Oil and Natural Gas Corporation (ONGC) has warned that the COVID-19 pandemic will impact the speed of execution of its projects and the company is identifying opportunities for optimisation of capital and operating expenditure. While about 9 per cent of the company's natural gas output was impacted by inability of customers to take supplies due to the coronavirus lockdown, lower oil and gas prices had impacted its revenues.
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.
