Financial Performance (Standalone)

Q2 FY27 Performance:

  • Gross Revenue: ₹43,875 crore, up 32.8% YoY (from ₹33,030 crore in Q2 FY26)
  • Net Profit: ₹15,489 crore, up 57.3% YoY (from ₹9,848 crore in Q2 FY26)

H1 FY27 Performance:

  • Gross Revenue: ₹90,336 crore, up 38.9% YoY (from ₹65,033 crore in H1 FY26)
  • Net Profit: ₹32,522 crore (highest ever H1), up 82.0% YoY (from ₹17,872 crore in H1 FY26)

Price Realizations:

  • Crude Oil Nominated: $92.33/bbl (Q2 FY27) vs $67.34/bbl (Q2 FY26), up 37.1%
  • Crude Oil JV: $97.02/bbl (Q2 FY27) vs $68.35/bbl (Q2 FY26), up 41.9%
  • Gas Price Nomination: $7.00/mmbtu (Q2 FY27) vs $6.75/mmbtu (Q2 FY26), up 3.7%
  • New Well Gas Price: $10.24/mmbtu (Q2 FY27) vs $8.36/mmbtu (Q2 FY26), up 22.5%

Revenue from new well gas stood at ₹7,050 crore in H1 FY27, contributing more than 34% of total revenue from ONGC's nomination gas portfolio.

Financial Performance (Consolidated)

Q2 FY27 Performance:

  • Gross Revenue: ₹1,98,263 crore, up 25.6% YoY (from ₹1,57,914 crore in Q2 FY26)
  • Net Profit: ₹18,535 crore, up 46.9% YoY (from ₹12,615 crore in Q2 FY26)
  • Net Profit attributable to owners: ₹16,744 crore, up 55.3% YoY (from ₹10,785 crore in Q2 FY26)

H1 FY27 Performance:

  • Gross Revenue: ₹4,03,251 crore, up 25.6% YoY (from ₹3,21,020 crore in H1 FY26)
  • Net Profit: ₹25,089 crore, up 3.8% YoY (from ₹24,169 crore in H1 FY26)
  • Net Profit attributable to owners: ₹28,642 crore, up 39.1% YoY (from ₹20,589 crore in H1 FY26)

Dividend Declaration

The Board approved an interim dividend of 160% (₹8 per equity share of ₹5 face value). The total payout amounts to ₹10,064 crore, representing the highest ever dividend paid in a single installment. The record date for dividend distribution is 12th November 2026, which has been intimated to the stock exchanges.

Production Performance

Crude Oil Production (MMT):

  • Q2 FY27: ONGC Standalone: 4.437 (vs 4.630 in Q2 FY26); JVs: 0.244 (vs 0.308 in Q2 FY26); Condensate: 0.239 (vs 0.254 in Q2 FY26)
  • H1 FY27: ONGC Standalone: 8.890 (vs 9.314 in H1 FY26); JVs: 0.505 (vs 0.613 in H1 FY26); Condensate: 0.475 (vs 0.504 in H1 FY26)

Natural Gas Production (BCM):

  • Q2 FY27: ONGC Standalone: 4.839 (vs 4.918 in Q2 FY26); JVs: 0.087 (vs 0.114 in Q2 FY26)
  • H1 FY27: ONGC Standalone: 9.595 (vs 9.763 in H1 FY26); JVs: 0.182 (vs 0.232 in H1 FY26)

Standalone Oil and Oil Equivalent Gas (excl JVs):

  • Q2 FY27: 9.515 MMT (vs 9.802 MMT in Q2 FY26)
  • H1 FY27: 18.960 MMT (vs 19.581 MMT in H1 FY26)

Production moderation was attributed to reservoir complexities in KG-98/2 Asset (Eastern Offshore), monsoon-related operational challenges, delays in Pipeline Replacement Projects (PRP-8 and PRP-9), and lower gas offtake from onshore fields due to temporary demand reduction from major consumer facilities.

ONGC scaled up engagement of M/s bp as Technical Service Provider (TSP) for entire Western Offshore (TSP-1 & TSP-2) to enhance production from mature fields. M/s bp mobilized its team for TSP-2 (covering entire Western Offshore except MH field) in August 2026.

New Projects and Capex

Western Offshore Development Projects:

  • Awarded two major offshore development projects: MBOSN-2005-1, SD-4 & BS-17 and additional development of Ratna-1 & NLM-14
  • Combined capital investment: approximately ₹11,800 crore
  • Expected to unlock estimated 22 MMTOE of hydrocarbon potential

Pipeline Infrastructure:

  • Awarded Pipeline Replacement Project-X (PRP-X) with estimated cost over ₹4,300 crore
  • Project involves installation of new subsea pipelines and replacement of ageing pipeline infrastructure in Western Offshore
  • Aimed at enhancing asset integrity, operational reliability, and long-term production sustainability

Exploration Performance

Samudra Manthan: Drilled first exploratory well MNDWO181HDB-1 in OALP Block MN-DWHP-2018/1 (Mahanadi deepwater), proved gas-bearing.

New Discoveries (Q2 FY27): Notified two hydrocarbon discoveries (both onland):

1. Amraghat-1: New prospect discovery in Cachar District PML (Assam-Arakan fold Belt) with successful gas flow in Upper and Middle Bhuban Formations

2. Vadatal-48: New pool discovery in Vadatal Ext-I PML (NELP-VI block CB-ONN-2004/2, Cambay basin) creating new exploration opportunities below Chhatral Pay

Other Highlights

CB-OS/2 Block: ONGC designated as Government's nominee to continue petroleum operations in CB-OS/2 block, assumed control and possession of all associated assets, data, facilities, infrastructure, and operations effective 22 July 2026.

Awards and Recognitions:

  • Global Decarbonization Award 2026 (Platinum Category) from Energy & Environment Foundation (2 July 2026)
  • Best PSU Partner at PMIS Recognition of Partner Company Awards 2026 by Ministry of Corporate Affairs (14 August 2026)
  • Global Sustainability Champion Award 2026 (Platinum Category) by Global Energy & Environment Foundation (21 August 2026)
  • IPEOT won double honors at 16th Annual EEF Awards 2026 (2 July 2026)
  • NH&BS Asset won Corporate EHS Excellence Award 2026 at Greentech 3rd EHS Summit
  • IPEOT secured 35th patent for 'Single Phase Retarded Acid System' (20 August 2026)
  • IDWE received 12th Patent for Water-Based Drilling-Fluid Technology (8 September 2026)