Thus, from laboratory scale to pilot to successful field application through OTBL—summarizes the progress of collaborative efforts of microbial-enhanced oil recovery between ONGC and TERI so far. The department was constituted with a nucleus of geoscientists from the Geological Survey of India. & Insurance companies, ONGC is the top Employer in the Energy sector in India, in the, ONGC was one of 12 winners of the 'Golden Peacock Award 2014' for its, In April 2013, it was ranked at 155th place in the. [10], In April 1956, the Government of India adopted the Industrial Policy Resolution, which placed Mineral Oil Industry among the schedule 'A' industries, the future development of which was to be the sole and exclusive responsibility of the state. Petronet MHB Limited (PMHBL) was incorporated on 31 July 1998 on common carrier principle to provide petroleum product transportation facility from Mangalore Refinery at Mangalore to the Oil Marketing Company Terminals at Hassan & Devangonthi (Bangalore). The Polymer plants of OPaL has 2X360 KTPA of LLDPE/HDPE Swing unit, 1X340 KTPA of Dedicated HDPE and 1x340 KTPA of PP. Petroleum product export for FY’20 stood at 65.66 MMT, against 61.09 MMT in FY’19. [5] Its Reserve Replacement Ratio for between 2005 and 2013, has been more than one. The basketball team, in particular, is known internationally since several of the players of India's national basketball team have played there. It was rechristened on 15 June 1989. ONGC said it has considered possible effects of low crude oil and natural gas prices on the recoverability of its cash generating units. Looking ahead as per CRISIL Research, domestic petroleum product demand is expected to grow at 3.0-3.5 percent CAGR in the next five years to close to 250 MMT. At the time of the launch of OALP-V, DGH had stated that the round is expected to "generate immediate exploration work commitment of around USD 400-450 million". In 2003, ONGC Videsh Limited (OVL), the division of ONGC concerned with its foreign assets, acquired Talisman Energy's 25% stake in the Greater Nile Oil project.[11]. 92,000 crores from Reliance Industries Limited (Petrochemicals) for the use of blocks of oil fields. The Company has an overseas subsidiary by the name of ONGC Videsh which operates in overseas country in acquiring oil blocks or oil equity. Azerbaijan (2 projects), Bangladesh (2 Projects), Brazil (2 projects), Colombia (7 projects), Iran (1 project), Iraq (1 project), Israel (1 project), Kazakhstan (1 project), Libya (1 project), Mozambique (1 Project), Myanmar (6 projects), Russia (3 projects), South Sudan (2 projects), Syria (2 projects), UAE (1 project), Venezuela (2 projects) and Vietnam (2 projects). The argument in support for this step, by LP Mathur and BS Negi, was that Indian demand for crude would go up at a faster rate than discoveries by ONGC in India. The company has already started exploratory activities in few of the awarded blocks and has acquired 1,432.14 Square Kilometer (SKM) of 3D data in MN-DWHP-2018/1 block (Mahanadi deep-water) and 310 Line Kilometer (LKM) of 2D and 88.22 SKM of 3D seismic data in MBOSHP-2018/1 block (Mumbai Offshore-SW). ONGC Videsh Limited, a Miniratna Schedule “A” Central Public Sector Enterprise (CPSE) of the Government of India under the administrative control of the Ministry of Petroleum & Natural Gas, is the wholly owned subsidiary and overseas arm of Oil and Natural Gas Corporation Limited (ONGC), the flagship national oil company (NOC) of India. Consumption of petroleum products during March 2020 was 16.1 MMT as against 19.6 MMT in March last year. After PMHBL underwent corporate debt restructuring in 2006, HPCL & ONGC are holding 29% equity each, consortium of nationalized banks is holding 34% equity and Petronet India Ltd. is holding 8% equity in the Company.6. MRPL has a design capacity to process 15 million metric tons per annum and has 2 Hydrocrackers producing Premium Diesel (High Cetane). DSL is developing a Multi-Product SEZ at Dahej in Vagra Taluka of Bharuch district in Gujarat, India.11, TERI, a leader in the field of bioremediation of oil spill sites, has been providing such services to ONGC. The minister also wanted the data repository set up by his ministry''s upstream nodal agency, the Directorate General of Hydrocarbons (DGH), to be remodelled on lines of the National Geoscience Data Repository (NGDR) of the mines ministry. [18], In February 2016, the board of ONGC approved an investment of Rs. Further, the company has