Indian Oil Corp. declared that it will take just one-tenth of the 40 per cent stake the grand alliance of Oil and Natural Gas Corp. and Reliance Industries along with the state refiner is eyeing in a vast oilfield in Venezuela. For full story, click here
Four Indian energy firms stated that they are considering a joint bid to acquire a minority stake in one of the Orinoco blocks that Venezuela is offering to foreign investors which is leading the Indian consortium. For full story, click here
Energy heavyweights Reliance Industries Ltd. and ONGC Videsh Ltd. have announced plans to jointly bid for oil exploration and production blocks in Venezuela, forming an alliance that may be expanded to include Indian Oil Corp. Ltd. For full story, click here
Taiwan’s state owned CPC Corp. sealed a MOU with Indian Oilsands for a potential partnership on Oilsands development the province of Saskatchewan in Canada. For more information, click here
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