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Oil & Natural Gas Corporation (ONGC) on 18 September 2026 struck gas at deepwater well MN-DW18-1-H-D in the Mahanadi Offshore Basin, off the Odisha coast, under the Samudra Manthan initiative. The well drilled to a target depth (TD) of 1,623 metres recorded the gas strike at 1,441–1,452 metre interval.
The well is located approximately 43 km off Konark and is the first well in the Mahanadi Basin under the campaign. Its relative proximity to the coast offers potential for early monetisation, subject to further appraisal, and commercial evaluation.
IRB Infrastructure Developers Ltd rose 3.46% today to trade at Rs 19.73. The BSE India Infrastructure index is up 0.36% to quote at 568.81. The index is down 1.94 % over last one month. Among the other constituents of the index, Oil & Natural Gas Corpn Ltd increased 1.5% and Oil India Ltd added 1.4% on the day. The BSE India Infrastructure index went down 1.15 % over last one year compared to the 8.21% fall in benchmark SENSEX.
IRB Infrastructure Developers Ltd has added 0.92% over last one month compared to 1.94% fall in BSE India Infrastructure index and 4.37% drop in the SENSEX. On the BSE, 3.31 lakh shares were traded in the counter so far compared with average daily volumes of 8.5 lakh shares in the past one month. The stock hit a record high of Rs 23.94 on 21 May 2026. The stock hit a 52-week low of Rs 18.5 on 02 Mar 2026.
Oil India Ltd fell 0.42% today to trade at Rs 473. The BSE Oil & Gas index is down 0.02% to quote at 26117.79. The index is down 2.19 % over last one month. Among the other constituents of the index, Oil & Natural Gas Corpn Ltd decreased 0.4% and Bharat Petroleum Corporation Ltd lost 0.32% on the day. The BSE Oil & Gas index went down 1.03 % over last one year compared to the 5.36% fall in benchmark SENSEX.
Oil India Ltd has added 6.27% over last one month compared to 2.19% fall in BSE Oil & Gas index and 0% drop in the SENSEX. On the BSE, 1942 shares were traded in the counter so far compared with average daily volumes of 2.37 lakh shares in the past one month. The stock hit a record high of Rs 531 on 14 May 2026. The stock hit a 52-week low of Rs 384.6 on 29 Aug 2025.
Oil & Natural Gas Corpn (ONGC) successfully commissioned gas evacuation facilities at Khoraghat GGS-1 in Golaghat district, Assam, on 18 August 2026. The facility enables surplus associated natural gas from the Upper Assam Shelf to be processed and evacuated through the North East Gas Grid (NEGG) developed by Indradhanush Gas Grid (IGGL).
The development complements the commissioning of the Dergaon–Dimapur Pipeline, which has connected Nagaland to the North East Gas Grid and the National Gas Grid. The new connectivity will facilitate utilisation of nearly 1 lakh Standard Cubic Metres (SCM) of gas per day from ONGC's Jorhat asset.
ONGC is also developing hook-up facilities at Jantapathar and Kasomarigaon to connect additional producing fields of Jorhat Asset with the North East Gas Grid. These projects will further augment gas availability, reduce flaring and strengthen the gas-based economy of the region.
The reports further said that the U.S. approval removes a key hurdle for ONGC's Venezuelan investments and could pave the way for the state-run explorer to expand production, sign new agreements and take over operatorship of some projects from Venezuela's state oil company PDVSA.
ONGC Videsh, the overseas investment arm of ONGC, owns a 40% stake in the San Cristobal oil project, with the remaining interest held by Venezuela’s state-owned oil company, Petroleos de Venezuela S.A. (PDVSA). The company also has an 11% interest in the Carabobo oil project, which is currently under development.
An OFAC licence would allow ONGC Videsh to undertake financial transactions related to its Venezuelan assets and could facilitate the recovery of more than $500 million in pending dividends from its operations in the country.
ONGC is currently engaged with Venezuelan authorities and its joint-venture partners regarding its interests in the San Cristobal and Carabobo projects. The company expects progress on these discussions, including the possibility of entering into new agreements and potentially taking over operatorship of the projects from PDVSA.
The potential licence is important for ONGC as US sanctions on Venezuela’s oil industry have restricted financial transactions, investments and operational activities involving Venezuelan oil assets for several years. These restrictions have consequently limited ONGC’s ability to fully utilise its longstanding investments in the country.
Venezuela remains strategically significant for ONGC given its world-leading proven crude oil reserves of around 303 billion barrels, according to OPEC. However, years of underinvestment, sanctions and operational challenges have constrained the country’s production capacity, leaving significant potential for increased output and further development of its oil assets.
Maharatna ONGC is the largest crude oil and natural gas company in India, contributing around 71% to Indian domestic production. It has in-house service capabilities in all areas of exploration and production of oil & gas and related oil-field services. The Government of India held a 58.89% stake in ONGC as of December 2025.
The corporation had reported a 112.3% jump in standalone net profit to Rs 17,033.81 crore for the quarter ended 30 June 2026 (Q1 FY27), compared with Rs 8,024.23 crore in the corresponding quarter of the previous fiscal. Revenue from operations jumped 45.2% YoY to Rs 46,460.45 crore in the quarter ended 30 June 2026.
The scrip rose 0.40% to currently trade at Rs 237.35 on the BSE.
Oil India Ltd rose 0.57% today to trade at Rs 472.6. The BSE Oil & Gas index is up 0.32% to quote at 26358.58. The index is down 0.67 % over last one month. Among the other constituents of the index, Petronet LNG Ltd increased 0.57% and Oil & Natural Gas Corpn Ltd added 0.11% on the day. The BSE Oil & Gas index went up 1.29 % over last one year compared to the 3.36% fall in benchmark SENSEX.
Oil India Ltd has added 8.47% over last one month compared to 0.67% fall in BSE Oil & Gas index and 0.33% drop in the SENSEX. On the BSE, 4474 shares were traded in the counter so far compared with average daily volumes of 2.54 lakh shares in the past one month. The stock hit a record high of Rs 531 on 14 May 2026. The stock hit a 52-week low of Rs 384.6 on 29 Aug 2025.
Oil India Ltd gained 2.6% today to trade at Rs 452.45. The BSE Oil & Gas index is up 0.61% to quote at 26511.06. The index is up 0.71 % over last one month. Among the other constituents of the index, Oil & Natural Gas Corpn Ltd increased 0.86% and Indraprastha Gas Ltd added 0.39% on the day. The BSE Oil & Gas index went up 1.85 % over last one year compared to the 1.7% fall in benchmark SENSEX.
Oil India Ltd has added 6.46% over last one month compared to 0.71% gain in BSE Oil & Gas index and 1.2% rise in the SENSEX. On the BSE, 16557 shares were traded in the counter so far compared with average daily volumes of 2.28 lakh shares in the past one month. The stock hit a record high of Rs 531 on 14 May 2026. The stock hit a 52-week low of Rs 384.6 on 29 Aug 2025.