A relief package has become crucial for the survival of companies such as ONGC as the price crash since March has turned oil production into a loss-making proposition. For example, the total cost of a barrel of oil produced by ONGC works out to $45 after including royalty, cess and other sundry levies. So at Friday’s $35/barrel price of global benchmark Brent, ONGC actually loses $10/barrel.from Energy-Industry-Economic Times https://ift.tt/3gj4YUN
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