Question: Is ONGC Going To Be Privatised?

Are PSU going to be Privatised?

In the past, the government would come up with an identified list of PSUs to privatise.

This time, it is the other way round.

The government will keep some PSUs in strategic sectors and disinvest everything else.

On 7 August, the government announced the list of strategic sectors..

Is BHEL a loss?

NEW DELHI: State-run engineering firm BHEL’s consolidated net loss widened to Rs 893.14 crore for the quarter ended June as coronavirus-induced lockdown had an adverse impact on its operations.

Is ONGC running in loss?

In January-March quarter, ONGC had booked an impairment loss of Rs 4,899 crore, which led to the firm reporting its first-ever quarterly loss of Rs 3,098 crore. “This impairment loss (of Q2 FY”21) may be reversed in future as and when there is an increase in crude oil and gas price,” ONGC said.

Who is owner of ONGC?

Government of India60.409%Life Insurance Corporation9.477%Indian Oil Corporation7.845%GAIL2.451%Oil and Natural Gas Corporation/Owners

What is the salary of ONGC employee?

47% Perks & Allowances….ONGC Salary in India (Revised):DesignationPay ScaleAssistant Executive Engineer/ Geophysicist/ Geologist/ Chemist/ ONGC Officer Salary RevisedRs.60000-180000Assistant Engineer/ Personal Secretary/ ONGC Assistant Salary RevisedRs.50000-160000Chief Superintendent/ Senior ForemanRs.32000-5600023 more rows•Apr 16, 2020

Is ONGC selling HPCL?

The acquisition turned ONGC from a zero-debt company to a firm with no cash and a huge debt pile. Sources said, since the government had repealed the acts that nationalised HPCL and Bharat Petroleum Corp Ltd (BPCL), ONGC is now free to sell the stake.

Will govt sell ONGC?

The government has asked state-owned Oil and Natural Gas Corporation (ONGC) and Oil India Ltd (OIL) to sell out 66 of their small oil and gas fields to private firms as it brought in a new policy to boost domestic production and cut imports, Petroleum Minister Dharmendra Pradhan said Thursday.

Should we invest in ONGC?

The average cost of production for ONGC is close to $3.7 per million British thermal unit. … Low domestic gas price in the domestic market is one of the major risk factors, to the profitability of the gas business.

Is BHEL getting Privatised?

The central government on February 4, 2020 stated that it has not taken any decision for strategic disinvestment and privatization of BHEL. … The Minister ruled out the disinvestment of Bharat Heavy Electricals Limited (BHEL).

Will NTPC get Privatised?

At present, the Government of India holds 54.5% stakes in NTPC. As an initial step of disinvestment, the Centre plans to reduce its stakes below 51%. … “If the government sells its stakes and brings it below 51%, the management’s control will also be transferred which will lead to total privatisation of NTPC,” he said.

What’s wrong with ONGC?

ONGC’s working capital fell into the negative territory last fiscal for the first time in the past many years. The working capital stood at a negative Rs 27,000 crore as of March 31, 2018 as against a positive Rs 7,039 crore as of March 31, 2017.

Why ONGC share price is going down?

Secondly, weak oil prices have been a key factor in the fall in ONGC stock price. … The 12.5% cut in domestic natural gas price has been highlighted as credit negative for ONGC by Moody’s. That is because, ONGC will see earnings fall by over Rs. 1,400 crore.