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OVL to raise $1 billion to fund Azeri acquisition

ONGC Videsh Ltd, the overseas arm of state-owned Oil & Natural Gas Corp (ONGC), today said it aims to raise up to USD 1 billion through a dollar issue this month to fund its recent acquisition in Azerbaijan.

Cabinet Committee on Economic Affairs, ONGC Videsh,Azerbaijan

The Cabinet Committee on Economic Affairs (CCEA) Thursday approved ONGC Videsh Ltd's acquisition of stake in an Azerbaijan oilfield for USD 1.001 billion.

CCEA to consider approving OVL's $1 bn Azerbaijan acquisition

The Cabinet Committee on Economic Affairs (CCEA) is likely to consider tomorrow approving ONGC Videsh Ltd's USD 1 billion acquisition of a stake in an Azerbaijan oilfield.