Oil and Natural Gas Corporation (ONGC) has begun an exercise to shed excess cost at the Mumbai offshore oil and gas fields of Panna-Mukta whose control it regained after two and half decades and has already saved Rs 1 crore in the shipping cost. ONGC has changed the contract for bringing oil produced from the fields lying in the Arabian Sea to land, resulting in saving of about $5,000 per day.
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.
| Company Name | CMP |
|---|---|
| ONGC | 283.25 |
| Oil India | 465.40 |
| Jindal Drilling&Inds | 542.00 |
| Deep Industries | 477.95 |
| Asian Energy Service | 313.00 |
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