RIL row apart, oil price plays a spoiler in ONGC's KG plans


The slide in crude oil prices might push back development of the 98/2 block in the Krishna-Godavari basin, the most ambitious programme of state-run Oil and Natural Gas Corporation (ONGC), by at least two quarters.

ONGC was planning to start gas production here from April 2018. Oil production is slated to begin after that.

“Our programme might be delayed… at the current oil prices, it looks difficult. Our teams are revising the cost and we would have a report by the end of this financial year,” said an official. Read More

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