ONGC reports a marginal rise in crude oil output, a slight dip in gas production for FY25

ONGC posts steady crude output with a 0.9% rise in FY25, a slight dip in gas production, and ₹35,610 crores profit amid record capex and 9 discoveries.

Oil and Natural Gas Corporation Limited (ONGC) has posted a marginal increase in crude oil output for FY25, even as gas production saw a slight dip. The company declared a standalone net profit of ₹35,610 crores for the fiscal year, down 12.1% from the previous year. ONGC's Board recommended a final dividend of ₹1.25 per share (25%), maintaining a record total dividend of ₹15,411 crores for FY25.

Stable crude output, slight fall in gas

ONGC's standalone crude oil production rose by 0.9% in FY25, reaching 18.558 Million Metric Tonnes (MMT), compared to 18.401 MMT in FY24. However, standalone natural gas output fell to 19.654 Billion Cubic Metres (BCM), down from 19.978 BCM in FY24.

Overseas arm ONGC Videsh Limited recorded a 1.2% increase in crude oil production, up from 7.178 MMT in FY24 to 7.265 MMT in FY25. Its gas output, however, dipped to 3.013 BCM due to declining reserves in Vietnam.

Financial snapshot

Here's a quick look at key financial highlights of performance and growth:

• Gross revenue (Standalone): ₹1,37,846 crores (down 0.4%)
• Total consolidated revenue: ₹6,63,262 crores (up 1.5%)
• Consolidated net profit: ₹38,329 crores (down 30.7%)

Drilling and discoveries

In a notable achievement, ONGC drilled 578 wells in FY25, the highest in the last 35 years, including 109 exploratory wells. The year saw 9 discoveries, with 8 of them monetised. Noteworthy finds include:

• Yandapalli-1 in the KG Basin
• Suryamani and Vajramani in Mumbai Offshore
• A new pool discovery in the Suryamani prospect (Mukta Formation)

Capex and investments

The company invested approximately ₹62,000 crores in capital expenditure during the year, significantly higher than in previous years. This includes ₹18,365 crores in ONGC Petro additions Limited (OPaL) and ₹4,600 crores in ONGC Green Limited for strategic renewable energy acquisitions.

Proven reserves remain steady

Total proven reserves of the ONGC Group stood at 775.43 million Metric Tonnes of Oil Equivalent (MMTOE), largely unchanged from 779.90 MMTOE in FY24.

With a continued focus on exploration and infrastructure, ONGC has reinforced its role as a central player in India's energy sector while adapting to changing global and domestic dynamics.