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Turkey and Iran may jointly build two petrochemical units, state-run Press TV news channel reported, citing Iran’s Deputy Oil Minister.

Iran and Turkey are discussing construction of an urea and an ammonia unit in the industrial hub of Assaluyeh in southern Iran, Press TV said, citing Abdolhossein Bayat, who is also the managing director of National Iranian Petrochemical Co.

Talks include construction of a petrochemical plant in Miyandoab in western Azerbaijan province that can produce 539,000 tons of petrochemical products annually, the TV station reported.

Bayat, who...

Oil & Natural Gas Corp., India’s biggest energy explorer, may borrow $10 billion over the next decade as it competes with rivals from China and South Korea to buy oil assets overseas to meet domestic fuel demand.

“We still have surplus funds in our treasury and I’m not happy to be a zero-debt company,” Chairman R.S. Sharma said in a March 5 interview at his office in New Delhi. “We would like to borrow and leverage that for expanding our business.”

Brazilian mining company, Vale Group is conducting a feasibility study for investing in the Moatize coal mines in Mozambique. The agreement between the governments of Mozambique and the Vale Group, in addition to investing in coal mines, Vale Group is also investing in copper mines in the North Konkola, Zambia.