In terms of reserves and production, ONGC Videsh is the second largest petroleum company of India, next only to its parent ONGC.ONGC Videsh produced about 27.3% of oil and 19.4% of oil and natural gas of India's domestic production in 2021-22.
India's Oil and Natural Gas Corp (ONGC.NS) plans to take a stake in the new Russian entity that will manage the Sakhalin 1 project in the far east as it seeks to retain a 20% share in the asset.
Considering purchasing additional stakes in Russian oil and gasoline fields. State-run companies such as ONGC Videsh Ltd have stakes in Russian oil and gas fields. But dividends from those assets are stuck because of a logjam in Russia’s banking channels and the country’s inability to pay in dollars amid US and EU sanctions. India's ONGC willing to wait to regain oil from Russian project. ONGC Videsh has since regained its 20% stake in the project and is in talks with Russian government officials and company shareholders to resume taking oil under a production-sharing arrangement.
| September 19, 2023 | India's ONGC willing to wait to regain oil from Russian project |
| September 14, 2023 | Indian oil firms want their $600 million stuck in Russia to be used for payments to Moscow |
| November 29, 2022 | ONGC retains 20% stake in Russia’s Sakhalin-1 |
| November 07, 2022 | India's ONGC applies to retain 20% in Russia's Sakhalin-1 |
| October 17, 2022 | India's ONGC eyes stake in Russian entity managing Sakhalin 1 -sources |
| May 19, 2022 | India’s ONGC looking to buy additional stakes in Russian oil assets |