Which company acquired Equinor's stakes in Azerbaijan's Azeri Chirag Gunashli (ACG) oil field and the Baku-Tbilisi-Ceyhan (BTC) pipeline?

A)
ONGC Videsh Limited
B)
Indian Oil Corporation
C)
Reliance Industries Limited
D)
Bharat Petroleum Corporation Limited

Correct Answer :   ONGC Videsh Limited


ONGC Videsh Limited (OVL), a subsidiary of ONGC, recently acquired Norwegian firm Equinor’s stakes in Azerbaijan’s offshore Azeri Chirag Gunashli (ACG) oil field and the Baku-Tbilisi-Ceyhan (BTC) pipeline for $60 million.

This acquisition increases OVL’s stake in the ACG oil field to 2.95% and in the BTC pipeline to 3.097%, highlighting OVL's strategic investment in international energy assets.

Published On : July 22, 2024