The Oil Ministry proposed a new subsidy sharing proposal by which upstream companies ONGC and Oil India would not make any contributions towards subsidy burden if crude prices are at or below USD 60 per barrel.
The Oil Ministry proposed a new subsidy sharing proposal by which upstream companies ONGC and Oil India would not make any contributions towards subsidy burden if crude prices are at or below USD 60 per barrel.
The companies, however, take upon 85 percent of the burden if crude ranged between USD 60 and 100 and 90 percent if oil stays above USD 100.
In an interview to CNBC-TV18, Sudhir Vasudeva, former chairman and managing director, ONGC says the government should instead fix the price at USD 65 vis a vis 60 per barrel.
Transcript to follow soon.
ONGC stock price
On February 05, 2015, at 11:10 hrs Oil and Natural Gas Corporation was quoting at Rs 359.85, down Rs 8.5, or 2.31 percent. The 52-week high of the share was Rs 472.00 and the 52-week low was Rs 264.00.
The company's trailing 12-month (TTM) EPS was at Rs 26.00 per share as per the quarter ended September 2014. The stock's price-to-earnings (P/E) ratio was 13.84. The latest book value of the company is Rs 159.81 per share. At current value, the price-to-book value of the company is 2.25.
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