Business ONGC to Govt: Waive cess, royalty as plummeting oil prices not enough to cover operating cost Updated : April 22, 2020 02:34 PM IST ONGC, sources said, has asked the government to abolish oil development cess if price realized by producers is less than USD 45 per barrel. Sources said the company wants the royalty charged by the central government to be waived for now. Subscribe to Moneycontrol PRO at just Rs.33/- per month for the first year. Use code SUPERPRO. Limited period offer. Available on Web and Android.