Daily Current Affairs Quiz 2019<\/a><\/strong><\/p>\n\n\n\nAddressing ONGC employees on the 73rd Independence Day, he\nsaid: “15 of these projects currently under execution will directly\ncontribute to oil and gas production.”<\/p>\n\n\n\n
“The cumulative oil and gas gain from these projects is\nexpected to be over 180 million tonne of oil and oil equivalent gas in their\nlife cycle,” he said.<\/p>\n\n\n\n
The firm produced 24.23 million tonne of crude oil in the\n2018-19 fiscal year and 25.81 billion cubic metres of natural gas from its\ndomestic fields. Another 10.1 million tonne of oil and 4.736 bcm of gas was\nproduced from its overseas assets.<\/p>\n\n\n\n
ONGC envisages a natural gas output of over 32 bcm by FY24,\nShanker said in his which was webcast from company headquarters in Dehradun to\n30,000-plus employees across 38 work locations of ONGC, according to a company\nstatement.<\/p>\n\n\n\n
The directors of ONGC were also present on the occasion.\nPitching for an transformative approach to the energy business, he talked about\nthe ambitious ‘Energy Strategy 2040’ that will help ONGC achieve “three\ntimes revenue distributed across exploration and production, refining,\nmarketing, and other businesses; four times current profit-after-tax (PAT),\nwith 10 per cent contribution from non-oil and gas business; and 5-6 times\ncurrent market capitalisation.”<\/p>\n\n\n\n
Speaking on ONGC’s business performance, he said that the\ncompany earned the highest ever revenue of Rs 1,09,655 crore in 2018-19, an\nincrease of 29 per cent over the previous fiscal. It has also logged a record\nnet profit of Rs 26,716 crore, an increase of 34 per cent.<\/p>\n\n\n\n
ONGC Videsh Ltd, the firm’s overseas investment arm,\nrecorded the highest ever production of 14.83 million tonne of oil and oil\nequivalent gas during FY19. In downstream refining, its subsidiary MRPL\nachieved highest ever throughput of 16.43 million tonne with capacity\nutilisation of 109.5 per cent.<\/p>\n\n\n\n
Newly acquired HPCL (ONGC subsidiary) has also achieved the\nhighest ever sales volume of 38.7 million tonne with a domestic sales growth of\n4.7 per cent over historical high, he said.<\/p>\n\n\n\n
“The Petroleum & Natural Gas Ministry has announced\nseveral enabling policies which, I am sure shall bring in positive changes in\nIndia’s oil and gas sector,” he said.<\/p>\n\n\n\n
Supporting Prime Minister Narendra Modi’s call for a\ndomestic solar revolution, ONGC had launched a nation-wide Solar Chulha Challenge.\nShanker said that through this initiative and with the help of IIT-Mumbai, 86\nSolar PV cooking stoves were installed at Bacha and Jamthi in Betul district of\nMadhya Pradesh. The entire village of 74 households has been benefitted at\nBacha village.<\/p>\n\n\n\n
The 73rd Independence Day was celebrated at all the 38\ndomestic work centres of ONGC as well as its 40 overseas projects in 21\ncountries. Apart from hoisting the national tricolour, the offices of the\nnational oil company held cultural programmes to mark the occasion, the\nstatement added.<\/p>\n","protected":false},"excerpt":{"rendered":"
Oil and Natural Gas Corp (ONGC) is investing around Rs 83,000 crore in 25 major projects to boost oil and gas production, which has stagnated over last years, its chairman and managing director Shashi Shanker said. Daily Current Affairs Quiz 2019 Addressing ONGC employees on the 73rd Independence Day, he said: “15 of these projects […]<\/p>\n","protected":false},"author":13,"featured_media":4894,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"default","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","ast-disable-related-posts":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"footnotes":""},"categories":[45],"tags":[485],"class_list":["post-4893","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-current-affairs-articles","tag-oil-and-natural-gas-corp"],"_links":{"self":[{"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/posts\/4893","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/users\/13"}],"replies":[{"embeddable":true,"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/comments?post=4893"}],"version-history":[{"count":1,"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/posts\/4893\/revisions"}],"predecessor-version":[{"id":4895,"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/posts\/4893\/revisions\/4895"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/media\/4894"}],"wp:attachment":[{"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/media?parent=4893"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/categories?post=4893"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/tags?post=4893"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}