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OIL AND NATURAL GAS CORPORATION LTD. - Oil & Natural Gas Corporation Ltd reply to clarification sought by the exchange
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16 Mar 2015
The Exchange had sought clarification from Oil &amp; Natural Gas Corporation Ltd with respect to news article appearing in Financial Chronicle on March 12, 2015 titled &quot;OVL in talks to buy stake in two Siberia oilfields&quot;&lt;BR&gt; &lt;BR&gt;Oil &amp; Natural Gas Corporation Ltd replied stating &quot;ONGC Videsh, the overseas arm and 100% subsidiary of Oil and Natural Gas Corporation Limited (ONGC), is regularly in the process of scouting for E&amp;P opportunities worldwide and, as a part of these efforts, is routinely engaged with many overseas E&amp;P companies, including Russian companies. &lt;BR&gt;&lt;BR&gt;Accordingly, ONGC Videsh was in preliminary discussions with a Russian Oil Company for possible acquisition of Participating Interest in two Siberian oil fields. &lt;BR&gt;&lt;BR&gt;Intimation to Stock Exchanges in terms of Clause 36 of the Listing Agreement would be submitted upon finalization of the transactions, if any. At this stage, media has picked up the news from statement of the Hon. Minister in the Parliament in reply to a parliament question.&quot;
View all announcements for OIL AND NATURAL GAS CORPORATION LTD. Source: BSE India