ONGC commits up to Rs 2 Tn investment for emission targets

01 Sep 2023 CW Team

ONGC has unveiled a bold investment plan of up to Rs 2 trillion to be implemented in two phases (Scope I and Scope II) by 2038, aligning with its commitment to reducing emissions. These investments encompass initiatives in green ammonia, hydrogen, solar, and other measures aimed at minimising its carbon footprint.

Scope I involves addressing emissions directly controlled by ONGC, while Scope II covers the purchase of fossil fuel-based electricity and related solutions used within the company's processes. ONGC is actively pursuing its renewable energy goals, with the aim of scaling up its renewable portfolio to 10 GW by 2030.

Arun Kumar Singh, Chairman and CEO of ONGC, highlighted the renewed vigour in the global oil and gas sector, with major industry players revising their output reduction plans. He emphasised that the world is now embracing both conventional fuels and renewable energy, marking a significant shift.

In terms of international assets, ONGC reported that production from the Sakhalin-1 oil and gas field in Russia is nearing pre-crisis levels, currently at approximately 180,000 bpd. The production timelines for ONGC Videsh (OVL), the company's overseas arm, remain on track for assets in Colombia and Mozambique.

In Colombia, OVL's Block CPO-5 is producing 17,000 bpd, with plans for further production increases after regulatory approvals.In Mozambique, OVL's 'Offshore Area 1' project, valued at Rs 20 billion, is recovering from a force majeure declaration in April 2021. The revocation of the force majeure is anticipated soon.

ONGC achieved its highest-ever standalone net profit of Rs 388.29 billion in FY23, driven by a continued focus on oil exploration and the deployment of new drilling rigs. The company is also exploring opportunities in the oil-to-chemical (O2C), refining, and petrochemical value chains, including the establishment of two greenfield O2C plants.

Infrastructure Urban

05 Nov 2025

TBO Tek Q2 Profit Climbs 12%, Revenue Surges 26% YoY

TBO Tek Limited one of the world’s largest travel distribution platforms, reported a solid performance for Q2 FY26 with a 26 per cent year-on-year increase in revenue to Rs 5.68 billion, reflecting broad-based growth and improving profitability.The company recorded a Gross Transaction Value (GTV) of Rs 8,901 crore, up 12 per cent YoY, driven by strong performance across Europe, MEA, and APAC regions. Adjusted EBITDA before acquisition-related costs stood at Rs 1.04 billion, up 16 per cent YoY, translating into an 18.32 per cent margin compared to 16.56 per cent in Q1 FY26. Profit after tax r..

Northern Graphite, Rain Carbon Secure R&D Grant for Greener Battery Materials

Northern Graphite Corporation and Rain Carbon Canada Inc, a subsidiary of Rain Carbon Inc, have jointly received up to C$860,000 (€530,000) in funding under the Canada–Germany Collaborative Industrial Research and Development Programme to develop sustainable battery anode materials.The two-year, C$2.2 million project aims to transform natural graphite processing by-products into high-performance, battery-grade anode material (BAM). Supported by the National Research Council of Canada Industrial Research Assistance Programme (NRC IRAP) and Germany’s Federal Ministry for Economic Affairs a..

Antony Waste Q2 Revenue Jumps 16%; Subsidiary Wins Rs 3,200 Cr WtE Projects

Antony Waste Handling Cell Limited (AWHCL), a leading player in India’s municipal solid waste management sector, announced a 16 per cent year-on-year increase in total operating revenue to Rs 2.33 billion for Q2 FY26. The growth was driven by higher waste volumes, escalated contracts, and strong operational execution.EBITDA rose 18 per cent to Rs 570 million, with margins steady at 21.6 per cent, while profit after tax stood at Rs 173 million, up 13 per cent YoY. Revenue from Municipal Solid Waste Collection and Transportation (MSW C&T) reached Rs 1.605 billion, and MSW Processing re..