ONGC, OIL face risk of subsidy sharing: Moody#39;s

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ONGC, OIL face risk of subsidy sharing: Moody#39;s Oil and Natural Gas Corp (ONGC) and Oil India Ltd (OIL) had for more than 13 years paid as much as 40 percent of the under-recoveries arising from fuel retailers selling petrol, diesel, cooking gas (LPG) and kerosene at a government-mandated price, which was way below the cost. This subsidy sharing ended in June 2015 with global oil prices plummeting.

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