OVL strikes $2.6bn deal to buy 10pc stake in Mozambique offshore block

NEW DELHI – India’s state-owned oil explorer, Oil and Natural Gas Corporation (ONGC) has entered into a deal with US firm Anadarko Petroleum to acquire a 10 percent stake in an offshore gas field in Mozambique for $2.6billlion. The 10 percent stake acquisition through the overseas arm of ONGC is in addition to an acquisition of 10 percent stake jointly with state-owned Oil India Ltd in the …

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