Oil India sells 20% US shale venture stake for USD 25 mn
Sun, Jan 16, 2022 12:09 PM

Oil India sells 20% US shale venture stake for USD 25 mn

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State-owned Oil India Ltd (OIL) has sold a 20% stake of the US shale oil venture to its venture partner for USD 25 million. US shale business witnessed the second exit of an Indian firm in just two months. OIL and Indian Oil Corporation (IOC) had together in October 2012 bought a 30% stake in Houston-based Carrizo Oil & Gas’s Niobrara shale asset in Colorado for USD 82.5 million.

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