Oil & Natural Gas Corpn (ONGC) and Reliance Industries (Reliance) signed a path-breaking agreement on 27 January 2026 to enable resource sharing for deepwater offshore E&P operations on India`s East Coast, particularly across the Krishna Godavari (KG) basin and Andaman offshore, marking a major step towards cost optimization, faster execution, and improved asset utilization in complex deepwater projects. This agreement is aligned with a forward-looking initiative facilitated by the Oilfields (Regulation and Development) Amendment Act, 2025 (ORDA Act 2025), introduced by the Ministry of Petroleum and Natural Gas (MoPNG), which creates a clear enabling framework for E&P operators to share infrastructure and facilities, both onland and offshore, for more efficient development of oilfields and production of hydrocarbons.Under MoPNG`s enabling initiative, ONGC and Reliance will pursue sharing of key resources required for offshore operations, which may include (but is not limited to): onshore and offshore processing facilities, drilling rigs, marine vessels (MSV, Tugs, PSV), Power, Pipelines, logging and well services etc.Powered by Capital Market - Live News

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. Powered by Capital Market - Live News

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. Powered by Capital Market - Live News

Oil & Natural Gas Corpn announced that S&P Global Ratings today withdrew its `BBB` long-term issue rating on the US$600 million senior unsecured notes due 2026 that ONGC Videsh Vankorneft issued at the issuer`s request. ONGC Videsh Vankorneft, is a wholly owned step-down subsidiary of Oil & Natural Gas Corpn (ONGC; BBB/Stable/--).The company`s `BBB` issuer credit ratings and `BBB` long-term issue credit rating on the US$300 million senior unsecured notes due 2029 the company issued, remain unchanged.Powered by Capital Market - Live News

ONGC announced that the Board of Directors of the Company at its meeting held on 10 November 2025, inter alia, have recommended the First Interim dividend of Rs 6 per equity Share (i.e. 120%) , subject to the approval of the shareholders.Powered by Capital Market - Live News