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ONGC Videsh Ltd

24 Jun 2020

Cabinet approves Rs 909 crore OVL additional investment projects in Myanmar

ONGC Videsh Ltd. (OVL) has been associated with exploration and development of Shwe project in Myanmar since 2002.

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.

ONGC Videsh Ltd

04 Oct 2017

ONGC Videsh completes stake buy in Namibian oil block

Without disclosing the value of the deal, OVL in a statement said it has completed acquisition of 30 percent interest in the Namibian Petroleum Exploration License (PEL) 37, covering three blocks of 2112A, 2012B and 2113B.

02 May 2017

Sudan denies licence extension to OVL; seeks higher taxes

Sudan has denied India's ONGC Videsh Ltd an extension of licence to operate an oilfield as it sought higher royalties and taxes to make up for revenue lost due to drop in oil prices.

Indian Oil Corp

06 Apr 2017

Iran dismisses India's threat to cut oil imports

Iran has dismissed India's decision to cut oil imports from Tehran by a fifth over delay in award of a gas field and said it has other buyers.

31 Oct 2016

ONGC Videsh completes acquisition of 11% additional stake in Russian oil field Vankor

ONGC Videsh Ltd, the overseas arm of state-owned Oil and Natural Gas Corp, has completed the acquisition of additional 11 percent interest in Russia's Vankor oilfield, taking its total stake to 26 percent.

ONGC Videsh Ltd

11 Oct 2016

OVL to raise $900 mn bridge loan to finance Vankor buy

ONGC Videsh Ltd (OVL) will raise a bridge loan of close to USD 900 million overseas to fund acquisition of an additional 11 per cent stake in Russia's Vankor oilfield.

05 Oct 2016

ONGC Videsh gets govt nod to up stake in Russian oil field for $930 mn

ONGC Videsh Ltd (OVL) Wednesday got government nod to raise its stake in Russia's second biggest oil field of Vankor by 11 percent at an investment of USD 930 million.

20 Sep 2016

OVL slapped with service tax demand of Rs 6,100 crore

The Tax Department has slapped a service tax demand of over Rs 6,100 crore on the overseas arm of state-owned Oil and Natural Gas Corp (ONGC), a move that may potentially render its investments in oil and gas fields abroad infructuous.

25 Mar 2016

OVL gets Russian government nod for $1.268 billion Vankor deal

Russian government has approved ONGC Videsh Ltd's deal to buy 15 per cent in the country's second biggest oil field of Vankor from Rosneft for USD 1.268 billion

ONGC Videsh Ltd

16 Mar 2016

OVL, IOC consortium to buy Russian oil fields for $4.2 billion

ONGC Videsh Ltd (OVL) and a consortium led by Indian Oil Corp today signed agreements to buy stake in two Russian oilfields in Siberia for an estimated USD 4.2 billion (over Rs 28,253 crore)

17 Jan 2016

ONGC Videsh refinances $1.78 bn loan at lower coupon rates

In a first by a public sector firm, ONGC Videsh Ltd has refinanced a USD 1.775 billion loan at lower rates to save nearly USD 37 million in interest payout, besides extending the repayment tenure.

25 Dec 2015

OVL, Rosneft sign pact for Vankor oil field

The document was signed in the presence of the Russian President Vladimir Putin and Prime Minister Narendra Modi by OVL Managing Director Narendra K Verma and Rosneft Chairman of the Management Board Igor Sechin.

07 Dec 2015

ONGC Videsh close to winning $5-bn Farzab-B gas field rights

ONGC Videsh Ltd-led consortium is close to winning USD 5 billion rights to develop Iran's Farzad-B gas field and convert the gas produced from it into LNG for shipping to countries like India.

15 Sep 2015

ONGC Videsh submits $10 bn proposal to Iran for Farzad-B gas field

ONGC Videsh Ltd, the overseas arm of state-owned Oil and Natural Gas Corp, has submitted a USD 10 billion integrated proposal to Iran for developing the Farzad-B gas field in the Persian Gulf and shipping the gas to India.

06 Sep 2015

OVL reaps Rs 700-cr gain on Euro bonds issue

ONGC Videsh Ltd, the overseas arm of state explorer Oil and Natural Gas Corp (ONGC), has made a gain of about Rs 700 crore on a Euro loan it had raised to finance its Mozambique acquisition.

25 Aug 2015

OVL seeks exploration licence extension for Vietnam oil block

OVL has applied to the Vietnamese authorities for a third extension of the exploration licence for Block 128 to maintain India's strategic interest in the South China Sea, a company official said.

23 Aug 2015

OVL shortlisted for Mexican oil bid round

According to Mexico's National Hydrocarbons Commission, 14 bidders have been pre-qualified for the second phase of the Round One tender, the country's first licensing round in 88 years.

12 Jul 2015

OVL not to exit Vietnam block despite poor prospectivity

OVL has decided to seek a third extension of exploration licence for Block 128 to maintain India's strategic interest in the South China Sea, a top official said.

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.

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