Oil and Natural Gas Corporation
ONGC, the Transparency International report said, fared in the top tier when it came to disclosure of revenue at home, providing information about regulatory structure and procurement practices and disclosure of anti-corruption programmes.
However, when it came to operations outside home country, ONGC (Videsh) fell in the lowest tier for disclosing only by geographical segment and providing almost no additional information relevant to revenue transparency, the report said.
"Further improvement for this group required increased reporting on all areas of revenue transparency," it added.
Some of ONGC's achievements during the financial year 2007-08:
28 Exploration discoveries : Oil (11) and Gas (17)
OVL ventured into two new countries - Turkmenistan and Congo Brazzaville and secured equity participation in 11 oil and gas projects in 6 countries.
ONGC board approved aggregate investment proposals worth Rs 28,207 crore (Rs 282.07 billion) in 12 board meetings during the fiscal year.
Highest-ever CAPEX at Rs 16,215 crore or Rs 162.15 billion (up 22 per cent from 2006-07)
As on March 31, 2007, ONGC's revenue from crude oil sales stood at Rs 37209 crore (Rs 372.09 billion) and that from natural gas sales stood at Rs 7,211.3 crore (Rs 72.11 billion).
The company's net profit stood at Rs 15642.9 crore (Rs 156.43 billion) whereas retained earnings for the year were Rs 7,999.9 crore (Rs 80 billion).
Image: One of ONGC's many exploration units in Tamil Nadu.
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