Moody Investor NEWS

Moody’s Investors Service has stated that ONGC and OIL might have to share the fuel subsidy burden amidst elevating oil prices. These companies used to bear the fuel subsidy burden for around 13 years, until 2015. However, the report also indicated that subsidy sharing will be manageable for both the companies. ONGC and OIL will have to endure a shortfall of Rs 9,000-28,000 crore in subsidy, entirely, or in part.