What does ONGC mean in UNCLASSIFIED
Oil and Natural Gas Corporation Limited, commonly known as ONGC, is an Indian multinational oil and gas company. It is a state-owned enterprise of the Government of India, under the administrative control of the Ministry of Petroleum and Natural Gas. With its registered office in New Delhi, it has operations in all over India and abroad. Headquartered in Dehradun, Uttarakhand, it is India’s largest producer of crude oil and natural gas. As India’s leading energy major, ONGC has been ranked number one among Global Energy Companies by Platts on sustainability performance.
ONGC meaning in Unclassified in Miscellaneous
ONGC mostly used in an acronym Unclassified in Category Miscellaneous that means Oil And Natural Gas
Shorthand: ONGC,
Full Form: Oil And Natural Gas
For more information of "Oil And Natural Gas", see the section below.
What Does ONGC Stand for?
ONGC stands for Oil and Natural Gas Corporation Limited. The term ONGC encompasses both the exploration activities as well as the production activities related to hydrocarbons such as crude oil (petroleum) and natural gas which form an important source of energy in our everyday lives. It is a government-owned enterprise that is involved in various aspects of hydrocarbon related activities across India including exploration drilling, production fields development, marketing & transportation services etc.,
Essential Questions and Answers on Oil And Natural Gas in "MISCELLANEOUS»UNFILED"
What is the purpose of Oil and Natural Gas?
Oil and Natural Gas are used as primary sources of energy for running different power operations. These resources provide us with heat, electricity, fuel for transportation, and so much more. They are also used in industrial processes such as production of plastics and pharmaceuticals.
What type of industry uses Oil and Natural Gas?
Oil and Natural Gas are widely used in a variety of industries such as transport, manufacturing, chemical processing, construction, energy generation, mining, agriculture etc. They are also important components in various everyday products such as gasoline, asphalt, plastics petroleum-based materials etc.
How is Oil and Natural Gas produced?
Oil and natural gas is extracted from underground deposits through the process of drilling by oil companies or national oil companies. It is then refined to make it suitable for use in different forms that can be transported easily from one place to another for further processing or direct usage.
How does the use of renewable energy sources affect the demand for Oil and Natural Gas?
The use of renewable energy sources have become increasingly popular over the past few years due to its cost efficiency and environmental benefits over traditional energy sources like fossil fuels such as oil and natural gas. As a result, this has led to a decrease in the demand for oil and natural gas which has caused its price per barrel to drop significantly since 2014.
What impact does usage of Oil & Natural Gas have on global warming?
Burning fossil fuels such as oil & natural gas releases carbon dioxide into the atmosphere which contributes significantly to global warming when left unchecked. To reduce these emissions countries have implemented emission standards which put limits on how much carbon dioxide can be produced per unit time by industries using these forms of fuel as well as implementing other measures to increase efficiency when it comes to their usage.
Does market competition affect pricing of Oil & Natural Gas?
Yes, competition between oil & natural gas producers plays an important role in determining their prices globally due to supply & demand dynamics being affected by their extensive range of customers. Factors including geopolitical tensions between countries involved in their production, economic output from consumers among others contribute heavily when it comes to pricing them appropriately according to market conditions.
What regulations govern the production and transportation of Oil & Natural Gas?
Laws governing production and transportation of oil & natural gas vary depending on the country they’re being produced/transported from/to but generally include guidelines related to safety standards regarding human life & property protection during extraction/transport activities.
Final Words:
In conclusion, ONGC stands for Oil & Natural Gas Corporation Limited - a vital part of the Indian petroleum industry that plays a major role in meeting India's energy needs. It accounts for 80 % domestic production of Crude Oil & more than 60 % Natural Gas requirement and is among the top 5 Non-Ferrous Mining companies globally. There are many other areas where ONGC's presence can be felt – Conservation & Protection of environment through afforestation whereby providing employment opportunities to people living nearby its exploration projects; Corporate Social Responsibility initiatives like skill development helping tribal children access healthcare facilities; CSR initiatives like Project Saksham designed to promote a safety culture amongst its employees etc., All these clearly reflect how much pride this giant corporation takes in contributing towards sustainable economic development & social progress for communities around where it operates.