More fuel for the Opposition's ire as the Comptroller and Auditor General (CAG) report on state-owned Oil & Natural Gas Corp says that it did not place desired emphasis on discovering oil and gas and was tardy in monetizing its discoveries.

CAG's report on Hydrocarbon Exploration Efforts of ONGC, which was tabled in Parliament today, expressed concern at the company's lack of adequate efforts and results in new fields and wanted the Oil Ministry to reset annual targets set out in MoU that the firm signs with the government.

"ONGC did not place the desired emphasis on its core exploration activity. Coupled with the low priority on exploration are the anomalies in MoU target setting and reporting as well as performance measurement which can potentially mislead the stakeholder," it said. CAG said ONGC showcases a healthy reserve replacement ratio while production continues to remain static.