Shri Dharmendra Pradhan, Minister of State of Petroleum and Natural Gas, India

ONGC Videsh to bid in Lebanon round

ISTANBUL, July 10, 2017 – ONGC Videsh is hoping to explore gas resources offshore Lebanon, Indian Petroleum and Natural Gas Minister Dharmendra Pradhan announced on Twitter on Monday after meeting Lebanese Minister of Energy and Water Cesar Abou Khalil.

The meeting took place during the World Petroleum Congress in Istanbul.

ONGC Videsh is one of several companies pre-qualified to bid in the auction, Reuters reported, alongside Qatar Petroleum, Petropars, New Age African Global Energy and others.

The news came amid rising tensions in the eastern Mediterranean region after peace talks between the Greek and Turkish parts of Cyprus collapsed last week.

“It is impossible to appreciate that some energy companies are acting with, and becoming part of some irresponsible measures taken by Greek Cypriots,” Turkish President Recep Tayyip Erdogan said on Monday at the industry gathering in Istanbul.

“I want to remind them that they could lose a friend like Turkey.”

The prospective foray into Lebanon by the Indian NOC’s oversees arm was announced as Indian refiner Bharat Petroleum issued a tender for its first crude shipment from the USA, Reuters also reported.

Bharat Petroleum is looking for 1 million barrels of oil or more for delivery in September or October, the report added.

Read our latest insights on: