With global crude prices hitting new 15-year lows, India's petrochemical giant Oil and Natural Gas Corporation Limited (ONGC) has now decided to put all its fresh capital expansion plans at the Krishna Godavari basin (KG D2 Block) on hold. This is likely to hit its 2018 production deadlineCNBC-TV18's Nayantara Rai learns from sources that the company will invest in new projects and the current investments are likely to go on. The development of holding back on investments is credited to low crude prices and lack of clarity on premium gas pricing. Earlier, ONGC's plan was to invest Rs 53,000 crore and start production by 2018. The company was to peak output of 77 barrels per day along with 16-17 mmsmcd of gas.
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