Followers

Monday, November 13, 2023

ONGC to start pumping oil from $5 billion KG block next fortnight

State-run ONGC will start pumping crude from its $5-billion project off the Andhra coast in the next fortnight, bringing on stream the delayed project that is pivotal for reversing the company’s declining fortunes as a result of maturing fields. Output from the KG-DWN 98/2, the second deep sea project in the east coast after RIL-BP’s KG-D6 acreage, will give a fillip to domestic oil production at a time when dependence on imports is rising on the back of expanding oil demand.

from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/QUVbZr2

No comments:

Post a Comment

Economic growth likely to pick up on festive, rural demand: RBI

India's economic growth is expected to improve in the latter half of FY25, driven by festive activity, rural demand, and agricultural gr...