MoneyWorks4Me

ONGC ordered to pay Rs 242 crore to MbPT as wharfage compensation

22 Nov 2018 Evaluate

Oil and Natural Gas Corporation (ONGC) has been ordered to pay about Rs 242 crore to the Mumbai Port Trust (MbPT) as wharfage compensation for the transportation of crude oil through the two pipelines the company had laid within the limits of the state-run port. The company has to pay a compensation at one half of wharfage rate as applicable on the per tonne of crude oil which will be imported into the port of Mumbai through all or any of the ONGC pipelines.

ONGC is India’s largest government-run corporation and produces about 70% of India’s crude oil and natural gas. The corporation is the biggest public sector commercial organization in India.

Peers
Company Name CMP
ONGC 221.30
Oil India 451.15
Jindal Drilling&Inds 598.05
Deep Industries 797.95
Asian Energy Service 473.90
View more..