Govt says ONGC planning Rs 26,523 Cr spend on oil, gas hunt in FY11 – NW18

Govt says ONGC planning Rs 26,523 Cr spend on oil, gas hunt in FY11; ONGC’s FY11 oil output seen at 25.42 mt, FY12 at 26.58 mt: NW18

Government said that ONGC is planning Rs 26,523 crore spend on oil, gas hunt in FY11, reports CNBC-TV18 quoting NW18. It said ONGC’s FY11 oil output is seen at 25.42 mt and that of FY12 at 26.58 mt. The company’s FY10 Debt-GDP ratio is estimated at 57% and FY11 at 56.9%.

Government said that it is yet to finalise design, rates of goods & services tax. Output cost of Cairn’s Barmer crude is estimated at $ 5.50/bbl. It said that there are no plans to withdraw additional excise duty on auto fuels. RBI is considering regulatory reporting of CP, CD trades.

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Tagged as: NW18, ONGC, ONGC's FY11 oil output, reports CNBC-TV18