E. Timor: IOC, Oil India may partner Reliance Ind (The Hundu Business Line 31st Dec 2007) Decks have been cleared for two of India’s large oil sector companies, Indian Oil Corporation and Reliance Industries Ltd, to jointly undertake oil and gas exploration abroad. IOC, along with Oil India Ltd, is now expected to join hands with RIL for exploration in the latter’s oil block in East Timor. Both the State-owned companies have obtained approval from their respective Boards to acquire equity in RIL’s asset as farm-in partners. More
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