Oil & Natural Gas Corp's profit before tax will take a hit of Rs 5000 crore in 2012-13 due to budget proposals to raise duties on oil production, and an increase in service and other taxes, its chairman said.

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Cairn to raise Barmer pipeline capacity - Cairn India on Monday said it has started work for increasing the capacity of its 670 kilometre pipeline in the Barmer region in Rajasthan, where it has country’s biggest onland oil and gas reserves.