Oil & Natural Gas Corporation Limited has informed the Exchange about Denial on Media Report(s) dated 08.05.2025 regarding "ONGC cancels Mumbai High Tender, uncertainty looms over bp partnership".
ONGC · price
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Awaiting price reaction for this filing.
ONGC has formally denied a media report published on 08.05.2025 that claimed the company cancelled the Mumbai High tender and that its partnership with bp was in doubt. The company clarified that its contract with bp, under which bp acts as the Technical Services Provider (TSP) for the Mumbai High field, remains effective and fully operational. The filing was made to stock exchanges (NSE and BSE) to correct any misinterpretation caused by the news article. No change to the existing bp engagement has been reported.
This puts to rest concerns that the bp partnership or Mumbai High field operations are at risk, which is reassuring for shareholders. The stock is unlikely to face any negative fallout from the original media report once investors read the clarification.