VIJAYAWADA (PTI):India’s first oil exploring company Oil and Natural Gas Commission (ONGC) topped list performance in 1993-94 with an estimated net profit of Rs 20 billion It was the highest ever profit figure for ONGC since inception marking increase of 153% over the previous year’s profit of Rs 788 billion 3 release said here recently.
During the year ONGC contributed i approximately Rs 41 billion to the national exchequer of whichRs31.81 billion went to the federal govern ment and Rs 929 billion to the state governments.
It produced 2421 million tons an average daily production of 5000 barrels of crude during the year. It implemented its production program despite problems posed by the troubled environment in the north eastern sector of its operations. LPG production was 9.30 790 ton mark surpassing $76000 ton target a 100% achievement. It supplied 13371 million cubic meters (MCM) natural gas to consumers all over the country registering 101% target achievement.
Article extracted from this publication >> May 6, 1994
