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ONGC Videsh News

20 Jun 2019

OVL, partners agree to invest $20 bn in Mozambique LNG project

The project will initially consist of two LNG trains with a total nameplate capacity of 12.88 million tonnes per annum. Feedgas will come from the Golfinho/Atum field in Offshore Area 1.

20 Dec 2018

ONGC Board to consider OVL listing but IPO ruled out in near future

The Oil and Natural Gas Corp (ONGC) board is meeting on December 20 and 21 to consider among other things a share buyback.

22 Sep 2017

ONGC sells Nov Sokol crude at highest premium in 2017

The 700,000-barrel cargo was sold to Vitol at a premium of $4.50 a barrel above Dubai quotes.

06 Jul 2017

India-Vietnam discuss China's aggressive posturing in Asia

After the meeting with Swaraj, the MEA issued a statement saying both sides reiterated their support for peace, stability, security, safety, freedom of navigation and over flight.

05 Oct 2016

Government clears ONG's extra 11% stake buy in Russia's Vankor fields

The cabinet has approved ONGC Videsh`s purchase of an additional 11 percent stake in Russia`s Vankor oil fields from Rosneft for $930 million, raising the Indian firm`s stake in the project to 26 percent, a government statement said.

15 Sep 2016

ONGC Videsh to acquire 11% additional interest in East Siberia's Vankor Field

ONGC Videsh (and its wholly owned subsidiary ONGC Videsh Vankorneft Pte. Ltd., Singapore - OVVL) jointly signed definitive agreements with Rosneft, the national oil company of Russia for acquiring additional 11 percent shares in JSC Vankorneft, a company organised under the law of Russian Federation which is the owner of Vankor Field and North Vankor license.

10 Apr 2016

India links $20 billion investment in Tehran to favourable terms

Stepping up its energy ties with Iran, India has lined up USD 20 billion as investment in oil and gas as well as petrochemical and fertiliser projects in the Persian Gulf country subject to provision of concessional rights

09 Aug 2015

Profit making PSUs may be asked to submit IPO plans to govt

Profit-making unlisted PSUs and their subsidiaries may have to submit listing plans while signing annual performance pacts with the government, a move aimed at helping the Centre garner resources and unlocking the value of many state-owned firms.

Oil and Natural Gas Corporation

18 Jun 2015

ONGC Videsh gets parent backing for spending allowance hike

State-owned Oil and Natural Gas Corporation (ONGC) today said it supports its overseas investment arm's move to seek increase in spending allowance and sees more acquisition opportunities abroad.

31 May 2015

OVL qualified along with Chevron, Exxon for Mexico bid round

ONGC Videsh Ltd is among the 19 companies and seven groups to have pre-qualified to bid for Mexico's maiden offshore oil blocks auction.

28 May 2015

India eyes listing of ONGC's overseas investment arm: Source

The government wants to list ONGC Videsh, the overseas arm of top oil explorer Oil and Natural Gas Corp , a company executive said.

12 Apr 2015

ONGC's stake buy in Mozambique saw seller reap $1.5 bn profit

State-owned Oil and Natural Gas Corp's (ONGC) acquisition of 10 percent stake in a giant Mozambique gas field had helped the seller make a neat profit of USD 1.5 billion or over 62 percent of the purchase price.

05 Apr 2015

ONGC eyes Mexican oil and gas blocks

The company is pitched against the US majors ExxonMobile and Chevron, Anglo-Dutch firm Shell as well as national oil companies and Mexican players for 14 shallow water exploration blocks in the country's southern region.

Dharmendra Pradhan

17 Mar 2015

Oil diplomacy: Pradhan to visit Mozambique next month

Oil Minister Dharmendra Pradhan is likely to visit Mozambique next month to press the African nation to quickly ratify a law that will help Indian firms proceed with multi-billion dollar gas project.

09 Dec 2014

Chevron and ONGC Videsh join New Zealand oil, gas search

New Zealand awarded 15 oil and gas exploration licences on Tuesday, with U.S. giant Chevron and India`s ONGC Videsh joining the hunt in the South Pacific country for the first time.

05 Oct 2014

Russia's Rosneft offers OVL stake in Vankor oilfield

Rosneft has made a formal offer to sell 10 percent stake in the strategic oilfield in Siberia to ONGC Videsh Ltd, the overseas arm of the state-owned explorer.

05 Aug 2014

ONGC Videsh most internationalised Indian company: Survey

The firm has topped the list of 20 most internationalised Indian companies, prepared by Indian School of Business (ISB).

08 Jul 2014

ONGC makes largest overseas bond sale; raises $2.2 bn

The issue involved USD 1.5 billion of dollar money and 525 million in euros (USD 714 million at current exchange rate), merchant bankers said.

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