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Ongc Videsh Ltd

ONGC Videsh's focus on stakes in oil, gas assets amid energy transition

ONGC Videsh, the overseas investment arm of the country's top exploration company Oil and Natural Gas Corp has stake in 32 oil and gas projects in 15 countries

ONGC Videsh's focus on stakes in oil, gas assets amid energy transition
Updated On : 10 Sep 2024 | 9:49 PM IST

ONGC Videsh in talks with Russia, US to regain control of projects

Sought special licence from US for Venezuela operations, rouble payments to Russia for Sakhalin

ONGC Videsh in talks with Russia, US to regain control of projects
Updated On : 30 Aug 2024 | 10:19 PM IST

India Energy Week 2024: OVL likely to lift more crude from Venezuela

Discussions underway to inject more investments into both of OVL's projects in Venezuela

India Energy Week 2024: OVL likely to lift more crude from Venezuela
Updated On : 08 Feb 2024 | 11:33 PM IST

ONGC Videsh to raise upto Rs 5,000 cr via debentures to fund capex, assets

The operational linkages are driven by companies operating in the same segment, with OVL being essential to ONGC for providing ownership in international oil and gas-producing assets

ONGC Videsh to raise upto Rs 5,000 cr via debentures to fund capex, assets
Updated On : 24 Dec 2023 | 7:57 PM IST

ONGC to start oil production from $5bn deep-water project this month

State-controlled Oil and Natural Gas Corporation (ONGC) will kick off oil production from its much-delayed flagship deepsea project in Krishna Godavari basin in Bay of Bengal this month, helping reverse years of decline in output, a senior company official said. "We plan to start producing from the Cluster-2 project in KG-DWN-98/2 block this month and slowly ramp up," ONGC Director (Production) Pankaj Kumar told PTI here. A floating production unit, called FPSO, which will be used to produce oil, is already in the block. After several missed deadlines, ONGC has told Shapoorji Pallonji Oil & Gas (SPOG) that its floating production, storage and offloading vessel (FPSO) Armada Sterling-V should prepare to receive the first oil this month. Oil production from Cluster-2 should have begun by November 2021, but was delayed because of the pandemic. Kumar said ONGC plans to start producing from 3 to 4 wells initially and slowly connect others. "Initial production could be 8,000 to 9,000 ...

ONGC to start oil production from $5bn deep-water project this month
Updated On : 13 Nov 2023 | 10:52 PM IST

ONGC to invest up to Rs 2 trillion by 2038 to meet net-zero goals

Production timeline from ONGC Videsh Limited assets in Colombia and Mozambique remain on track

ONGC to invest up to Rs 2 trillion by 2038 to meet net-zero goals
Updated On : 29 Aug 2023 | 9:33 PM IST

ONGC to get dividend from Russian field; repatriation of income an issue

PSUs have found it challenging to repatriate their dividend incomes from some other Russian oil and gas fields as well, thanks to the Western sanctions

ONGC to get dividend from Russian field; repatriation of income an issue
Updated On : 10 May 2023 | 9:26 AM IST

ONGC Videsh retakes 20% stake in Sakhalin-1 oil and gas fields of Russia

ONGC Videsh Ltd, the overseas arm of state-owned Oil and Natural Gas Corporation (ONGC), has re-taken a 20 per cent stake in the Sakhalin-1 oil and gas fields in the far east region of Russia, an official said on Monday. Russian President Vladimir Putin in October last year disbanded Exxon Neftegaz - a regional subsidiary of US super major ExxonMobil - as operator of the Sakhalin-1 and transferred the project and all of its assets and equipment to a new operator. The other former foreign shareholders in the project - Japan's Sodeco consortium and ONGC Videsh - were asked to apply to the Russian government to regain their shareholdings in the project. OVL applied and has been given the same shareholding as it had previously, the official said. Production from Sakhalin-1 stopped in April 2022 after Exxon Neftegaz declared force majeure at the project in response to international sanctions imposed on Russia following its invasion of Ukraine. Moscow assigned the Sakhalin-1 project and

ONGC Videsh retakes 20% stake in Sakhalin-1 oil and gas fields of Russia
Updated On : 10 Jan 2023 | 12:40 AM IST

ONGC Videsh set to retake its 20% stake in Russia's Sakhalin-1 oil fields

ONGC Videsh Ltd, the overseas arm of state-owned Oil and Natural Gas Corporation (ONGC), has submitted an application to Russian authorities to retake a 20 per cent stake in the Sakhalin-1 oil and gas fields in the far east region of the country, the company said. Russian President Vladimir Putin last month disbanded Exxon Neftegaz - a regional subsidiary of US super major ExxonMobil - as operator of the Sakhalin-1 and transferred the project and all of its assets and equipment to a new operator. The other former foreign shareholders in the project - Japan's Sodeco consortium and ONGC Videsh - have to apply to the Russian government to regain their shareholdings in the project. "ONGC Videsh Board in its meeting held on October 18, 2022, has approved submission of its consent to claim the company's right in Sakhalin-1," ONGC said in its notes to a stock exchange filing on July-September quarter earnings. It "expects retention of its interest in the project and is not expecting any .

