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New Delhi, February 27, 2014
\"A non-issue has been made a big issue. Everything has been done in a transparent manner. Nothing has been hidden,\" Oil Minister M Veerappa Moily said in his first comments after government appointed Dinesh K Sarraf as the new head of ONGC, the nation's most profitable firm.

New Delhi, February 26, 2014
The Appointments Committee of the Cabinet (ACC) approved appointment of Sarraf, who at present is Managing Director of ONGC's overseas arm, ONGC Videsh (OVL).

New Delhi, February 7, 2014
At present, OVL is studying the preliminary data provided by Russian state oil major Rosneft for identifying the preferred blocks for participation.

Mail Today Bureau
Greater Noida, January 13, 2014
Oil and Natural Gas Corporation and Oil India Ltd are likely to buy the 10-per cent government stake in downstream Indian Oil Corp to resolve the impasse between the petroleum and finance ministries over offloading the shares in the stock market when the price of the scrip is very low.

New Delhi, January 8, 2014
ONGC Videsh Ltd (OVL) and Oil India Ltd (OIL) have completed the acquisition of Videocon Group's 10 per cent stake in a giant Mozambique gas field for $2.475 billion, the companies said.

New Delhi, December 31, 2013
ONGC Videsh Ltd, the overseas arm of state-owned Oil & Natural Gas Corp (ONGC), has completed acquisition of an additional 12 per cent stake in a Brazilian oilfield for $561 million after blocking a Chinese entry.

New Delhi, December 26, 2013
Partial deregulation of diesel prices and the government's nod for doubling natural gas prices from April 2014 were the highlights of India's oil economy in 2013, as the sector seeks a new thrust in the new year for the production of hydrocarbons.

Mail Today Bureau
New Delhi, December 24, 2013
India on Monday evacuated 11 executives of state-owned Oil and Natural Gas Corp oration (ONGC) from its oil projects in Sudan after violence escalated on December 15, which claimed 500 lives, including two Indian soldiers working as United Nations peacekeepers.

New Delhi, December 6, 2013
Cairn India Ltd has bid for one oil and gas exploration block in Sri Lanka while ONGC Videsh did not bid for any of the 13 blocks on offer in that country mainly due to poor prospectivity.

New Delhi, December 3, 2013
GAIL (India) Ltd, the country'ss biggest natural gas distributor, said it is in talks to acquire Ophir Energy's 10 per cent stake in gas blocks in Tanzania.

Anilesh S. Mahajan
December 5, 2013
The lifting of the European Union restrictions on insurance opens the door for Indian refiners to increase imports to contract levels without breaching sanctions.

Mail Today Bureau
New Delhi, November 25, 2013
Chevron has called for expression of interests from international firms willing to farm in (or buy stake) in the $4.3-billion block. OVL is keen to take part or whole of the stake in the block.

New Delhi, November 21, 2013
The five blocks or areas-17, 41, 43, 10&11-1 and 102 and 106/10 lie outside the territory claimed by China in the South China Sea.

New Delhi, November 13, 2013
ONGC Videsh (OVL) is unlisted and does not release quarterly earnings. Crude oil production rose 19 per cent to 2.707 million tons while gas output was up 16.34 per cent to 1.41 billion cubic meters in H1.

New Delhi, November 11, 2013
Meanwhile, the month of October witnessed 34 M&A transactions worth $1.53 billion, down 36 per cent from the same period of last year when the 10th month of the year witnessed 55 deals worth $2.4 billion.

New Delhi, October 23, 2013
ONGC Videsh Ltd, the overseas arm of state-owned Oil and Natural Gas Corp, pulled out of an auction of $184 billion oilfield in Brazil after it could not stitch an alliance to bid for the giant project.

New Delhi, October 21, 2013
ONGC Videsh (OVL) and Oil India will split equally the 10 per cent stake they acquired in a giant Mozambique gas field from Videocon Group for $2.475 billion.

New Delhi, October 19, 2013
ONGC Videsh Ltd and Oil India Ltd (OIL) have won two shallow water oil and gas blocks in Bangladesh, Oil Minister M Veerappa Moily said.

New Delhi, October 14, 2013
OVL, which had a 15 per cent stake in block BC-10 along with Royal Dutch Shell, exercised a pre-emption right to block China's Sinochem Group from buying a 35 per cent interest in the oilfield from Petrobras of Brazil.

New Delhi, October 4, 2013
The government approved acquisition of 20 per cent stake by ONGC Videsh (OVL) and Oil India (OIL) in a giant Mozambique gas field that is estimated to hold as much as 65 trillion cubic feet of gas.

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