New Delhi, December 18 Indian Oil Corp and Oil India are in talks with Russia’s Rosneft to buy up to a 29 per cent stake in a Siberian oil project, two sources said, as New Delhi accelerates a push to secure overseas energy assets. India, the world’s fourth-biggest oil consumer, has to ship in three quarters of its oil needs and with oil prices close to their lowest since the global financial crisis has added incentive to seal purchases to limit import reliance. The deal, which could be worth around $1 billion based on the valuation of a recent stake …read more
Source: The Himalayan Times
