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ONGC outlines 2040 strategic vision
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Angus Rodger
Vice President, SME Upstream APAC & Middle East
Angus Rodger
Vice President, SME Upstream APAC & Middle East
Angus leads our benchmark analysis of global Pre-FID delays, and deep water developments.
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ONGC outlines 2040 strategic vision
India's national oil company ONGC has just unveiled its 2040 strategy. It wants to double its production, triple its refining capacity, quadruple earnings, and increase its market value by five or six times by 2040. We've seen mixed results from ONGC in the past. For instance, they've yet to meet their lofty target of doubling overseas production to 400kb/d. And questions remain about the health of their financial position. Angus Rodger, research director, and Maxim Petrov, corporate research analyst, discuss what it would take for ONCG to deliver its highly ambitious plan.