CEO INTERVIEW - Powering into the future

Oil and Natural Gas Corporation Ltd (ONGC) is a state-controlled Indian energy firm, and one of the country's largest companies. Set up in 1956, it contributes 77% of India's crude oil production and 81% of the country's natural gas production. ONGC is one of the world's most acquisitive oil firms, buying reserves in South America, Russia, the Middle East and Sudan, but in recent months it has lost ground to increasingly aggressive Chinese oil majors. Subir Raha, chairman and managing director of India's ONGC, sits down with Asiamoney to discuss the weather, takeovers and the price of oil.