ONGC doubling efforts to make up for time lost due to COVID-19 pandemic
18th Nov 2020

Oil and Natural Gas Corporation’s (ONGC) capital expenditure during the current fiscal is likely to be close to the Rs 32,500-crore target as it is doubling efforts to make up for the time lost due to the pandemic.

The COVID-19 outbreak and the global restrictions that followed had disrupted the supply chain, hitting its project implementation. Oil and gas exploration and production projects are highly dependent on foreign vendors for the supply of equipment and services. Also, some facilities like rigs are operated by a foreign crew. However, with the gradual resumption of economic activity globally, the company is hopeful of making up for the lost time.

ONGC is India’s largest government-run corporation and produces about 70% of India’s crude oil and natural gas. The corporation is the biggest public sector commercial organization in India.