The oil and gas pack is still shrouded with uncertainty that is spooking investors. There is no clarity on the subsidy sharing mechanism and the formula for sharing among PSUs is yet to be calculated. ONGC FPO seems deffered like for ever.
Sudhir Vasudeva, the new chairman of ONGC, joins CNBC-TV18 to opine on the way ahead for his company and the sector. He says that he is concerned about high subsidy hitting the company's profitability. The base case for net realisations has been pegged at USD 45/bbl for now, he informs.
Also, Vasudeva is set to meet officials from the Department of Divestment on the FPO next week. Maybe, that issue can be taken off the shoulders of the new chairman then. Read the transcript below for more. Also watch the accompanying video for Vasudev
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