Moving forward, ONGC Videsh is planning to invest $10-12 billion in asset purchases all over the world. At the Reuters Global Commodity Summit, Verma said the organisation was open to considering mergers and acquisitions and not just asset purchases at a time when the oil prices are low. Over
the next three years, ONGC Videsh plans to double its current investment of $8 billion in Africa. The organisation knows the potential in Africa and Latin America where companies are under financial stress due to high capital expenditure and ONGC Videsh is ready to bank on this opportunity.
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