ONGC Videsh Ltd (OVL), the overseas subsidiary of state-run petroleum explorer Oil and Natural Gas Corporation (ONGC), today reported a 71 per cent jump in consolidated net profit for the financial year ended March 2019 at Rs 1,682 crore.
Tokyo Gas and Centrica LNG Company will be co-purchasing 2.6 million tonnes per annum (mtpa) of natural gas from ONGC Videsh-partnered Rovuma Offshore Area 1 project in Mozambique.
At a time when there is controversy surrounding the listing of ONGC Videsh Ltd (OVL), the fully-owned overseas arm of Oil and Natural Gas Corporation (ONGC), Union Petroleum Minister Dharmendra Pradhan has said there is no such proposal before his ministry.
ONGC Videsh’s (OVL) associated petroleum gas plant — slated to come up at its loss-making fields acquired from Imperial Energy in Russia’s Tomsk region — is facing delay and is likely to be on stream by the middle of this year, according to a company executive.
Venezuela’s state oil firm PDVSA has paid ONGC Videsh Ltd USD 32 million from crude oil it sold to Reliance IndustriesNSE 0.25 %, as the first step towards clearing nearly half a billion dollars of dues it owes to the state-owned firm.
The finance ministry has proposed an initial public offering for ONGC Videsh (OVL), a wholly owned subsidiary and overseas arm of Oil and Natural Gas Corporation Limited (ONGC), said people aware of the matter.
India’s ONGC Videsh has sold 700,000 barrels of Russian Sokol crude to Shell at a steady premium from previous deals, trade sources said on Friday
Indian oil company ONGC Videsh is looking at buying a stake in oil fields in Ecuador and may also participate in an upcoming tender for the Intercampos blocks, Ecuador’s oil minister Carlos Perez said on Wednesday.
Indian explorer ONGC Videsh has sold its April-loading Russian Sokol crude at a premium steady from the previous month, several trade sources said
Israel will award an exploration license to a consortium of Indian state firms led by ONGC Videsh in an auction of its offshore gas fields that saw tepid response from global companies.