Connect with us

Hi, what are you looking for?

Jewish Business News


Indian ONGC Videsh eyes stake in Leviathan – report

Indian newspaper “The Financial Express, “ says state-owned ONGC Videsh would like to participate in the Leviathan gas field.

Please help us out :
Will you offer us a hand? Every gift, regardless of size, fuels our future.
Your critical contribution enables us to maintain our independence from shareholders or wealthy owners, allowing us to keep up reporting without bias. It means we can continue to make Jewish Business News available to everyone.
You can support us for as little as $1 via PayPal at
Thank you.

Leviathan GAS FIELD

Indian financial newspaper “The Financial Express” reports that Indian state-owned company ONGC Videsh (OVL) is interested in buying a stake in Israeli gas reserve Leviathan, estmated to contain 21.93 trillion cubic feet of gas.

“The Financial Express” quotes an unnamed official source as saying, “OVL would like to participate in the Leviathan fields and other blocks offered for farm-in in Levantine basin in Israeli waters. Since India has been importing crude oil from West Asian countries such as Iran, Iraq, Kuwait and Saudi Arabia, opportunities in Israel were not pursued so far.”

ONGC Videsh is active in sixteen countries and has invested over $22 billion in gas and oil exploration. The company’s CEO refused to say whether it intended to invest in Leviathan, but did say that it was looking for opportunities.

Trade between Israel and India has burgeoned in recent years, notably through some high-profile contracts with Israeli defense companies. A potential deal on Leviathan may also be supported by warmer diplomatic relations: it has recently been reported that the government of prime minister Narendra Modi is considering changing India’s diplomatic stance towards Israel by ceasing its automatic support for the Palestinians in the United Nations.

Published by Globes [online], Israel business news –



You May Also Like

World News

In the 15th Nov 2015 edition of Israel’s good news, the highlights include:   ·         A new Israeli treatment brings hope to relapsed leukemia...


The Movie The Professional is what made Natalie Portman a Lolita.


After two decades without a rating system in Israel, at the end of 2012 an international tender for hotel rating was published.  Invited to place bids...

VC, Investments

You may not become a millionaire, but there is a lot to learn from George Soros.