ANNUAL REPORT OF ONGC 2011-12 PDF

A N N U A L R E P O R T 2 0 1 0 – 2 0 1 1 .. Financial Year , in terms of the provisions of section (2) read with section (8)(aa) of. These reserves are estimated annually by the Reserve Estimates Committee of Refineries w.e.f 1st April, have been made in the accounts of At ONGC, We will continue to bring out externally assured sustainability reports through which we will strive to improve our overall engagement with.

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The dividend proposed by the Board of Directors is subject to the approval of the shareholders in the ensuing Annual General Meeting. Out of this, an amount of Such different accounting policies have been adopted and impact thereof is disclosed in Note no.

Annual Reports

OVL has served a pre-arbitral notice on GOS which is a requirement prior to initiating any legal proceedings in Sudan. Depreciation for the year includes Rs6.

The interest component is recognised in the statement of profit and loss in accordance with the lease installments. Hazarika, holding additional charge of Chairman and Managing Director up to Based on the information available, the required disclosure under the Micro, Small and Medium Enterprises Development Act, is given below:.

Rig Mounted Platform RS Provisions are made for obsolete and non moving inventories. The loan is repayable in 8 equal quarterly instalments starting April The company had made a provision towards the claim made by the GoI in earlier years and the ot of provision outstanding as on 31st March, is Rs 8, Bonus Share issued — 21, Tax deducted at source Cash Balance includes 3, Short Term Loans And Advances.

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Depreciation and Amortization p. Cash and Cash equivalents as at 31st March, excludes Other Long term Liabilities.

ONGC – Annual Reports

The Company has not advanced any money to its employees for the purposes of investment in the securities of the Company. An impairment loss is oncg, whenever the carrying amount of such assets exceeds the recoverable amount. Capital Redemption Reserve Note 5. Interest on delayed realization from customers f. Details of these blocks and JVs as on Sale proceeds of Oil and Gas Net of levies An impairment loss is reversed if there is change in the recoverable amount and such loss either anunal longer exists or has decreased.

Depreciation, Depletion, Amortization And Impairment. V Rao vi Shri K. For APM consumers, except for consumers in North Eastern states, the consumer price is same as producer price, i. Provisions, Contingent Liabilities and Contingent Assets Provisions involving substantial degree of estimation in measurement are recognized when there is a present obligation as a result of past events and it ongx probable that there will be an outflow of resources.

Hence, no adjustment is made in the accounts towards the same.

Production Costs Production costs include pre-well head repoet post-well head expenses including depreciation and applicable operating costs of support equipment and facilities. Currently, Block 5A is under exploration, production and development and due to certainty of the recovery, the net carried amount of USD 1.

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Current investments are valued at lower of cost and fair value. Capital Reserve Note 5.

ONGC- Sustainability Reports

In view of the perceived uncertainties in obtaining the refund at this stage, the provision made in the books as above has been retained and netted off against the amount recoverable as above in the financial statements for the year ended 31st March, As a result, 2011-21 income of 31, Previous Year – 1, Sulphur is valued at net realisable value.

Movement in Provisions Others For Court cases, arbitration and others, where the timing of expected outflows is upon settlement of the proceedings: Advance payment of Wealth tax Previous year figures have been regrouped wherever necessary to conform to current year’s classification.

The lease commitments are carried under long-term liabilities exclusive of interest. The difference between the actual results and estimates are recognized in the period in which the results are known or materialized. Company has taken a political risk insurance policy for 12th and 13th installments.

Foreign Exchange Transactions q.