Overview

• Chair Arun Kumar Singh said reports that Russian spot crude is available below $60 a barrel are untrue.
• ONGC will keep purchasing Russian oil only when it is commercially viable and unless government policy changes, with HPCL and MRPL continuing regular buys.
• The company detailed 21 domestic projects budgeted at about Rs 66,000 crore this fiscal to boost production and strengthen infrastructure.
• At Mumbai High, ONGC aims to lift recovery to 45% from roughly 30%, a move it says could unlock about 370 million tonnes, with staged outcomes over the next 6–18 months.
• ONGC Videsh reported around $300–350 million in dividends stuck in Russia due to banking limitations, characterizing the sum as manageable.