ONGCās Q1 gains were buoyed by rising revenue from new well gas, which crossed ā¹17 billionāā¹3.3 billion above the administered price mechanism (APM) rateāas the company stepped up output from premium-yielding sources. Indiaās largest oil and gas explorer, Oil and Natural Gas Corporation (ONGC) has reported a consolidated net profit of ā¹115.5 billion for the...
Tag: administered price mechanism
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Ministry gets request from OIL for gas revision
In order to meet the increasing cost of production and also to enable the proposed capital investment of over Rs 19,000 crore in the 12th Five Year Plan period (2012-17), Oil India (OIL) asked the union oil ministry to raise natural gas price. In a letter to the union oil ministry, the firm said its cost of production of natural gas from the nominated fields was increasing on sustained