Asia Pulse: ANGOLA BLOCKS INDIAN DEAL TO BUY SHELL STAKE IN OIL FIELD
Sep 20, 2004
NEW DELHI, Sept 20 Asia Pulse – ONGC Videsh Ltd’s attempt to buy oil major Shell’s stake in a 10 million tonnes per annum oil field in Angola is unlikely to go through with Luanda deciding to block the deal.
Petroleum Minister Mani Shankar Aiyar met Angolan Minister for Petroleum Desiderio da Graca Verissimo e Costa on the sidelines of an OPEC conference in Vienna, but could only extract an assurance that Angola would consider farming-in OVL after Shell’s 50 per cent stake in the block is taken over by Sonangol.