ONGC not affected by global crisis: Sharma

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New Delhi, Oct 17: On Friday, Oct 17 Oil and Natural Gas Corporation (ONGC), the country's largest oil producer, said the global financial turmoil has not affected any of its projects and the company has enough liquidity to meet its requirements.

''We are in better position in comparison to other companies ...the global financial turmoil has not affected any of our projects, till now...We have enough comforts for liquidity to be available for overseas investments,'' ONGC Chairman and Managing Director R S Sharma told reporters here on the sidelines of 11th Energy Summit organised by the ASSOCHAM.

Asked whether the ongoing financial crisis will affect the bridge loan which the company is raising for the Imperial deal, Mr Sharma said ''if the situation arises, we have enough liquidity to fund the deal.'' Expressing hope that the markets will stabilise in the next two-three months, Mr Sharma said, ''The way global economies responded, we expect the financial crisis to stabalise in next two to three months.'' However, if the turmoil continues, the company 'cannot remain insulated', he mentioned.


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