RS Sharma, chairman, ONGC said to an international news wire at the Asia Oil and Gas Conference in Kuala Lumpur.
Last year ONGC had covered Rs 22,000 crore losses in revenue by the government through the oil marketing companies.
"The surge in crude oil prices is very disturbing and rather alarming especially for growing economies like India,'' said Sharma in the interview. "I expect oil prices to go up to $150 a barrel if there are supply disruptions.''
