[Assam] Fw: Rigzone News: High Crude Prices Force ONGC to CutExpl...

[Dilip/Dil Deka]

Will the following explanation make any sense?
Because India imports a large amount of oil, the increase in crude oil price is taking away more of India's foreign exchange reserve. This in turn is reducing India's ability to invest in exploration that requires equipment and technology from outside, and ONGC is hurting due to this.
I am reading between the lines of course.
Dilip


----- Original Message ----
From: mc mahant <mikemahant at hotmail.com>
To: barua25 at hotmail.com
Cc: assam at assamnet.org
Sent: Saturday, June 17, 2006 7:22:00 PM
Subject: Re: [Assam] Fw: Rigzone News: High Crude Prices Force ONGC to CutExpl...


will take a hit
> of up to $2bn due to skyrocketing crude prices. This is expected to impair
> the exploration efforts, said petroleum secretary 

 
Bizarre journalistic jingo- Typical Indo-English/BENGLISH/Hindish?
Could somebody explain in plain English?
mm




From:  "Rajen & Ajanta Barua" <barua25 at hotmail.com>
To:  <assam at assamnet.org>
Subject:  [Assam] Fw: Rigzone News: High Crude Prices Force ONGC to CutExpl...
Date:  Fri, 16 Jun 2006 18:02:24 -0500
>
> >
> > HIGH CRUDE PRICES FORCE ONGC TO CUT EXPLORATION EFFORTS
> >    Tuesday, June 13, 2006
> > Oil and Natural Gas Corp's (ONGC) exploration investments will take a hit
> > of up to $2bn due to skyrocketing crude prices. This is expected to impair
> > the exploration efforts, said petroleum secretary MS Srinivasan at a press
> > conference in Mumbai.
> >    http://www.rigzone.com/news/article.asp?a_id=33075
> >
> > ------------------------------------------------------
> > For More Upstream Oil & Gas News, Visit:
> >    http://www.rigzone.com/news/
> > For Timely Updates, Subscribe to Email Newsletters:
> >    http://www.rigzone.com/subscribe.asp
> > ------------------------------------------------------
> > provided by:
> > RIGZONE  [ http://www.rigzone.com ]
> > 5870 Highway 6 North Suite 107  -  Houston, TX  77084
> >
> >
>
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