George Walker 02:01 PM 17-01-2016

$ONGC keeps drilling... ONGC today said it will not cut capital expenditure despite its revenues falling because of international oil prices slumping to 12 year low.

The fall in cost of services, however, will lower the financial outgo, it said.

"There will be no cut in capex activities. In fact there will be an increase, but financially there will be a reduction because of the fall in services cost," ONGC Chairman and Managing Director Dinesh K Sarraf told reporters here.