December24, 2016 (C) Ravinder Singh progressindia2015@gmail.com

GoI had taken so many BIG Decisions without any success like demonetization but had not taken this Critical decision to takeover KG Basin blocks from RIL & GSPC for their gross Incompetence & Scam in reporting Discoveries and then failing to produce even 1% of the promise.

India could have avoided IMPORTS of Petroleum & Energy worth $2 Trillion.

India could have Double The GDP growth and Clean Environment.

ONGC has performed exceedingly well given limited resource allocations.

GoI may takeover all the associated ASSETS including Pipelines from RIL & GSPC and pay them say $2b in 5 annual installments [CAG Valuation] THROUGH ORDINANCE so that ONGC can work on developing Discoveries Expeditiously than Investing in IMPORT Terminals that shall further INFLATE ENERGY IMPORTS – Drag on Indian Economy.

Ravinder Singh, Inventor & Consultant, INNOVATIVE TECHNOLOGIES AND PROJECTS

Y-77, Hauz Khas, New Delhi-110016, India. Ph; 091- 9871056471,

Ravinder Singh* is a WIPO awarded inventor specializing in Power, Transportation,

Smart Cities, Water, Energy Saving, Agriculture, Manufacturing, Technologies and Projects

 

$3B SPENT ON FIELD – ONGC to Pay $1.2 B for GSPC Assets in KG Basin

Oil and Natural Gas Corp (ONGC) will pay $1.2 billion for Gujarat State Petroleum Corp’s (GSPC) entire 80% stake in the Deen Dayal West field and six other finds in the KG Basin in a deal that would help the Gujarat firm deleverage.