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India's ONGC set to benefit from Big Oil's spending cuts

The company expects exploration costs to fall by one-fifth as fees for rigs and vessels moderate

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The worst commodity slump in a generation has a silver lining for India's state-run energy explorer.

New Delhi

THE worst commodity slump in a generation has a silver lining for India's state-run energy explorer.

Oil & Natural Gas Corp predicts exploration costs will drop a fifth as fees for rigs and vessels moderate after businesses including BP plc and Royal Dutch Shell plc