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RIL-BP auction of 5 mmscmd of gas-II: ONGC worried
Nov 20:
The price elicited for the RIL-BP auction of 5 mmscmd of gas has got ONGC worried.
8If prices remain this low for the next 4 to 5 years, as by quite a few projections they are likely to stay, the viability of its massive $5billion KG basin investment may come into question. As of now, the RIL auction price is way below the breakeven price for ONGC.
8Meanwhile, ONGC has put off its auction of first gas out of the KG-DWN-98/2 block till next month.
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8If prices remain this low for the next 4 to 5 years, as by quite a few projections they are likely to stay, the viability of its massive $5billion KG basin investment may come into question. As of now, the RIL auction price is way below the breakeven price for ONGC.
8Meanwhile, ONGC has put off its auction of first gas out of the KG-DWN-98/2 block till next month.
Click on Details for more
