ONGC Videsh Ltd, the overseas investment arm of state-owned Oil and Natural Gas Corp (ONGC), today reported a 29 per cent jump in its net profit for the fiscal year ending March 31, 2018 as it produced more crude oil and natural gas.
India’s Petronet LNG Ltd wants to partner with ONGC Videsh Ltd (OVL), the overseas arm of India’s biggest explorer Oil and Natural Gas Corp Ltd, to pick up a stake in an upcoming exploration and liquefied natural gas (LNG) project in Qatar, a company official said.
ONGC Videsh Ltd, Oil India Ltd and their partners have received the Mozambique governments nod for bringing to production a giant gas field in the prolific Rovuma Area-1, off the coast of the African nation.
ONGC Videsh Ltd has opted to invest in developing a giant gas field in the Persian Gulf, for which a revised cost is being worked out, an unnamed official said.
With negotiations stuck over pricing of natural gas, ONGC Videsh Ltd has offered to invest $6.2 billion in development of Iran’s giant Farzad-B gas field in the Persian Gulf while leaving the marketing of gas to Tehran.
With negotiations stuck over pricing of natural gas, ONGC Videsh Ltd has offered to invest USD 6.2 billion in development of Iran’s giant Farzad-B gas field in the Persian Gulf while leaving the marketing of gas to Tehran.
ONGC Videsh Ltd and its partners have acquired a 10 per cent stake in a large offshore oilfield in Abu Dhabi for USD 600 million, the first time any Indian company has set foot in the oil-rich UAE.
Two joint ventures of steel baron Lakshmi Niwas Mittal with ONGC Videsh Ltd are shutting shop, documents filed with the Registrar of Companies (RoC) show.
India’s biggest oil explorer plans to snatch up producing assets to reach its goal of raising overseas output by more than half in about three years, a faster route than drilling for new reserves.
China and India are each targeting a share of Abu Dhabi’s largest offshore oil fields as the Persian Gulf producer seeks partners to boost output and ensure exports of its oil to two of the world’s most promising markets.