No 04



India Clears ONGC To Acquire Shares In Sudan Blocks 3 And 7

Indias cabinet on 20 January cleared state-owned Oil and Natural Gas Corporations (ONGCs) plans to acquire an 11% stake in the consortium operating Sudans Blocks 3 and 7. ONGC will acquire Al-Thani Groups 5% stake for $68.4mn as well as the 6% stake held by Qatar-based Gulf Sudan for $57mn, according to a Press Trust of India report. If successful, the acquisition will be the third by ONGC in Sudan...