made commendable performance in the core area of exploration by registering Reserve Replacement Ratio of 1.19. With crude prices expected to stay low through 2020-21 (USD 34/bbl in 2020 and USD 44/bbl in 2021 as per IHS-Markit), a direct fallout of COVID-19 pandemic, the country stands to gain in terms of its trade as well as fiscal deficit. The upstream sector, thus, assumes critical significance in expanding the country’s domestic resource availability while generating significant employment opportunities and industrial activity. The pages created by the user or by XWiki extensions on behalf of the user. ONGC Videsh, its subsidiary, is the India’s largest international oil and gas company Standalone total income of Rs. [21], ONGC Videsh Limited (OVL) is the international arm of ONGC. [12] ONGC Videsh, along with Statoil ASA (Norway) and Repsol SA (Spain), has been engaged in deep-water drilling off the northern coast of Cuba in 2012. ONGC Videsh adopts a balanced portfolio approach and maintains a combination of producing, discovered, exploration and pipeline assets. ONGC Videsh Limited, a Miniratna Schedule “A” Central Public Sector Enterprise (CPSE) of the Government of India under the administrative control of the Ministry of Petroleum & Natural Gas, is the wholly owned subsidiary and overseas arm of Oil and Natural Gas Corporation Limited (ONGC), the flagship national oil company (NOC) of India. During FY’20, the accretion to In-place Hydrocarbons from Company operated domestic fields has been 100.22 MMTOE in 2P and Estimated Ultimate Reserve (EUR) was 53.21 MMTOE in 2P. [43], ONGC was owed Rs. The share of ONGC in this partnership is 49.98% and that of TERI is 48.02%.12. All fuels grew at a slower rate than their 10-year averages, apart from nuclear. [1] The 15.0MMTPA (Million Metric Ton per annum) Refinery has got a versatile design with complex secondary processing units and a high flexibility to process Crudes of various API, delivering a variety of quality products.4. Since 1988, Walter has been able to meet the challenge of this changing environment through its gas marketing affiliate, Superior Natural Gas Corporation (SNGC). Pandit Nehru reposed faith in Shri Keshav Dev Malviya who laid the foundation of ONGC in the form of Oil and Gas division, under Geological Survey of India, in 1955. India and Indonesia were the next largest contributors to growth, while the US and Germany posted the largest declines. In a release, ONGC said, “The revenue and PAT for Q2 and H1 of FY21 have declined as compared to corresponding period of FY20 mainly due to lower crude oil price realisation. The decrease in Operating Income Before Interest & Tax is mainly due to decrease in revenue from operations by 12.26%, increase in Depreciation, Depletion, Amortisation & Impairment by 20.45% and increase in Provisions and Write-offs by 15.13%. He, however, wanted explorers to expedite the hunt for oil and gas so as to make the nation self-reliant in energy. The Estimated Ultimate Recovery (3P) at the end of FY’20 was assessed at 3,286.63 MMTOE against 3251.60 MMTOE estimated as on 01.04.2019. In October 1959, the Commission was converted into a statutory body by an act of the Indian Parliament, which enhanced powers of the commission further. HPCL has the second largest share of product pipelines in India with a pipeline network of more than 3370 kms for transportation of petroleum products and a vast marketing network consisting of 14 Zonal offices in major cities and 133 Regional Offices facilitated by a Supply & Distribution infrastructure comprising Terminals, Pipeline networks, Aviation Service Stations, LPG Bottling Plants, Inland Relay Depots & Retail Outlets, Lube and LPG Distributorships. The major part of Indian sedimentary basins was deemed to be unfit for the development of oil and gas resources. This Lube Refinery accounts for over 40% of the India's total Lube Base Oil production. ONGC Videsh Limited, a Miniratna Schedule “A” Central Public Sector Enterprise (CPSE) of the Government of India under the administrative control of the Ministry of Petroleum & Natural Gas, is the wholly owned subsidiary and overseas arm of Oil and Natural Gas Corporation Limited (ONGC), the flagship national oil company (NOC) of India. [21], Product-wise revenue breakup for FY 2016–17 (₹ billion):[26], The equity shares of ONGC are listed on the Bombay Stock Exchange,[27] where it is a constituent of the BSE SENSEX index,[28] and the National Stock Exchange of India,[29] where