What does OVL mean in COMPANIES & FIRMS
OVL stands for ONGC Videsh Ltd. It is a wholly owned subsidiary of Oil & Natural Gas Corporation Limited (ONGC) – the flagship national oil company of India focused on exploration and production of oil and gas in international markets. This company has been active in over 20 countries and has accumulated a portfolio of more than 31 assets worldwide, including recent acquisitions such as Vankorneft, Imperial Energy, Carabobo 1 EPC and others. With its presence in 17 countries’ energy sector, it is definitely one of the most successful public sector companies in India.
OVL meaning in Companies & Firms in Business
OVL mostly used in an acronym Companies & Firms in Category Business that means ONGC Videsh Ltd
Shorthand: OVL,
Full Form: ONGC Videsh Ltd
For more information of "ONGC Videsh Ltd", see the section below.
What OVL Means In Business
Found in 1981, ONGC Videsh Ltd.(OVL) is an Indian multinational company which focuses on producing and exploring petroleum products like crude oil, natural gas or natural resources from the sources located outside India with the help of partnerships with other firms. Its operations extend to more than 15 countries including United States, Canada, Libya, Nigeria, Sudan etc., making it one of the significant investments made by any state owned enterprise outside India. With its growing network in these nations across different continents, OVL has become an important factor for economic development of India. This public sector enterprise also works towards stabilizing the prices of crude oil for Indian refineries as well as helping them to diversify their portfolio internationally.
OVL Full Form
The full form for OVL stands for ONGC Videsh Limited. As mentioned earlier, this international arm of ONGC is primarily engaged in hydrocarbon search & exploration activities abroad thereby contributing positively to Indian economy through foreign earnings and employment generation opportunities overseas. The venture invests capital into projects abroad with other private and/or government firms thereby increasing its operational visibility globally while simultaneously working towards maximizing returns to shareholders from those investments by reducing costs whenever possible through effective collaboration with those involved partners.
Essential Questions and Answers on ONGC Videsh Ltd in "BUSINESS»FIRMS"
What is ONGC Videsh Ltd.?
ONGC Videsh Ltd., abbreviated OVL, is an oil and gas exploration & production company and a wholly owned subsidiary of Oil and Natural Gas Corporation (ONGC) which is India's largest oil and gas exploration and production company. OVL is engaged in the acquisition of producing properties abroad to extend the presence of ONGC in several countries across the globe.
Does ONGC Videsh explore global market for oil and gas?
Yes, OVL has been actively participating in dozens of international bid rounds for acquiring hydrocarbon assets around the world since its inception in 1989. OVL currently has 37 projects spread across 16 countries including Russia, Iran, Iraq, Vietnam, Sudan, Mozambique and Venezuela.
Who are some of the major partners with whom OVL works?
OVL has strategic partnerships with some of the leading companies in the oil and gas industry such as Shell, Statoil ASA, Eni SPA, CNPC International Ltd., Total SA etc.
What are some of the main activities undertaken by OVL?
The key activities undertaken by OVL include acquiring stakes or equity interests in producing assets abroad to securing access to new upstream business opportunities; undertaking technical studies to assess prospects; carrying out detailed evaluation; negotiating participation terms; making investments; setting up JV/partnership companies to operate particular blocks etc.
How does ONGC Videsh fund its operations?
To finance these acquisitions and investments, OVL uses internally generated funds or finance from other sources such as syndicated loans from national & foreign banks & financial institutions or through public issue of Foreign Currency Convertible Bonds (FCCBs).
Is there any other way that ONGC Videsh supports its operations?
Yes, additionally they use hedging instruments to secure their revenue streams from price fluctuations that could negatively affect their operations. This helps them mitigate risks associated with their projects & stabilize profitability over long term commitments.
How does ONGC ensure sustainability through its efforts?
Sustainable Development is an integral part of all our activities at OVL. We operate under stringent environmental regulations under supervision from respective governments allowing us access to high quality resource potential while focusing on mitigating environment impact through efficient operational excellence. Additionally we develop Energy Conservation Plans for each project which help us monitor energy consumption & reduce wastage by using newer technologies & materials for our operations wherever possible.
Final Words:
To sum up, ONGC Videsh Limited (OVL) is a wholly owned subsidiary established under the direction of Oil & Natural Gas Corporation Limited with an objective to explore and produce oil & gas resources from abroad so that they can be imported back into India at reasonable rates while also generating revenues for the parent corporation itself as well as various other entities involved in various international ventures involving OVL. The success achieved by this public sector enterprise has transformed it into one of the major suppliers for Indian refineries making them focus more on quality rather than cost thus ensuring that consumers are able to enjoy clean fuel at relatively lower prices produced out of their efforts within dynamic global energy markets today.
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