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Get latest articles and stories on Latest News at LatestLY. State-owned Oil India Ltd (OIL) has exited from a US shale oil venture, selling its 20 per cent stake to its venture partner for USD 25 million -- the second exit of an Indian firm from the US shale business in two months. Latest News | Oil India Exits US Shale Venture, Sells 20 Pc Stake for USD 25 Mn.
Oil India Ltd (OIL) has exited from a US shale oil venture, selling its 20 per cent stake to its venture partner for USD 25 million - the second exit of an Indian firm from the US shale business in two months. Get more India News and Business News on Zee Business.
State-owned Ltd (OIL) has exited from a US shale oil venture, selling its 20 per cent stake to its venture partner for $25 million -- the second exit of an Indian firm from the US shale business in two months. "Oil India (USA) Inc (wholly owned subsidiary of OIL), divested its entire stake in Niobrara shale asset, USA," a regulatory filing by the company said, adding the
The move by OIL follows Reliance Industries Ltd's exit from US shale, which has not been attractive in generating returns.
OIL, whose assets in the northeast account for its entire crude oil production and the bulk of gas production, had aggressively scouted for overseas assets in the last decade