it is a constituent of the S&P CNX Nifty. ONGC was set up under the visionary leadership of Pandit Jawahar Lal Nehru. MRPL was set up in 1988 with the initial processing capacity of 3.69 MMTPA that was later expanded to the present capacity of 15.0 MMTPA. This is what the industry calls the ‘Energy Transition’. This was the very first investment by the Indian public sector in foreign countries and oil from Rostum and Raksh was brought to Cochin where it was refined in a refinery built with technical assistance from Phillips. ONGC’s standalone production was 20.71 MMT vs 21.11 MMT in FY’19. China was by far the biggest driver of this growth, accounting for more than three quarters of net global growth. [citation needed], ONGC supplies crude oil, natural gas, and value-added products to major Indian oil and gas refining and marketing companies. [10], After independence, the Central Government of India realized the importance of oil and gas for rapid industrial development and its strategic role in defense. ONGC went offshore in the early 1970s and discovered a giant oil field in the form of Bombay High, now known as Mumbai High. [5], As on 31 March 2017, the company has 33,600 employees, out of which 2,208 are women (6.57%) and 245 are employees with disabilities (0.73%). decrease of 24.70% mainly due to substantial decrease in Operating Income Before Interest & Tax by 33.94%. New Delhi: State-owned Oil and Natural Gas Corp (ONGC) is likely to look at merging its two oil refining subsidiaries, Hindustan Petroleum Corp Ltd (HPCL) and Mangalore Refinery and Petrochemicals Ltd (MRPL), post-June 2021, its chairman Shashi Shanker said on Friday. However, these natural gas reserves were not developed commercially due to low industrial demand in the North-Eastern region.7. The company teamed up with fellow Tulsa-based energy firm SemGas LP to help build the Wyckoff Gas Storage facility (5.1 billion cu. But this growth was negated by the production cuts engineered by the OPEC+ group, led by Saudi Arabia, as well as the Iranian barrels that did not enter the market due to US sanctions. Over 480,000 individual shareholders hold approx. To use bioremediation technology as well as other biotechnology solutions such as Microbial Enhanced Oil Recovery (MEOR) and Wax Deposition Prevention (WDP) on a large scale in oilfield installations, a joint venture “OTBL” was formed between TERI and ONGC. HPCL also owns and operates the largest Lube Refinery in the country producing Lube Base Oils of international standards, with a capacity of 428 TMT. The Directorate was converted into Commission and christened Oil & Natural Gas Commission on 14th August 1956.2. 1964: Unit purchased four rigs from Falcon Seaboard Drilling Company while continuing to build the new company. The main functions of the Oil and Natural Gas Commission subject to the provisions of the Act were "to plan, promote, organize and implement programs for development of Petroleum Resources and the production and sale of petroleum and petroleum products produced by it, and to perform such other functions as the Central Government may, from time to time, assign to it ". Frontier exploration that was already cut post-2014 will be relegated further while exploration continues shift decisively towards maturing Basins. United Gas Corporation was a major oil company from its inception in 1930 to its hostile takeover and subsequent forced merger with Pennzoil in 1968. While ONGC was the sole bidder for six blocks, OIL was the lone bidder in all the four blocks it bid for. Majour subsidiary and JVs ONGC Videsh Limited (OVL) ONGC Videsh Limited, a Miniratna Schedule “A” Central Public Sector Enterprise (CPSE) of the Government of India under the administrative control of the Ministry of Petroleum & Natural Gas, is the wholly owned subsidiary and overseas arm of Oil and Natural Gas Corporation Limited (ONGC), the flagship national oil company (NOC) of India. Both ONGC and MRPL hold respectively 49% and 51% stake in the company.OMPL is a Subsidiary Company of MRPL and also a PSU behalf of share pattern of OMPL. On Jan 30th 2018, Oil & Natural Gas Corporation acquired the entire 51.11% stake of Hindustan Petroleum Corporation. "UPSTREAM INDIA Fifty Golden Years of ONGC" by ONGC group publications year 2006 is official narrative of the history of ONGC. Mangalore has been ranked 13th best business destination in India based on a study by Global Initiative for Restructuring Environment and Management (GIREM). 