitutes a significant milestone in strengthening long-term cooperation between ONGC and MOL. By leveraging MOL's global maritime expertise alongside ONGC's strong regional presence and operational capabilities, the partnership is expected to create substantial value across the energy transportation and value chain.

The initiative also marks ONGC's strategic entry into business diversification and growth. Through the deployment of VLECs for ethane transportation, ONGC aims to capitalise on emerging opportunities in energy logistics, strengthen integration across its value chain, and establish a robust operational presence in specialised shipping.

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Oil & Natural Gas Corpn Ltd dropped for a fifth straight session today. The stock is quoting at Rs 232.39, down 1.26% on the day as on 13:19 IST on the NSE. The benchmark NIFTY is down around 0.55% on the day, quoting at 25883.8. The Sensex is at 84762.05, down 0.53%.Oil & Natural Gas Corpn Ltd has lost around 6.31% in last one month.Meanwhile, Nifty Energy index of which Oil & Natural Gas Corpn Ltd is a constituent, has eased around 4.72% in last one month and is currently quoting at 35028.15, down 0.88% on the day. The volume in the stock stood at 26.05 lakh shares today, compared to the daily average of 77.31 lakh shares in last one month.

The benchmark December futures contract for the stock is quoting at Rs 233.03, down 1.17% on the day. Oil & Natural Gas Corpn Ltd tumbled 6.07% in last one year as compared to a 6.36% rally in NIFTY and a 4.55% fall in the Nifty Energy index.

The PE of the stock is 9.09 based on TTM earnings ending September 25.

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Oil & Natural Gas Corporation (ONGC) and Petronet LNG (PLL) have entered into a 15-Years Ethane Unloading, Storage and Handling (USH) Services Binding Term Sheet (commencing between October ? December 2028 and ending on the fifteenth (15th) anniversary of the commencement date).

PLL is developing ethane unloading, storage and handling (USH) facilities with ethane storage tank capacity of approx. 1,70,000 Cubic Meters at Dahej, Gujarat. PLL is also constructing a unique third jetty at Dahej which will be capable of handling Ethane and Propane in addition to LNG.

As per the term sheet, ONGC shall reserve capacity of approximately 600 KTPA at PLL's Ethane storage and handling facilities at Dahej, Gujarat. PLL shall receive, store and handle Ethane sourced and imported by ONGC/its subsidiary or affiliate(s) at Dahej, Gujarat and re deliver Ethane to ONGC at the Delivery Point. The term sheet shall form basis for definitive agreements between the parties.

As per the commitments under the binding term sheet, PLL is expected to earn a gross revenue of about Rs 5,000 crore over the total contract duration of 15 years. The transaction under the said term sheet shall commence from FY 2028-2029. It represents a significant milestone in PLL's strategic vision to develop and offer ethane import infrastructure to third parties, thereby expanding its business portfolio beyond LNG and strengthening its position in India's petrochemical and energy value chain. PLL's under-construction unique third jetty will facilitate unloading, storage and handling ethane, propane and LNG at Dahej and will be f irst-of-its-kind in India which shall be made available for third-party imports. This step of PLL underscores its commitment for enabling growth of downstream industries such as Petrochemical sector through world-class import infrastructure for ethane and propane in addition to its existing LNG regasification infrastructure.

As part of its long-term strategy to ensure a reliable and consistent supply of ethane to ONGC Petro Additions Limited (OPaL), ONGC plans to procure and import ethane?via Very Large Ethane Carriers (VLECs) of approximately 100,000 CBM capacity?on long-term, short-term and spot basis. This agreement provides ONGC with assured capacity booking for the import of ethane to meet the feedstock requirements of OPaL. ONGC's subsidiary, ONGC Petro Additions Limited (OPaL), operates one of India's largest petrochemical complexes located at Dahej, Gujarat, which includes a world-scale ethylene cracker unit using ethane as the primary feedstock.

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