Ministry of Petroleum and Natural Gas of the Repub : ONGC Pays Interim Dividend of Rs 2961Crore to the Union Government for the year 2012-13

Petroleum Minister Dr. M. Veerappa Moily formally received the payment of interim dividend of Rs 2961 crore from CMD ONGC Mr. Sudhir Vasudev payable to the Government of India by the company for the year 2012-13. This represents dividend payment at 100 percent of the equity Capital held by the government in ONGC.

CMD ONGC also briefed the Minister about various activity of the company. The Minister noted the issues facing the Navratna PSU. He emphasized the need for quick decision making to expedite resolution of the issues.

***

RCJ/RKS