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‘ONGC likely to be debt-free firm by year-end’

DNMUM442703 | 9/10/2019 | Author : Swati Khandelwal | WC :481

Q&A with Shashi Shankar, Chairman & Managing Director, ONGC
Zee Media Newsroom

About 50% of ONGC’s capital expenditure goes into drilling activity, of which 28% goes into development drilling and the remaining 22% is used for exploratory drilling, says Shashi Shanker, its chairman & managing director. During an interview with Swati Khandelwal, Shankar said, “Large investments are needed to increase the production of fields, which are 30-50 years old now”.

Crude is hovering around $60/barrel. Do you think that subsidy burden concerns have come to an end by now?
Subsidy has now become a part of history. We never offered any kind of subsidy in fiscal 2018 or 2019. Whatever little subsidy is given on LPG or kerosene is passed on directly with the help of benefit transfer. So a
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