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Oil India Ltd In Talks With Mozambique For Stake In Rovuma-1 Gas Field-The Economic Times


Thursday, 25 Oct 2012 08:59pm EDT 

The Economic Times reported that Oil India Ltd is in talks with Mozambique to pick up a stake in giant gas field Rovuma-1 after a proposed energy policy allowed stakeholders to ship out their share of gas. Cash-rich Oil India is also considering downstream investments such as setting up fertilizer and petrochemical plants in the country though a consortium of state oil firms because of availability of abundant gas, one government official and one company official said requesting anonymity. Oil India has reserves and surplus of about INR12,500 crore (INR125 billion). 

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