MOU performance rating of ONGC

MOU performance rating of ONGC during the last three years is as below:
Year
Score
Grading/ Rating
2007-08
1.81
Very good
2008-09
1.70
Very good
2009-10
1.53
Very good
Value-chain integration
  • Pursuing the globally-established integrated business model in petroleum industry, ONGC took up equity in the ailing Mangalore Refinery & Petrochemicals Limited (MRPL), a stand-alone refinery of 9.69 MMT capacity, in March 2003. This not only added that desired comfort to this Company in mitigating higher risk of E&P operation but also set an example in the Indian business history where a PSU has taken over a joint stock company and turned it around in a record time of one year.
  • Moving ahead, ONGC has taken structured initiatives towards value-multiplier integration projects like – Refinery, LNG, Petrochemicals, Power, SEZ, etc., to have presence in the entire hydrocarbon value-chain.
 Corporate Social Responsibility
ONGC is also a responsible corporate citizen and is playing an important role in strengthening the fabrics of the society. ONGC Group of companies promotes Education, Heath care & Entrepreneurship in the Community and support Water Management and Disaster Relief in the country. The company has increased its budget towards socio-economic development to 2% of net profit from 0.75%.

Corporate Governance
ONGC also was the first Indian PSU to sign Integrity Pact, to bring in transparency in all its official transactions. It also has launched the Whistle Blower Policy, following the best Corporate Governance practices. 

Health, Safety and Environment at ONGC 
ONGC has implemented globally recognized QHSE management systems conforming to requirements of ISO 9001, OHSAS 18001 and ISO 14001 at ONGC facilities and certified by reputed certification agencies at all its operational units.

ONGC shares the global concern on Climate change and global warming. ONGC has drawn elaborate programme to become carbon neutral and has registered 6 CDM (Clean Development Mechanism) projects with United Nations Framework Convention on Climate Change (UNFCC). ONGC has already started earning CER (Certified Emission Reduction) credits, in the process, becoming the first Indian PSU to do so.

ONGC Human Resources 
ONGC has vast pool of skilled and talented professionals – the most valuable asset for the company. 33,229 ONGCians (as on 31st March, 2011) dedicate themselves for the excellent performance of your company during the year. ONGC continues to extend several welfare benefits to the employees and their families by way of comprehensive medical care, education, housing and social security.  

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