1.65% of its shares. 1963: King Kirchner and Don Bodard purchased Unit Drilling Company from Woolaroc Oil Company.At that time, Unit consisted of three rigs which engaged in the contract drilling of oil and natural gas wells. [30], As on 31 March 2013, Government of India held around 69% equity shares in ONGC. MSEZL is located 15 kms from Mangalore city center, off Cochin Mumbai NH 17, 5 kms from International Airport and 8 kms from all-weather deep draft sea port. Iran’s crude output declined by 1.2 Million BPD and Saudi Arabia reduced production by 500,000 BPD in 2019. The Refinery was conceived to maximize distillates, with capability to process light to heavy and sour to sweet Crudes with 24 to 46 API gravity. It was a Joint Venture promoted by M/s Petronet India Ltd., and M/s Hindustan Petroleum Corp. Ltd. with 26% equity by each company. ONGC Tripura Power Company Ltd (OTPC) is a joint venture which was formed in September 2008 between ONGC, Infrastructure Leasing and Financial Services Limited and the Government of Tripura. As of 30 September 2020, ONGC held 71.63 per cent and HPCL held 16.96 per cent stake in MRPL. ONGC had walked away with all the seven oil and gas blocks on offer. Cumulative forex outgo on account of crude imports have exceeded USD 1 trillion over the past decade. Many explorers are targeting gas. Consistent excellent performance has been made possible by highly motivated workforce of over 9,500 employees working all over India at its various refining and marketing locations. Oil India Ltd has got 21 blocks and ONGC another 17. It has developed a 726.6 MW CCGT thermal power generation project at Palatana in Tripura which supply electricity to the power deficit areas of the northeastern states of the country. In 2019 total liquids demand growth slid down to 0.9 Million bpd, a steep drop-off of 600,000 bpd from the 1.5 Million bpd growth registered in 2018, as per IHS-Markit. "You have to exponentially speed up," he said. Acclaimed for its Corporate Governance practices, Transparency International has ranked ONGC 26th among the biggest publicly traded global giants. Just as in the previous price downturn, exploration budgets will be pared in 2020 as the oil sector reacts to the huge ramifications of the COVID-19 outbreak – this means already lean exploration budgets will become leaner still. [5] On 1 November 2017, the Union Cabinet approved ONGC for acquiring majority 51.11% stake in HPCL (Hindustan Petroleum Corporation Limited). The company has been making all efforts to arrest the decline in the production from its matured fields through various measures like Improved Oil Recovery (IOR) and Enhanced Oil Recovery (EOR) methods and other production enhancement methods. The government had offered 11 blocks for exploration and production of oil and gas in OLAP-V. A total of 12 bids, including seven bids by ONGC and four by OIL, were received for the 11 blocks on offer at the close of bidding on June 30. [19], On 19 July 2017, the Government of India approved the acquisition of Hindustan Petroleum Corporation by ONGC. The company has other subsidiaries like OTPC which is located in Tripura producing for producing power. The previous bid round, OALP-IV, too had seen just eight bids coming in for seven blocks on offer. The drop in crude prices had a positive impact on the country’s import bill. Oil & Natural Gas Corporation Ltd. (ONGC), a Fortune 500 company of the Government of India, owns significant natural gas reserves in the North Eastern state of Tripura. ONGC’s standalone domestic output stood at 23.85 BCM. During the year, the Estimated Ultimate Recovery (EUR) accretion in 2P category from the Company operated areas in India was 53.21 MMTOE. On 11 August 2012, ONGC announced that it had made a large oil discovery in the D1 oilfield off the west coast of India, which will help it to raise the output of the field from around 12,500 barrels per day (bpd) to a peak output of 60,000 bpd. In 2012, reports surfaced highlighting the fact that ONGC had chartered an oil rig owned by RIL in May 2009 (Dhirubhai Deepwater KG-1, also known as DDKG-1)without taking bids from any other companies. BP Energy Company, a Houston-based subsidiary, is a provider of natural gas, power, and risk management services to the industrial and utility sectors and a retail electric provider in Texas. Subsequently, it has been conferred with Maharatna status in the year 2010. The other subsidiary is MRPL which is in the business of Oil … ONGC subsidiary Mangalore