The consortium comprising of Indian Oil, ONGC Videsh and Oil India, as well as Repsol SA, would not be exercising the right of pre-emption of the vacated shares in the oil project previously owned by Petronas of Malaysia.
Oil India
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ONGC Videsh looked at another energy asset in US while Oil India neared acquisition for an African oil and gas asset.
State run oil and gas companies, ONGC and Oil India announced to pay US$2.5 billion for Mozambique field stake from Videovon Industries Ltd.
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