“Subsidies Passed On To E&P Coz Will Break Our Backs”
  • Elizabeth George
  • Sep 10 2013

September 10: “We are very worried about the rupee and Syria situation,” ONGC Chairman Sudhir Vasudeva says, adding that any further subsidies will add to already high under-recoveries. “It is virtually impossible to carry out business with current margins,” he says. Vasudeva also spoke about ONGC’s plans for a stake acquisition in the Nagarajuna oils refinery in Cuddalore and in Haldia Petrochem as well as possible fund-raising plans.