ONGC Videsh to borrow record $4 bn for Mozambique stake

Last Updated: Wednesday, September 25, 2013, 16:03

OVL and Oil India Ltd (OIL) are jointly buying a 10 percent stake in Mozambique's offshore Rovuma Area 1.

CIL awaiting response from Limpopo govt on mines acquisition

Last Updated: Monday, September 23, 2013, 16:33

State-owned Coal India is yet to receive a response from the Limpopo provincial government on the willingness expressed by the PSU in acquiring mines owned by the government of South Africa, a move that may delay the company's plans of acquisition of mines overseas.

ONGC to buy stake in Anadarko Mozambique gas block for $2.64 bn

Last Updated: Monday, August 26, 2013, 16:26

The deal for Mozambique's offshore Area 1 is expected to close around the end of this year, Anadarko said.

ONGC to buy 10% stake in Mozambique field for $2.6 bn

Last Updated: Monday, August 26, 2013, 11:26

With this, OVL has snapped up deals worth over USD 11 billion since September last year as it works to tackle rising energy needs of the country with takeovers abroad.

OVL to buy Anadarko's 10% stake in Mozambique field for $2.6 bn

Last Updated: Sunday, August 25, 2013, 15:40

The company had on June 25 announced buying Videocon's 10 percent stake in the same field, which may hold as much as 65 Trillion cubic feet (Tcf) of gas resources, along with Oil India Ltd (OIL) for USD 2.475 billion.

Mozambique women caught trying to smuggle drugs worth Rs 15cr

Last Updated: Monday, August 12, 2013, 16:49

Two female Mozambique nationals were arrested from international airport here for allegedly trying to smuggle out 30 kgs of Methaqualone drugs valued at Rs 15 crores, a senior Customs official said.

Exploration of CIL's Mozambique mines may be completed in 2014

Last Updated: Monday, August 5, 2013, 15:16

The Minister further said that the first stage of drilling of the mines has been completed and the second stage is under progress.

Coal India starts further exploration of mines in Mozambique

Last Updated: Thursday, July 18, 2013, 14:03

Taking its plans to develop coal blocks in the African nation forward, Coal India has started further exploration of its twin mines in Mozambique.

Exim Bank funds 3 Mozambique projects worth $216 mn

Last Updated: Tuesday, July 9, 2013, 15:52

The Exim Bank said it has extended an additional USD 216.44 million in three lines of credit (LoC) to Mozambique.

India, Mozambique trade doubles

Last Updated: Saturday, July 6, 2013, 14:05

Trade between Mozambique and India has doubled from USD 6.31 million in 2010 to USD 1.28 billion in 2012.

Oil India to raise upto $900 mn debt to fund Mozambique buy

Last Updated: Monday, July 1, 2013, 23:46

State-run Oil India Limited Monday said it will raise up to USD 900 million debt from overseas markets by October to pay for its acquisition of 4 percent interest in a gas field in Mozambique.