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Oil India plans to set up overseas arm

15 Apr 2013 Evaluate

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.

Peers
Company Name CMP
ONGC 232.75
Oil India 477.00
Jindal Drilling&Inds 582.80
Deep Industries 734.55
Aban Offshore 14.20
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