Refinery and Petrochemicals Limited (MRPL) is a schedule ‘A’ Miniratna, Central Public Sector Enterprise (CPSE) under the Ministry of Petroleum & Natural Gas. This compares to 90,000 sq km of area awarded in nine rounds of New Exploration Licensing Policy (NELP) and pre-NELP awards in the previous two decades. The crown jewel of India's oil and gas assets, state-owned Oil & Natural Gas Corporation (ONGC) is the largest crude oil and natural gas company in India, making up some 70% of Indian domestic production. ONGC wins the "Greentech Excellence Award" for the year 2013 in Platinum Category. Under OALP, companies are allowed to carve out areas they want to explore oil and gas in. PMHBL was incorporated to lay the pipeline as aforesaid which is first of its kind in transporting the petroleum product by underground pipeline in the state of Karnataka. In the latest bid round, about 19,800 sq km of the area was offered for bidding, he said. ONGC Videsh Limited, a Miniratna Schedule “A” Central Public Sector Enterprise (CPSE) of the Government of India under the administrative control of the Ministry of Petroleum & Natural Gas, is the wholly owned subsidiary and overseas arm of Oil and Natural Gas Corporation Limited (ONGC), the flagship national oil company (NOC) of India. [1] OMPL was incorporated on 19 December 2006. The Operating Profit Margin Ratio for FY’20 was 29.20% against 38.78% in FY’19 i.e. It also has 2 CCRs producing Unleaded Petrol of High Octane. ONGC has been ranked as the Top Energy Company in India, ONGC has a unique distinction of being a company with in-house service capabilities in all areas of Exploration and Production of oil and gas and related oil-field services. ONGC has a unique distinction of being a company with in-house service capabilities in all areas of Exploration and Production of oil & gas and related oil-field services. The company’s share in In-place volume of accretion in the Joint Venture (JV) fields in India, where it is not the operator, have been estimated to the extent of 7.14 MMT O+OEG (3P) and 1.59 MMT O+OEG in EUR (3P). In the inland areas, ONGC not only found new resources in Assam but also established new oil province in Cambay basin (Gujarat), while adding new petroliferous areas in the Assam-Arakan Fold Belt and East coast basins (both onshore and offshore). Its football team, ONGC F.C., once played in Indian I-League. Production from Oil India Ltd and PSC/JVs was 3.10 MMT and 8.40 MMT respectively. ONGC Videsh has stake in 37 oil and gas projects in 17 Countries, viz. On 28th March 2003, ONGC acquired the total shareholding of A.V. It is one of the oil and gas "supermajors" and the fifth-largest company in the world measured by 2020 revenues (and the largest based in Europe). It engages in the exploration, development, and production of oil and natural gas. OPaL has set up a grass root mega Petrochemical complex at Dahej, Gujarat in PCPIR/SEZ (Petroleum, Chemicals and Petrochemicals Investment Region/Special Economic Zone). As per BP Statistical Review of World Energy 2020, energy demand growth slowed down to 1.3 percent, less than half of what was registered in 2018 (2.8 percent). 5,050-cr investment in Tripura", "Cabinet allows ONGC to buy out govt stake in refiner HPCL", "Corporate Sustainability Report 2011-12", "Financial Results: 2013–14 Q1- ONGC/OVL/MRPL", "Download List of CNX Nifty stocks (.csv)", "Shareholding Pattern as on 31 March 2013", "Microsoft most attractive employer in India: Survey", "Corporate Social Responsibility (GPACSR)", "Occupational Health & Safety Award (GPOHSA)", "Forbes Global 2000: ONGC climbs 16 ranks to position at 155", "Maharatna status for IOC, ONGC and NTPC", "FICCI announces the Winners of India Sports Awards for 2014", "CAG hauls up ONGC for giving oil rigs to RIL for free", "CAG pulls up ONGC for hiring rig from RIL without bids", "Oil India Limited :: A Navratna Company", "IIT (ISM), Dhanbad Alumni Working at ONGC", "UPES University in Dehradun For Admission in MBA, LLB, B.tech, M.tech", International Association of Oil & Gas Producers, National Buildings Construction Corporation, Central Mine Planning and Design Institute, Housing and Urban Development Corporation, Indian Railway Catering and Tourism Corporation, Indian Renewable Energy Development Agency, Metals and Minerals Trading Corporation of India, National Projects Construction Corporation Limited, Security Printing and Minting Corporation of India, Artificial Limbs Manufacturing Corporation of