Iran & Oil and Natural Gas Corporation

Iran: US-Israeli strikes on Iran>>> and Tehran's retaliation have contributed to global crude oil price surges and disruptions to shipments through the Strait of Hormuz>>>, impacting India>>>'s fuel costs.

Oil and Natural Gas Corporation: Oil and Natural Gas Corporation>>>, as a state-run oil company, is experiencing financial pressure due to rising crude oil prices and a weakening India — Indian rupee>>>. Its director, Sushma Rawat>>>, has commented on the volatility of crude prices and the need for 'belt tightening' through fuel price hikes.

Iran: Iran is aligned with the Houthis and involved in the conflict with the US that has choked oil supply through the Strait of Hormuz.

Oil and Natural Gas Corporation: ONGC is the parent company of MRPL. The disruption may affect its subsidiary's operations and profitability.

Iran: The Iran conflict and Strait of Hormuz blockade highlighted India's vulnerability to supply disruptions, prompting the SPR expansion.

Oil and Natural Gas Corporation: ONGC is the lead developer of the new 1.75 MMT strategic petroleum reserve, receiving board approval and engaging with the government for commercial utilization. This project enhances ONGC's role in India's energy security infrastructure.

Iran: The Iran war triggered the crisis that led to this directive. The conflict disrupted Hormuz shipping, but Iran itself is not directly targeted by the new framework.

Oil and Natural Gas Corporation: Oil and Natural Gas Corporation, as an upstream gas producer, was assigned a combined target with GAIL (India) of 6,460 tonnes per day. It must maintain infrastructure and pursue upgrades to maximize LPG output.