ONGC's gross realisation on crude sales to reach $ 80/barrel

New Delhi, Nov 29 (UNI) State-run Oil and Natural Gas Corporation (ONGC) today said its gross realisation on crude oil sales will touch 80 dollars a barrel this month, against 78 dollars in October.

''The gross realisation in crude sale for a barrel must be 80 dollars this month, while it stood at 78 dollars in October,'' company Chairman and Managing Director R S Sharma told reporters here on the sidelines of the 6th Petro India 2007 on India's Changing Gas Scenario: The New Imperative.

The company had a gross realisation of 77 dollars per barrel with net realisation of 55 dollars during the second quarter of this fiscal, he said.

During 2006-07, ONGC's net realisation in crude sale was 44.22 dollars per barrel while gross realisation was 66.33 dollars per barrel.

In the first quarter of this fiscal (April-June), the state-run companies gross realisation was 71.77 dollars per barrel but net realisation was 50.21 dollars after it gave refiners a discount of 21.4 dollars for subsidising prices of domestic cooking gas, LPG, and kerosene.

UNI