ONGC Videsh Limited acquires, explores, develops, produces, transports, and exports oil and gas in India and internationally. The company participates in 33 projects, including 13 producing projects, 14 exploration blocks, 4 discovered/development blocks, and 2 pipeline projects in 16 countries comprising Vietnam, Iraq, Libya, Syria, Sudan, South Sudan, Iran, Mozambique, Brazil, Venezuela, Russia, Myanmar, Colombia, Bangladesh, Kazakhstan, and Azerbaijan. As of March 31, 2014, it had total oil and gas reserves of 637 million tonne oil equivalent. The company was formerly known as Hydrocarbons India Private Limited and changed its name to ONGC Videsh Limited in June 1989. ONGC Videsh Limited ...
26, Kasturba Gandhi Marg
New Delhi, 110001
Founded in 1965
ONGC Videsh Backed By ONGC Considers Acquisitions
Jun 19 15
Oil and Natural Gas Corp. Ltd. said it supports its overseas investment arm ONGC Videsh Limited’s move to seek increase in spending allowance and sees more acquisition opportunities abroad. "We support ONGC Videsh move to seek increase in spending allowance, which should be more than USD 1 billion. We see there is lot of opportunities for acquisitions. ONGC Videsh had sought greater financial autonomy to decide on investments of up to USD 1 billion without government nod to speed up acquisition of overseas oil and gas fields. As a corporate philosophy, we like ONGC Videsh to raise funds through debts.” ONGC Chairman and Managing Director D K Sarraf said in an interview after the 107th Annual General Meeting of Indian Merchants Chamber here.
Not A suitable Time To List ONGC Videsh
Jun 18 15
Listing ONGC Videsh Limited at a time when oil prices have dropped to nearly half in a year will restrict its valuation and hamper business prospects, its Managing Director has said, opposing a government proposal to list the overseas arm of state-run Oil and Natural Gas Corporation. "Ownership structure will change.
ONGC Videsh Limited Mulls Sale Of Assets
Jun 18 15
ONGC Videsh Limited is seeking sale of assets. Videsh Limited, said,” The company may look at selling strategic stake in some of its exploration assets as and when required. We have a mandate to bring in as much equity oil and gas as possible. So as a policy we will not sell production assets but if a strategic partner is required in some exploratory assets we will bring them on board as and when required.”