OVL to acquire share in oil asset in Colombia

New Delhi, Aug 3 (UNI) The government today gave a go ahead to ONGC Videsh Ltd (OVL) to acquire a share in an oil asset in Colombia.

The OVL will fund the acquisition from its own resources or from resources of its parent company, ONGC, Finance Minister P Chidambaram told reporters after a meeting of the Cabinet Committee on Economic Affairs that gave the go ahead.

Mr Chidambaram, however, refused to disclose any thing more due to commercial interest involved in the proposal.

UNI YJ RP RS2054