India’s ONGC Losing Money on Domestic Gas Output

摘要

India’s Oil and Natural Gas Corp. (ONGC) says it may lose up to 70 billion rupees (about $960 million) from its gas business in the financial year ending Mar. 31, unless the government changes its pricing formula (IOD Sep.29’20). Finance Director Subhash Kumar told reporters during a conference call that state-controlled ONGC is currently losing about $2 per million Btu on its domestic gas production at the current price.