ONGC

India’s competition regulator, the Competition Commission of India (CCI), has intensified its probe into potential cartel activity involving prominent cement manufacturers. UltraTech Cement, its subsidiary India Cements, Dalmia Bharat Cement, and Shree Digvijay Cement have been directed to furnish extensive financial documentation—including audited statements and income tax records—spanning up to nine fiscal years.

India's state-owned Oil and Natural Gas Corporation (ONGC) has reported a series of promising hydrocarbon discoveries in the Mumbai Offshore basin under the Open Acreage Licensing Policy (OALP), signaling potential future boosts to domestic energy production. The discoveries, named Suryamani and Vajramani, include high-yield wells capable of producing thousands of barrels of oil and significant volumes of natural gas daily.

India’s state-owned energy major, Oil and Natural Gas Corporation (ONGC), posted a sharp 35% year-on-year decline in its net profit for the March quarter of FY25, weighed down by lower crude price realisations despite nearly stable oil and gas production. Net profit slipped to Rs. 6,448 crore, while revenue rose marginally by 1% to Rs. 34,982 crore. Annual profit also declined 12% to Rs. 35,610 crore. Still, ONGC ramped up capital expenditure to a record Rs.

BP Plc, a global energy powerhouse and a major contributor to India’s natural gas production, is intensifying its footprint in the country by unlocking new reserves in the Mahanadi basin's NEC-25 block. The move comes in response to sweeping reforms introduced by the Indian government aimed at revitalizing the upstream oil and gas sector.