India's globetrotter
OVL has been spreading its international wings, a strategy that has so far yielded mixed results
Energy-hungry India, unblessed with the hydrocarbon riches of other developing economies and yet to see the fruits of a campaign to rejuvenate its own upstream, is looking further afield to secure its energy supplies. India imports more than 82% of the crude oil it needs—around 3.78m barrels a day, according to the International Energy Agency. Production is just under 0.9m b/d. So the imperative is plain. Undeterred by weak global oil prices, ONGC Videsh Limited (OVL), the overseas investment arm of the government controlled Oil and Natural Gas Corporation (ONGC), is leading the charge. This fiscal year, it will spend $150m in exploration, drilling more wells in Colombia, where it just made
Also in this section
27 February 2026
LNG would serve as a backup supply source as domestic gas declines and the country’s energy system comes under stress during periods of low hydropower output and high energy demand
27 February 2026
The assumption that oil markets will re-route and work around sanctions is being tested, and it is the physical infrastructure that is acting as the constraint
27 February 2026
The 25th WPC Energy Congress to take place in tandem as part of a coordinated week of high-level ministerial, institutional and industry engagements
27 February 2026
The deepwater sector must be brave by fast-tracking projects and making progress to seize huge offshore opportunities and not become bogged down by capacity constraints and consolidation
