After sitting over OVL's proposal for years, the National Iranian Oil Co (NIOC) informed the firm in February this year about its intention...

Any company investing in the Iranian oil field will attract US sanctions, crippling its ability to access the international financial syste...

Iran previously conditioned granting rights to develop the Farzad-B fields to OVL on Indian firms buying all of the gas produced at the imp...

OVL is one of the 34 companies Iran pre-qualified last year for development of South Azadegan field, which contains an estimated 33 billion...

Israel, with its major gas reserves, has emerged as a greener pasture for the Indian oil companies as Iran plays truant on Farzad-B gas fie...

Iran wants India to buy all of the natural gas to be produced from the Persian Gulf block at a price equivalent to the rate Qatar charges f...

An OVL-led consortium had already submitted a $3 bn development plan to Iran to develop an offshore field in Farzad B, which holds 12.5 tn ...

Foreign firms are to be paid a fee per barrel and they will also be entitled to an increase in profits in the face of dramatic oil price fl...

The gas produced from the field will be converted into liquefied natural gas (LNG) for export to consuming nations like India.

India is set to push for the proposed $7-billion gas pipeline from Iran via Pakistan, seeking to grab the opportunity presented by the nucl...

India will ask Tehran for rights to develop ONGC-discovered Farzad-B gas field in the Persian Gulf even as it prepares to pay $ 6.5 billion...

Anticipating easing of Western sanctions against it, Iran is acting tough over giving state- owned ONGC the rights to develop the Farzad-B ...

With easing of Western sanctions against Iran in sight, India has made a renewed pitch to get rights to develop ONGC-discovered Farzad-B ga...

ONGC Videsh Ltd, the overseas arm of state-owned Oil and Natural Gas Corp, had in 2008 discovered the Farzad-B gas field in its Farsi explo...

The broad contours suggest the company would be "fully owned by the government", and would be administered by the oil ministry.

ONGC Videsh Ltd wants Iran to pay a higher return on the $ 5-6 billion it plans to invest in developing Persian Gulf gas field of Farzad-B.

The ongoing sanctions imposed by the US and some European countries against Iran due to its nuclear programme may put some of the ONGC Vide...