Shares of Oil and Natural Gas Corporation (ONGC) declined 1.44 per cent to ₹253.08 on Tuesday morning as the gas leak at its Rudrasagar field in Assam entered the fifth day with no immediate resolution in sight.

The stock opened at ₹256.94 and touched a high of ₹257.09 before sliding to a low of ₹251.55 during morning trade on the NSE. The decline comes against the previous close of ₹256.79, reflecting investor concerns over the prolonged nature of the incident.

The gas leak began on June 12 at 11.45 AM during servicing operations at Well No. RDS-147 in Sivasagar district. ONGC’s initial press release stated the situation was “fully under control” with no fire or injuries reported. However, a follow-up release on June 16 indicated the company had deployed its Crisis Management Team, suggesting ongoing challenges in containing the leak.

The state-owned energy giant has evacuated affected families and established medical camps in coordination with district administration. ONGC emphasized that geological challenges are inherent to oil and gas operations and that it follows stringent safety protocols.

The company has initiated a detailed investigation to determine the root cause of the incident. ONGC’s management continues to monitor the situation closely as technical specialists work to normalize well operations.

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Published on June 17, 2025