INDIAN GEOGRAPHY

Detailed explanation-1: -ONGC was founded on 14 August 1956 by the Government of India. It is the largest government-owned-oil and gas explorer and producer in the country, and produces around 70% of India’s crude oil (equivalent to around 57% of the country’s total demand) and around 84% of its natural gas.

Detailed explanation-2: -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.

Detailed explanation-3: -The full form of ONGC is Oil and Natural Gas Corporation. It is an Indian crude Oil and Gas multinational corporation, and its head office is located in New Delhi, India. ONGC is a public sector project which is under the administrative control of the Government of India’s Ministry of Petroleum and Natural Gas.

Detailed explanation-4: -ACT NO. 43 OF 1959 [ 18th September, 1959.] An Act to provide for the establishment of a Commission for the development of petroleum resources and the production and sale of petroleum and petroleum products produced by it and for matters connected therewith.

Detailed explanation-5: -(c) “Commission” means the Oil and Natural Gas Commission established under sub-section (1) of section 3 of the Oil and Natural Gas Commission Act, 1959 (43 of 1959);