In a bid to acquire oil and gas properties overseas, Oil India, the nation’s second biggest state-owned explorer is planning to set up an overseas arm. In this regard, the company has received its board’s approval in its meeting on April 10, 2013.
Oil India has so far been partnering Indian Oil Corporation (IOC), the nation’s largest refinery, in its overseas ventures. They had even set up a Mauritius-based special purpose vehicle for overseas acquisition.
