Oil and Natural Gas Corporation unlikely to buy overseas oil, gas assets at current prices
NEW DELHI: India’s top explorer Oil and Natural Gas Corp is unlikely to buy overseas oil and gas assets at current prices of about $45 a barrel, its finance chief said on Wednesday.
Its overseas investment arm ONGC Videsh (OVL) has already seen a decline in profit, as some of its acquisitions, such as Imperial Energy in Russia, were made when global oil prices were above $100 a barrel.
