{"id":289740,"date":"2019-08-31T05:50:31","date_gmt":"2019-08-31T05:50:31","guid":{"rendered":"http:\/\/infralive.com\/web\/?p=289740"},"modified":"2019-08-31T05:50:31","modified_gmt":"2019-08-31T05:50:31","slug":"ongc-charts-course-for-new-avatar-targets-15-16-billion-investment","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/ongc-charts-course-for-new-avatar-targets-15-16-billion-investment\/","title":{"rendered":"ONGC charts course for new \u2018avatar\u2019; targets $15-16 billion investment"},"content":{"rendered":"<p>India\u2019s top oil and gas producer ONGC on Friday unveiled a USD 15-16 billion investment plan to double output from its domestic and overseas fields and expand its refining capacity three folds alongside diversification into renewables in a new vision document for 2040. \u201cThe new strategy document aims to transforms ONGC in a new \u2018avatar\u2019 in this new energy landscape as a diversified energy company with strong contribution from non-E&amp;P businesses,\u201d Oil and Natural Gas Corp (ONGC) Chairman and Managing Director Shashi Shanker told reporters here. ONGC Energy Strategy 2040 envisions the company as \u201cA diversified energy company with a strong contribution from non E&amp;P business; 3x revenues and about 5-6x market capitalisation,\u201d he said.<\/p>\n<p>The firm produced 24.23 million tonne of crude oil in the 2018-19 fiscal year and 25.81 billion cubic metres of natural gas from its domestic fields. Another 10.1 million tonne of oil and 4.736 bcm of gas was produced from its overseas assets.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>India\u2019s top oil and gas producer ONGC on Friday unveiled a USD 15-16 billion investment plan to double output from its domestic and overseas fields and expand its refining capacity three folds alongside diversification into renewables in a new vision document for 2040. \u201cThe new strategy document aims to transforms ONGC in a new \u2018avatar\u2019 in this new energy landscape as a diversified energy company with strong contribution from non-E&amp;P businesses,\u201d Oil and Natural Gas Corp (ONGC) Chairman and Managing Director Shashi Shanker told reporters here. ONGC Energy Strategy 2040 envisions the company as \u201cA diversified energy company with a [&hellip;]<\/p>\n","protected":false},"author":44,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[130,195,138],"tags":[],"class_list":["post-289740","post","type-post","status-publish","format-standard","hentry","category-newspapers","category-oil-gas-the-financial-express","category-the-financial-express"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/289740","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/users\/44"}],"replies":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/comments?post=289740"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/289740\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=289740"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=289740"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=289740"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}