New Delhi, April 23, 2025: India’s largest upstream oil and gas major, Oil and Natural Gas Corporation (ONGC), is once again in the spotlight and this time, for something truly shocking. An insider has made a sensational revelation. There is a massive decline in production which ONGC experienced last year. What is really alarming is the fact that this may not be a coincidence but a part of a well-planned strategy! This news has sent shockwaves throughout the corporate world and amongst stakeholders.
Production Decline: Deliberate or Unavoidable?
According to sources, the drop in ONGC’s production is not due to any technical fault or natural cause. It is suspected that certain decisions made by the top management may have intentionally led to reduced output. Insiders claim this could be part of a conspiracy to weaken the company and pave the way for its privatization.This revelation has stirred concern amongst investors and shareholders as ONGC is considered a blue chip PSU which has always contributed to wealth creation and nation building. In fact, ONGC is the backbone of the nation’s energy security.
BP’s Entry under a cloud of suspicion has raised many an eyebrow.
Recently, ONGC appointed BP as the Technical Service Provider (TSP) for its largest and most productive offshore oil field, Mumbai High. While this partnership was professed as a step toward increased production leading to energy self-reliance, insiders suggest a direct link between BP’s entry and the production drop. Sources hint that this move may be part of a strategy to weaken ONGC and hand it over to private hands. Is BP here merely for technical assistance, or is there a larger corporate game at play?
BPCL Privatization in new guise and impact of current ONGC weakening.
Is there going to be a twist in the BPCL Privatization story? Some
Reports suggest that a major drama is unfolding regarding the privatization of Bharat Petroleum Corporation Limited (BPCL). Sources claim that BPCL Privatization had failed despite determined efforts. What was the real cause? Was it because the buyers wanted the estimated price to be lowered? What if the government now grants another extension to the process, it could spell trouble for ONGC also. Experts believe that the renewed BPCL’s privatization and ONGC’s weakening position might be two sides of the same coin. If this is true, it would indicate that ONGC is now “ailing” and is ready for privatization as well.
Reliance and BP Eyeing ONGC
What’s most shocking is that two corporate giants—Reliance Industries and BP—appear to be fully prepared to take over ONGC. Recently, Reliance, BP, and ONGC jointly acquired an offshore block in Gujarat during the OALP-IX bidding round, signaling a growing alliance between the three. Sources say these two companies are waiting for ONGC to weaken further so they can seize the opportunity to take control on their own terms. The Reliance-BP duo had previously demonstrated its strength through their partnership in the KG-D6 block.
Other OMCs also shortly on the block?
There are stories circulating in the corridors of power that the Pipelines Wing of IOCL, whose monitization exercise is complete, may be offered along with HPCL for Government to keep up the promise of quitting to be in business ventures. Hydrocarbon is still a profitable business all over the world and in India till now PSUs had done well. Now with the gradual weakening of PSUs in all veryicals – Upstream as well as Downstream, the justification would be easier. What the consumers will have to face as private monopolies take over is for all of us to see in future.
A word of caution for Investors as well as influencers
This news is highly concerning for PSU Hydrocarbon Companies shareholders starting with ONGC. In recent months, ONGC’s stock has seen a 25% drop, reflecting its weakened position. While some brokerage houses like Motilal Oswal and MK Global have issued a buy recommendation for ONGC, this revelation could shake investor confidence. Experts warn that if news of privatization and auctions turn out to be true, ONGC shares may see turbulent times.
What Do Experts Say?
Energy Experts believe that the production decline at ONGC and BP’s entry might be part of a corporate and political nexus. One analyst, speaking anonymously, said, “ONGC is being weakened to make way for privatization. The delay in BPCL’s auction and ONGC’s situation are part of a larger game.”
What’s Next?
Uncertainty in the Hydrocarbon Sector is foreseeable. ONGC’s future will be challenging. Is the company truly moving toward privatization? Will BP and Reliance take it over? Or will the government take concrete steps to rescue ONGC from this crisis? These are critical questions—not only for shareholders but for every citizen concerned about the country’s energy security.
Advice for Investors:
* Stay alert: Closely monitor news related to ONGC’s management and the auction process before investing.
* Diversify: To reduce sector-specific risk, include companies from other industries in your portfolio.
* Think long-term: If ONGC’s situation improves, the current low prices might offer a good investment opportunity.
This sensational revelation has sent tremors through the corporate world. All eyes are now on the Hydrocarbon Sector especially ONGC’s future. Will the company regain its former glory, or will it finally be privatized? Only time will tell.
Note: This report is based on information obtained from sources and available web data. Always consult an expert before investing.
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