MoneyWorks4Me

ONGC agrees to do away with charging users marketing margin

14 May 2021 Evaluate

Oil and Natural Gas Corporation (ONGC) has agreed to do away with charging users a marketing margin on the gas it plans to produce from its KG basin field but refused to lower the minimum rate. ONGC, India's top oil and gas producer, last month sought bids for sale of initial 2 million standard cubic meters per day of gas from its KG-DWN-98/2 block (KG-D5).

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 225.50
Oil India 444.40
Jindal Drilling&Inds 585.60
Deep Industries 745.85
Asian Energy Service 458.45
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