(Reuters) - NEW DELHI, June 25 - India's state-run Oil and
Natural Gas Corp. Ltd. said its fourth-quarter
net profit fell 13 percent, lagging forecasts, due to higher
mandatory discounts to refiners and one-off staff costs.
ONGC, India's second most valuable listed company with a
market cap of $48 billion, also said it was in talks with oil
majors Chevron , Total and Royal Dutch Shell
to swap stakes in oil blocks and planned to spend $10.3
billion in acquiring and developing overseas assets by 2012.
Read more at Reuters.com Market News
Natural Gas Corp. Ltd. said its fourth-quarter
net profit fell 13 percent, lagging forecasts, due to higher
mandatory discounts to refiners and one-off staff costs.
ONGC, India's second most valuable listed company with a
market cap of $48 billion, also said it was in talks with oil
majors Chevron , Total and Royal Dutch Shell
to swap stakes in oil blocks and planned to spend $10.3
billion in acquiring and developing overseas assets by 2012.
Read more at Reuters.com Market News
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