ONGC Videsh Ltd, the overseas arm of Oil and Natural Gas Corp, has retained services of Trafigura Ltd of London to trade its share of 60,000 barrels per day of crude oil from the Greater Nile Oil Project in Sudan in the international markets.
ONGC Videsh Ltd, overseas arm of state-run Oil and Natural Gas Corporation, is likely to bid over $300 million to buy Caspian Energy Group LLP's interest in an Azerbaijan oil field.
Oil and Natural Gas Corp, Reliance Industries and Indian Oil Corp, the nation's biggest companies, are coming together for the first time, to bid jointly for a vast oilfield in Venezuela, which will require an investment of $16-18 billion.
Indian Oil Corporation is mulling setting up a wholly-owned overseas investment vehicle if the government rejects the plan to create a second incarnation of ONGC Videsh Ltd with the participation of all state-owned oil firms.
India is negotiating a term contract with the new administration in Baghdad to import Iraqi crude even as it hopes to keep the exploration acreage awarded to it by the Saddam Hussein regime.
ONGC Videsh Ltd, the overseas investment arm of India's largest oil producer Oil and Natural Gas Corporation, is planning to bid for a "few" of the 19 exploration blocks being offered under two bidding rounds by Iraq, which has the world's third-largest oil reserves.
Petroleum Minister Ram Naik said on Thursday that he expected a new government in Iraq to honour any oil exploration contracts held by Indian companies.
ONGC Videsh Ltd, the overseas arm of state-run Oil and Natural Gas Corporation, will make an offer to acquire shares of the United Kingdom-listed Imperial Energy Corp Plc at 12.50 pounds a share by December 9.
ONGC Videsh Ltd, the overseas arm of state-owned Oil and Natural Gas Corporation, has signed the production sharing contracts with Vietnam Oil and Gas Corporation (PetroVietnam) for two offshore blocks in Phu Khanh Basin.
India on Wednesday stepped-up diplomatic initiative to secure an oil field in Sudan, by asking Malaysia to support ONGC Videsh Ltd in picking up 25 per cent stake in the Greater Nile Oil Project.\n\n\n\n
ONGC Videsh Ltd, the overseas arm of India's largest oil producer, Oil and Natural Gas Corporation, is holding talks with the Iranian government for exploring an oil block in the northern part of the country. Chinese company Sinopec is also believed to be in the race for the block. This could not be independently confirmed. The block is near the Caspian Sea.
ONGC Videsh Ltd, a wholly-owned subsidiary of Oil and Natural Gas Corporation, has put in a bid to buy stake in a discovered oil block in Angola, after a consortium of two Chinese companies has already reported to have bid $1.5 billion last month, confirmed a top official of OVL on condition of anonymity.
India hopes to conclude the acquisition of UK-listed Imperial Energy in 4-5 weeks, Petroleum Minister Murli Deora said on Friday. OVL is now awaiting approval of Kremlin to takeover the company, which has assets in Tomsk region of the western Siberia in Russia.
The value of the stake is not immediately known but ONGC Videsh Ltd (OVL) -- the overseas investment arm of Oil and Natural Gas Corporation -- is likely to pay an initial $300 million for drilling operations. Russian company Rosneft, which owns 70 per cent in the project, will be offloading its stake to OVL if the deal goes through. The remaining 30 per cent stake is held by China National Petroleum Corporation.
Russia has promised India four to five million tonnes of crude oil annually from its Far East Siberian oil fields if it fails to accommodate ONGC Videsh Ltd in Yuganskneftegaz, the core asset of Yukos that has been acquired by Russian state-owned Ros
The government on Friday gave its nod to ONGC Videsh Ltd, the overseas arm of state-run Oil and Natural Gas Corp, to acquire Royal Dutch/Shell's 33 per cent stake in a deepsea gas field off Egypt.
ONGC Videsh Ltd, the overseas arm of Oil and Natural Gas Corporation, has made a big natural gas discovery in Iran with in-place reserves being estimated at around 10 trillion cubic feet.
ONGC Videsh Ltd, the overseas arm of Oil and Natural Gas Corp, and its partner IPR Red Sea Inc have made a significant oil discovery in offshore Egypt.
Myanmar is likely to award at least one offshore oil and gas exploration block and refinery revamp project to Indian firms even as New Delhi is exploring the possibility of piping
India will make a strong plea for firms getting a stake in future Sakhalin projects in Far East Russia when Russian President Vladimir Putin visits New Delhi later this month.
Malaysian oil firm Petronas has cleared the way for ONGC Videsh Ltd's acquisition of stake in two onshore oil blocks in Sudan by waiving off its first right to buyout Austrian firm OMV's stake.
The Cabinet Committee on Economic Affairs on Saturday cleared ONGC Videsh Ltd's proposal to acquire stake in two oil blocks in Sudan.
ONGC Videsh Ltd, the overseas arm of Oil and Natural Gas Corporation, is talking to China National Petroleum Corporation, the Chinese national oil company, for a stake in the recently discovered Mulut Basin oilfield in Sudan.
ONGC Videsh Ltd, the overseas arm of the Oil and Natural Gas Corporation, has proposed to buy the entire gas production from Sakhalin-I field in Russia and import the same in the form of LNG to India.
India will ship its share of crude oil from Russian oilfield Sakhalin-I in October-December, Minister of State for Petroleum and Natural Gas Dinsha Patel said on Thursday.
India is seeking over 3 million tonnes of crude oil from Iraq this fiscal even as it hopes that the interim US-led regime in Baghdad honours award of an oil exploration block to state-run ONGC Videsh Ltd by the previous Saddam Hussein regime.\n\n\n\n
ONGC Videsh Ltd, the overseas arm of state-owned Oil and Natural Gas Corp, will buy a 15 per cent stake in Brazilian oil field from Royal Dutch/Shell.
ONGC Videsh Ltd, the overseas arm of state-owned Oil and Natural Gas Corp, will acquire US energy firm ExxonMobil's 30 per cent stake
D K Sarraf replaces Vasudeva, who turned 60 on Tuesday and is due to superannuate on Friday.
ONGC Videsh Ltd and China National Petroleum Corp have for the first time ever made a joint bid for acquiring an oilfield abroad.
India will receive its first shipment of oil from Russia's Sakhalin-I fields, where it is investing more than $2.7-billion, from the second quarter of 2006.
ONGC Videsh Ltd, the overseas arm of state-owned Oil and Natural Gas Corp, has acquired a 30 per cent stake in seven oil and gas blocks in Cuba, which hold more than 4 billion barrels of oil reserves.
ONGC Videsh Ltd, the international arm of the state-owned Oil and Natural Gas Corporation, will take 25 per cent stake in two deep sea oil and gas exploration blocks in Nigeria.\n
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