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Oil and Natural Gas Ltd. ONGC

(Manufacturing & Production) Dehradun INDIA
Power News
ONGC fuel subsidy bill up 15 per cent in Q2    Mumbai, (PTI) State-owned Oil and Natural Gas Corporation's fuel subsidy bill will increase by nearly 15 per cent to Rs 3,019 crore in the second quarter this fiscal. PSU fuel retailers IndianOil Corporation Ltd, Bharat Petroleum Corporation Limited (BPCL) and Hindustan Petroleum Corporation Limited (HPCL) together lost about Rs 11,295 crore in revenues on selling diesel, domestic LPG and kerosene below cost of production in July-September quarter, an official said here. "Of this under recovery, upstream companies like ONGC, Oil India and Gail India will bear one-third," official added. As per this subsidy sharing formula, ONGC will chip in with Rs 3,019 crore by way of discount on crude oil it sells to IOC, BPCL and HPCL. The subsidy outgo of ONGC will be Rs 2,630 crore higher than in the second quarter of last fiscal.
Oil and Natural Gas Ltd. ONGC 's City : Dehradun
Oil and Natural Gas Ltd. ONGC 's Country : INDIA
 
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