From The Economic Times
With ONGC lining up USD 3 billion more investment in a giant Mozambique gas field, India pressed the African nation to approve a law that will help protect its investment.
ONGC Videsh Ltd, the overseas arm of state explorer Oil and Natural Gas Corp (ONGC), and Oil India Ltd (OIL) have already spent USD 5 billion in taking 20 per cent stake in Area-1 gas field. Their share of investment for developing the offshore gas field and converting the fuel into LNG for export in ships would be another USD 3 billion-plus.
Read more at The Economic Times