New Delhi, June 21 -- Oil and Natural Gas Corp (ONGC) is morphing into a "gas-and-oil" entity rather than a traditional oil-and-gas producer, according to chairman Arun Kumar Singh. This rebranding highlights a tactical pivot driven by natural gas volumes overtaking crude oil.

"Gas is now slightly more than oil in our portfolio," Singh told analysts, adding that ONGC's future growth will be driven largely by gas production even as crude output remains broadly flat without major new discoveries.

"We should call ourselves a gas and oil company, not an oil and gas company."

Singh emphasized that gas has become the primary growth engine for the state-owned explorer, propelled by surging domestic consumption, favorable pricing overhauls, an...