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Bharat Petroleum to buy stake in Mozambique oil asset
India's News.Net
Thursday 28th August, 2008 (IANS)
State-run Bharat Petroleum Corp is acquiring a 10 percent stake in an offshore hydrocarbons exploration and production asset in Mozambique for $75 million, it was announced Thursday.
The acquisition, negotiated with the US-based Anadarko and the Mozambique government, is being made by the company's subsidiary Bharat PetroResources.
Videocon Energy Ventures, a company in the stable of the Dhoots, has also acquired a 10 percent stake in the venture.
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