Oil & Natural Gas Corporation Limited — Updates, 21-05-2025: Press Release

ONGC reported a 12% drop in net profit to Rs. 35,610 crore for FY’25, with crude oil production rising slightly by 0.9% to 18.56 MMT. Capex jumped to around Rs. 62,000 crore, driven by a 25% increase in exploration spending. The company drilled a record 578 wells, made 9 discoveries, and monetized 8. ONGC Videsh’s oil output grew 1.2%, offsetting lower gas production. HPCL and MRPL improved throughput but faced margin pressure. ONGC is expanding into renewables and boosting exploration in ultra-deepwater and frontier basins.