ONGC to earn $ 80-85 per barrel on crude oil sale

New Delhi, Dec 18 (UNI) State-run Oil and Natural Gas Corporation (ONGC) today said it expects gross realisation on crude oil sales at 80-85 dollars per barrel in the third quarter of this fiscal.

''Our gross realisation for this fiscal will be about 80-85 dollars per barrel,'' ONGC Chairman and Managing Director R S Sharma said on the sidelines of a function here.

The country's biggest oil explorer had earned about 77 dollars per barrel of crude oil it produces in the second quarter of FY 2007-08.

Last financial year ONGC's net realisation in crude sale was 44.22 dollars per barrel, while gross realisation was 66.33 dollars per barrel.

UNI