ONGC Videsh set to retake its 20% stake in Russia's Sakhalin-1 oil fields
Updated On : 15 Nov 2022 | 7:25 PM IST

ONGC Videsh making a proposal to retake 20% stake in Russia's Sakhalin-1

ONGC Videsh Ltd, the overseas arm of state-owned Oil and Natural Gas Corporation (ONGC), is making a proposal to retake 20 per cent stake in Russia's Sakhalin-1 oil and gas project in the far east, sources said. Russian President Vladimir Putin earlier this month disbanded Exxon Neftegaz - a regional subsidiary of US supermajor ExxonMobil - as operator of the Sakhalin-1 and transferred the project and all of its assets and equipment to a new operator. The other former foreign shareholders in the project - Japan's Sodeco consortium and ONGC Videsh - have to apply to the Russian government to regain their shareholdings in the project. OVL is in the process of applying to regain the 20 per cent stake it held in the project, three sources aware of the matter said. "We want to retain the shareholding and will do all that the local law requires us to do," a source said. Sakhalin-1 is OVL's cash cow and without the project, the company will be a loss-making entity, another source ...

ONGC Videsh making a proposal to retake 20% stake in Russia's Sakhalin-1
Updated On : 18 Oct 2022 | 5:13 PM IST

Consortium of Indian oil companies to acquire 10% stake in UAE's ADNOC

The consortium is led by ONGC Videsh Ltd (OVL) and includes companies like Indian Oil Corporation Ltd (IOCL), Bharat PetroResources Ltd (BPRL) and Oil India Ltd (OIL)

Consortium of Indian oil companies to acquire 10% stake in UAE's ADNOC
Updated On : 14 Oct 2022 | 12:34 PM IST

ONGC Videsh to invest $1 billion in offshore block held by Petrobras

Brazil's Petroleo Brasileiro SA (Petrobras) owns a 75 per cent stake in the block and the rest 25 per cent is held by OVL, it will raise its stake in the block

ONGC Videsh to invest $1 billion in offshore block held by Petrobras
Updated On : 06 Oct 2022 | 2:28 PM IST

Rajarshi Gupta takes over as Managing Director of ONGC Videsh

Rajarshi Gupta has taken over as Managing Director of ONGC Videsh Ltd (OVL), the overseas investment arm of state-owned Oil and Natural Gas Corporation (ONGC). He replaces Alok Gupta who superannuated last month. "Rajarshi Gupta has more than 33 years of wide-ranging experience in supervisory, managerial and strategic planning capacities in domestic and international operations of ONGC and ONGC Videsh," the company said in a statement adding he took over on July 19. Prior to this, he was Executive Director - Chief of Corporate Strategy & Planning in ONGC. "He has a keen business sense of the oil and gas industry, commercial and financial acumen, with mergers and acquisitions, strategic planning, and man management as his core strengths," the statement said. A mechanical engineer from NIT Rourkela and a Gold Medallist in MBA (International Business) from the Indian Institute of Foreign Trade, he spent 13 years in ONGC Videsh during 2006-2019, working across the globe in diverse ...

Rajarshi Gupta takes over as Managing Director of ONGC Videsh
Updated On : 21 Jul 2022 | 1:25 AM IST

Oil movement from Sakhalin-1 disrupted due to sanctions against Russia: OVL

Exxon has announced its exit from the project following Russia's invasion of Ukraine and has reportedly begun withdrawing expatriates from the project.

Oil movement from Sakhalin-1 disrupted due to sanctions against Russia: OVL
Updated On : 13 Jun 2022 | 11:58 PM IST

How much value Russia is adding to ONGC subsidiary OVL's product basket

ONGC subsidiary OVL derives significant value from its oilfields in that country

How much value Russia is adding to ONGC subsidiary OVL's product basket
Updated On : 03 May 2022 | 6:10 AM IST

ONGC sells Russia's Sokol oil to Hindustan Petroleum, Bharat Petroleum: Rpt

Indian companies are snapping up Russian oil as it is available at a deep discount after some companies and countries shunned purchases from Moscow due to sanctions against Russia

ONGC sells Russia's Sokol oil to Hindustan Petroleum, Bharat Petroleum: Rpt
Updated On : 29 Mar 2022 | 8:05 AM IST

Russia's Sakhalin 1 partners to decide on ops in next few weeks: ONGC

ONGC Videsh said it and its partners will decide on how to keep operating the Sakhalin 1 project over next few weeks, after Exxon Mobil's decision to exit Russia's oil and gas sector

Russia's Sakhalin 1 partners to decide on ops in next few weeks: ONGC
Updated On : 02 Mar 2022 | 8:17 PM IST

Exxon's exit from Russia amid Ukraine war puts ONGC Videsh in a fix

Exxon Mobil Corp's decision to exit Russia has put India's flagship overseas firm ONGC Videsh in a fix as it is a partner in the global energy giant-operated Sakhalin-1 oil fields in Far East Russia

Exxon's exit from Russia amid Ukraine war puts ONGC Videsh in a fix
Updated On : 02 Mar 2022 | 6:35 PM IST

OVL on an oil slick, struggles with geopolitical and domestic challenges

Covid-19 has added to these issues. It has not only impacted the demand for fuel but also made the acquisition process slower.

OVL on an oil slick, struggles with geopolitical and domestic challenges
Updated On : 26 Jun 2021 | 6:10 AM IST

Revamp not to impact biz; in talks with global cos for large fields: ONGC

ONGC plans to acquire much larger acreage via open acreage licensing policy

Revamp not to impact biz; in talks with global cos for large fields: ONGC
Updated On : 28 Apr 2021 | 11:13 PM IST