Indian ONGC Videsh earnings grow in FY 2014

May 21, 2014

Financial results of ONGC Videsh Ltd, the wholly-owned subsidiary of ONGC, for the year ended 31st March 2014 were considered and approved by the Board in its meeting held on May 20, ONGC Videsh’s press office has said.

During FY’14, the company’s profit rose by 13.1% year on year. Crude oil production during FY’14 was higher by 26.3% due to new production stream from ACG, Azerbaijan; acquisition of additional 12% PI in Block BC-10, Brazil; higher production from Sudan and resumption of production from South Sudan.

Source: ONGC Videsh Press Office, 2014