ONGC Commissions Assam Gas Facility and Approves Rs 5,000 Crore Debt Plan
· Business · Economic Times, India Today, Zee News
The Indian stock market extended its losing streak for a sixth consecutive session on Tuesday, August 18, with the NSE Nifty50 falling 132.75 points to close at 24,154.90. The downturn was driven by elevated oil prices, higher global bond yields, and weak overseas cues that outweighed supportive domestic fundamentals. Amid this market pressure, state-owned ONGC commissioned gas evacuation facilities at Khoraghat GGS-1 in Assam's Golaghat district on August 18, 2026. The new infrastructure allows surplus associated natural gas from the Upper Assam Shelf to be processed and evacuated via the North East Gas Grid. Additionally, the ONGC board approved raising up to Rs 5,000 crore through the issuance of secured or unsecured redeemable non-convertible debentures.
Why it matters
The commissioning of the Assam gas facility improves regional energy infrastructure, while the Rs 5,000 crore debt fundraising provides ONGC with capital for upcoming corporate developments.
Read the original report — Economic Times
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