(a) the ONGC profits in each quarter between 2016 and 2019;
(b) whether the ONGC reported a decline in December quarter in 2019, if so, the reasons for the same; and
(c) whether the ONGC has taken any loans or purchased Non-Performing Assets (NPAs), if so, the details thereof?
MINISTER IN THE MINISTRY OF PETROLEUM & NATURAL GAS
(SHRI DHARMENDRA PRADHAN)
(a) & (b): Quarter wise Profit After Tax (PAT) of ONGC between 2016 and 2019 is at Annexure-I. Decline in PAT in third quarter of 2019-20 is primarily due to decrease in price of crude oil.
(c): ONGC has taken loan of Rs. 24,881 crore to part finance strategic acquisition of Hindustan Petroleum Corporation Limited. The outstanding loan as on 29.02.2020 was Rs.12,105 crore. ONGC acquires assets at exploration, development or production stages based on the present status and its future potential. Performance of the asset depends on the vintage of the asset, geology, production and prices of the crude oil and gas.
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