ONGC incurs â¹4,000cr loss on gas production due to price cap
State-owned ONGC has incurred a â¹4,000-crore loss on natural gas output in FY18 as the government mandated price for the fuel was less than the cost of production. "We need at least $4 per million British thermal unit (mmBtu) to break-even compared to current price of $3.06," an official said. Notably, ONGC produces around 75% of India's natural gas output.