Ahmedabad, 17 March 2021
The government-owned Oil and Natural Gas Corporation (ONGC) has seen an overall decline in the country’s total oil and gas production. Our dependence on imports has increased. The country’s production has declined.
The oil company of Gujarat government was making GSPC losses, Modi pressurized them to take ONGC.
ONGC’s production in 2019-20 was 4.45 million tonnes, which was 70.3 percent of the country’s total production of 6.33 million tonnes.
In 2015-16, ONGC’s oil and oil equivalent gas production fell to 4.35 million tonnes, accounting for 62.9 percent of the country’s total production.
In FY 2010-11, ONGC’s oil and oil equivalent gas production was 4.75 million tonnes, which was 52.8 percent of the country’s total consumption of 8.99 million tonnes.
During this period, production has naturally declined in some areas for over four decades. However, since then the company has been able to maintain production levels due to new inventions and heavy investment, which has led to a slight increase in production.
It has increased its share in the country’s oil and gas production to 70 per cent. A decade ago this share was 53 percent. This information is obtained from the data of the Ministry of Petroleum.