ONGC India: In Search of a New Growth Strategy
The case discusses two important themes within the context of the oil and gas industry. First, it sheds light on the context of the oil and gas industry in India, the prospects and potential pitfalls, and paints a broad-brush picture of the key players currently operating in the market. Second, it discusses the theme of transformation of India’s largest national oil company (NOC), the Oil and Natural Gas Corporation (ONGC). While the industry structure discussion dwells on the business performance drivers in the exploration and production segment, as well as the refining and marketing segment, the transformation discussion focuses largely on the challenges facing leaders who are attempting to infuse state-owned companies with market discipline.
- Provide a snapshot of the prospects for oil and gas companies in India since the country opened its doors to foreign capital.
- Shed light on the unique constraints that NOCs face in both setting strategic direction and implementing change initiatives.
- Identify the specific areas where NOCs may have unique advantages over privately owned international oil and gas firms.
- Assess the overall potential of ONGC’s strategy for profitable growth.