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India Government Approves ONGC Videsh Ltd Bid To Buy Stake From ConocoPhillips In Kazakh Oil Field-DJ


Monday, 27 May 2013 04:44am EDT 

Dow Jones reported that the India's government has allowed state-run ONGC Videsh Ltd. to buy a minority stake from ConocoPhillips (COP) in an oil field in Kazakhstan for $5.5 billion, a senior ONGC executive said Monday. The deal now need the Kazakh government's permission to go through. ONGC Videsh had signed an agreement on buying an 8.4% stake in the Kashagan oil and gas field from ConocoPhillips in November last year. 

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