Business Standard

ONGC Videsh, Oil India bid for Anadarko's 10 percent in Mozambique field - source

Image

Reuters NEW DELHI

NEW DELHI (Reuters) - State-owned ONGC Videsh Ltd and Oil India Ltd continue to seek a 10 percent stake in a Mozambique gas field from Anadarko Petroleum Corp and have bid about $2.5 billion for it, a source with direct knowledge of the matter said on Monday.

ONGC Videsh, the overseas arm of explorer Oil & Natural Gas Corp , and Oil India, earlier on Monday said they have agreed to buy Indian conglomerate Videocon Group's 10 percent stake in the field for $2.48 billion. (Reporting by Nidhi Verma; Editing by Tony Munroe)

Don't miss the most important news and views of the day. Get them on our Telegram channel

First Published: Jun 10 2013 | 7:00 PM IST

Explore News