Saturday, November 19, 2005

Oil: India's Oil and Natural Gas in Nigerian bid

India's Oil and Natural Gas is bidding for a stake in the Nigerian Akpo oil and gas field. The offshore field owned by the French company Total SA, has an estimated value of $1-billion.

ONCG hasn't had much luck with overseas ventures recently, after being beaten by China in the takeover of PetroKazakhstan,and losing out on venture in Ecuador.