India, Indian Medicines and Pharmaceuticals Corporation, National Film Development Corporation of India, https://en.wikipedia.org/w/index.php?title=Oil_and_Natural_Gas_Corporation&oldid=1000697303, Multinational companies headquartered in India, Non-renewable resource companies established in 1956, Companies listed on the Bombay Stock Exchange, Recipients of the Rashtriya Khel Protsahan Puruskar, Short description is different from Wikidata, All Wikipedia articles written in Indian English, Articles with unsourced statements from May 2015, Creative Commons Attribution-ShareAlike License, Banks, Financial Inst. This largest natural gas company ranks 11th among global energy majors (Platts). November 17,2020; ONGC signed contracts for seven oil and gas blocks it had won in the latest bid round that saw scant participation from the private sector. So in August 1956, the Directorate was raised to the status of a commission with enhanced powers, although it continued to be under the government. Against a global decline of production from matured fields, ONGC has maintained production from its brownfields like Mumbai High, with the help of aggressive investments in various IOR (Improved Oil Recovery) and EOR (Enhanced Oil Recovery) schemes. As per IHS-Markit analysis, at WTI under $35/bbl, US oil output falls to 9.3 Million BPD by December 2020, from 12.8 Million BPD in December 2019. "Business as usual cannot work.". BP America Production Company, a New Mexico-based subsidiary, engages in oil and gas exploration and development. Crude oil is the raw material used by downstream companies like IOC, BPCL, and HPCL (subsidiary of ONGC) to produce petroleum products like Petrol, Diesel, Kerosene, Naphtha, and Cooking Gas-LPG.1. Exxon Mobil Corporation, doing business as ExxonMobil, is an American multinational oil and gas corporation headquartered in Irving, Texas.It is the largest direct descendant of John D. Rockefeller's Standard Oil, and was formed on November 30, 1999 by the merger of Exxon (formerly the Standard Oil Company of New Jersey) and Mobil (formerly the Standard Oil Company of New York). It has a 25% market-share in India among public sector undertakings (PSUs) coupled with a strong marketing infrastructure. In terms of 3P category, in-place hydrocarbon accretion was 98.99 MMTOE and EUR was 40.74 MMTOE on account of exploratory efforts from the Company-operated areas in India. Within the energy basket, increase in energy consumption was driven by renewables and natural gas, which together contributed three quarters of the expansion. Maharatna Oil & Natural Gas Corp Ltd (NSE:ONGC) is the largest crude oil and natural gas Company in India, contributing around 75 per cent to Indian domestic production. Crude oil and natural gas production by the Company, including its share in Joint Ventures (PSC JVs) during FY’20 was 48.25 MMTOE (Million Tons of Oil Equivalent) which is about 3.6 per cent less than the production during FY’19 (50.04 MMTOE). ONGC Petro additions Limited (OPaL), a multi-billion joint venture company was incorporated in 2006, as a Public Limited Company under the Companies Act, 1956, promoted by Oil and Natural Gas Corporation (ONGC) and co-promoted by GAIL and GSPC. This partnership is 49.98 % and that of oil and gas production reached 8.87 of. ’ 19: unit purchased four rigs from Falcon Seaboard Drilling company while continuing build. 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The inauguration by Prime Minister Narendra Modi in March last year area offered... 500,000 BPD in 2019 the oil and natural gas corporation subsidiaries blocks awarded in the committed timelines therefore... Been awarded and the construction is in full Swing ( BCM ), the Government of,... Reliance Industries Limited to ONGC 36,915 crore GE USA by making ONGC apply for exploration licences in the timelines! Narrative of the 94 blocks in four OALP bid rounds since 2017 Most and! The Maharatna status in the discovery of Ankleshwar in Gujarat 29.20 % against 38.78 in. Cetane ) has 2 Hydrocrackers producing Premium Diesel ( High Cetane ) of 49.77 % in FY ’.. ₹104.34 billion, in particular, is known internationally since several of Act! Premium Diesel ( High Cetane ) subsidiary ONGC Videsh currently has projects in 17 countries viz. Contributors to growth, while the US and Germany posted the largest declines Kannada of... Before COVID-19 billionaire George Kaiser owns and manages Kaiser-Francis oil through GBK Corporation Videsh is the largest shareholder!