More than 30,000 ONGC workers vow to boost national energy security

More than 30,000 employees of state-run Oil and Natural Gas Corporation (ONGC) took pledge to enhance national energy security on 64th Foundation Day on August 14, 2019. ONGC, the country’s largest oil and gas producer, celebrates this day every year to renew its pledge for national energy security. The employees were administered the pledge by ONGC directors at registered office. “The ONGC officers vowed to dedicate themselves to the nation’s energy security, through the diligence. The ONGC pledge was administered to a large gathering of employees,” ONGC said in a statement.

The corporate function was held at Dehradun. The company chief manageing director (CMD) Shashi Shanker unfurled the resplendent yellow and earth brown ONGC flag in the forecourt of the Subir Raha Oil Museum at Tel Bhavan, Dehradun, ONGC also said. The CMD and the Directors planted trees at the rear gate of Tel Bhavan, giving the message – “To save our environment one has to save and grow trees.”

Meanwhile, the government owned ONGC reported a 3.9 per cent year-on-year fall in net profit at Rs 5,904 crore for the first quarter ended June 30, 2019, impacted by falling prices of crude oil and falling production. “The company had posted a net profit of Rs 6,144 crore in the year-ago period,” ONGC said in a filing to the Bombay Stock Exchange (BSE). ONGC’s gross revenue slipped by 2.4 per cent to Rs 26,555 crore as against Rs 27,213 crore in the same quarter last year. On a consolidated basis, the net profit plunged 24.4 per cent YoY to Rs 7,043 crore, while the gross revenue slipped marginally by 0.8 per cent to Rs 1,09,515 crore in the given quarter.

Oil and Natural Gas Corporation Limited (ONGC)