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India Oil & Natural Gas Corp May Borrow $10 Billion to Buy Oil Assets
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.”
Indian Companies to Invest More in Myanmar Offshore Gas Projects
Two large Indian oil and gas companies will invest a total of 1.33 billion U.S. dollars more in offshore gas projects...