Ovl
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")
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")
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")
Three years after entry, OVL, partners relinquish Israeli oil block
Three years after its much-acclaimed maiden entry into Israeli water, an ONGC Videsh (OVL)-led Indian consortium has relinquished the oil block due to "very poor" hydrocarbon prospectivity.
 "Three years after entry, OVL, partners relinquish Israeli oil block")
OVL in talks to buy stake in Russia's Vostok, Arctic LNG-2 project
India's top energy companies including ONGC Videsh Ltd is discussing buying a stake in Russia's massive Vostok oil project as well as a planned liquefied gas project Arctic LNG-2, Hardeep Puri said
ONGC Videsh plans to raise $700 million from overseas investors
The company plans to retire old loans
 "ONGC Videsh plans to raise $700 million from overseas investors")
Fitch downgrades ONGC, OVL and ONGC Videsh Vankorneft ratings to BBB-
This makes it harder for ONGC's two arms to raise money for financing their projects. OVL is currently said to be in the process of raising $500 mn for repaying existing debt
 "Fitch downgrades ONGC, OVL and ONGC Videsh Vankorneft ratings to BBB-")
ONGC Videsh signs agreements to acquire FAR stake in Senegal blocks
OVL will acquire 13.6667 per cent participating interest for an upfront consideration of $45 million and contingent payments payable annually
India may remain invested in Farzad-B without development rights: Report
Farzad-B, which was discovered by OVL in the Farsi block about 10 years ago, had in-place gas reserve of 21.7 trillion cubic feet, of which 12.5 Tcf is believed to be recoverable
 "India may remain invested in Farzad-B without development rights: Report")
ONGC overseas arm seeks 2-year extension to explore Vietnamese oil block
Officials said OVL has applied for a sixth extension to explore Block-128, the licence for which was valid till June 15, 2019
OVL, partners may buy 49% stake in Vankor oilfields during Modi-Putin meet
Indian firms have been in dialogue with Russia since 2017 for a possible stake in the oilfields that will consolidate their presence in the energy-rich Arctic region
ONGC Videsh makes second oil discovery in Colombia; to drill more wells
The company now plans to drill more exploratory wells to chase this important Cretaceous clastic corridor in immediate future
 "ONGC Videsh makes second oil discovery in Colombia; to drill more wells")
ONGC Videsh to exit Kazak's profitless Satpayev oil block
Satpayev was OVL's entry into hydrocarbon-rich Kazakhstan
 "ONGC Videsh to exit Kazak's profitless Satpayev oil block")
ONGC Videsh drops plan to build $5-bn LNG export facility in Iran
OVL has now agreed to do just the upstream field development part, leaving the marketing of the fuel to Iran
 "ONGC Videsh drops plan to build $5-bn LNG export facility in Iran")
Sudan rejects licence extension to OVL; seeks higher royalties and taxes
The licence for Block 2B expired last November and an automatic 5-year extension is available
 "Sudan rejects licence extension to OVL; seeks higher royalties and taxes")
ONGC Videsh qualifies to bid for Iran oil, gas projects
US oil services provider Schlumberger Ltd was also among those identified, according to NIOC website
 "ONGC Videsh qualifies to bid for Iran oil, gas projects")
OVL completes acquisition of 11% add'l stake in Vankor
The company signed a deal with Rosneft Oil Company to acquire additional 11% stake in the East Siberian field for $930 million on Oct 28
 "OVL completes acquisition of 11% add'l stake in Vankor")
OVL to raise $900 million bridge loan to finance Vankor buy
OVL, last week got government nod to raise its stake in Russia's second biggest oil field of Vankor to 26 per cent
OVL's stake buy in Vankor fields gets govt nod
Vankor is Rosneft's second largest field in terms of productions and accounts to 4 per cent of Russia's production
 "OVL's stake buy in Vankor fields gets govt nod")
OVL slapped with service tax demand of Rs 6,100 crore
ONGC Videsh Ltd has stakes in 37 oil and gas projects in 17 countries around the world
 "OVL slapped with service tax demand of Rs 6,100 crore")
