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ONGC to reconsider government demand to list exploration subsidiary

ONGC Videsh has stakes in 41 oil and gas assets in 20 countries and in the last fiscal year produced oil equivalent to 26.2 percent of India's local output

Reuters  |  New Delhi 

ONGC
(Photo: Reuters)

India's and Natural Gas Corp Ltd will reconsider the government's demand that it list ONGC Videsh Ltd, its overseas exploration subsidiary, Shashi Shanker, chairman and managing said on Wednesday.

The company has some reservations about the listing of ONGC Videsh and has conveyed this to the government, told reporters at an event in

The government in August had asked India's biggest company to list its subsidiary as part of a drive to sell state-assets to raise funds. 
 

ONGC Videsh has stakes in 41 and gas assets in 20 countries and in the last fiscal year produced oil equivalent to 26.2 percent of India's local output. 
 

The company, fully owned by ONGC, produced 11 percent more oil at 9.35 million tonnes in the last fiscal year while its rose by about 10 percent to 4.81 billion cubic metres.

 

 

 

First Published: Wed, January 02 2019. 18:11 IST
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