Shell’s departure from Oman’s 120,000 b/d Mukhaizna heavy oil field has facilitated India’s efforts to boost its Middle East upstream presence. The Anglo-Dutch firm announced on 5 April the sale of its 17% stake in the field to Indian state firm Indian Oil Corporation (Indian Oil) for $329mn. Backdated to 1 January 2017, the transaction marks Indian Oil’s second splash in the region in less than two months after a consortium including Indian state firms ONGC Videsh...
Indian Oil Enters Oman
Published on Fri, 13 Apr 2018 - Volume: 61 Issue: 15Print
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