ONGC says subsidy amount to cross Rs 17,000 cr

New Delhi, Jan 2: Country's upstream major ONGC's chief R S Sharma today said the firm is likely to incur Rs 17,000 crore as subsidy on the fuel prices by the end of this financial year.

''In the first half of the current fiscal, we paid Rs 7,448 crore as subsidy on petrol, diesel, domestic cooking gas and kerosene and is expected to cross Rs 17,000 crore,'' Mr Sharma told reporters here on the sidelines of a conference. At present, petrol is being sold at a loss of Rs 8.74 a litre, diesel at Rs 9.92 per litre, kerosene Rs 20.53 a litre and LPG at a loss of Rs 256.35 per cylinder.

Mr Sharma said the firm's realisation on crude oil sale during December was 87-88 dollars per barrel.

UNI