Ongc Videsh

OVL FY19 net profit jumps 71% at Rs 1,682 on rise in oil production; strikes oil for second time in Colombian block

OVL holds a stake in 41 oil and gas assets in 20 countries spanning from Brazil to New Zealand.

Centre asks ONGC to list overseas investment arm OVL on bourses to help achieve govt disinvestment target

ONGC had helped the government meet its disinvestment target last fiscal when it bought a 51.11 percent stake in state-owned Hindustan Petroleum Corp Ltd (HPCL) for Rs 36,915 crore

High operating profit to help ONGC cut borrowings; free cash flow will improve financial flexibility: Moody's

ONGC increased its borrowings by about Rs 25,000 crore in January 2018, when it acquired a 51.11 percent stake in Hindustan Petroleum Corp Ltd for Rs 36,915 crore.

ONGC Videsh-led group picks up 10% stake in Abu Dhabi's Zakum oilfield for $600 mn; deal to help UAE expand foothold in Asia

ONGC Videsh is the foreign investment arm of ONGC. Other members of the consortium are Indian Oil Corp and Bharat Petro Resources Ltd, an upstream arm of refiner Bharat Petroleum Corp.

SAIL, BSNL, Air India together account for 41% of total public sector units' losses in FY16

Some common problems for losses in CPSEs include old and obsolete plant and machinery, outdated technology, low capacity utilization, excess manpower, weak marketing strategies, stiff competition, heavy interest burden, high input cost, resource crunch etc

Next US secretary of state Rex Tillerson had advised India to explore for oil globally

Exxon Mobil chief executive Rex Tillerson flew into balmy Goa a little over a decade ago, his giant aircraft carrying loads of Evian mineral water his office had advised him to drink during his maiden India visit

ONGC Videsh raises $1 bn via overseas bonds issuance to fund Vankor acquisition

The proceeds of the issue would go to refinance a $1.2 billion bridge loan the company had taken from a group of foreign banks to make payments for the $1.268 billion acquisition

India nudges Iran to award expedition rights of Farzad-B field to ONGC Videsh

Iran is reportedly unhappy with the $10 billion plan submitted by OVL, for development of the 12.5 trillion cubic feet reserves in Farzad-B field

ONGC Videsh to raise $900 mn bridge loan to finance Vankor buy

ONGC Videsh Ltd (OVL) will raise a bridge loan of close to USD 900 million overseas to fund acquisition of an additional 11 percent stake in Russia's Vankor oilfield.

ONGC Videsh's additional 11% Vankor stake buy gets Cabinet nod

The Union Cabinet today approved ONGC Videsh buying an additional 11 per cent stake in Russia's Vankor oil field for USD 930 million.