India's Biggest Oil Explorer Doubles Down Against Low Crude

  • ONGC approves $5 billion for project off India's east coast
  • Chairman says energy slump reduces cost of upstream projects

As the biggest oil crash in a generation prompts producers from Royal Dutch Shell Plc to ConocoPhillips to cancel or delay almost $400 billion in projects, India’s state-run explorer is sticking with plans to keep drilling.

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