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    South Asia
     Dec 15, 2005
India-China oil bid

NEW DELHI - India and China have for the first time ever made a joint bid to acquire oil and gas assets in Syria.

"We have made a joint bid with China's CNPC for acquiring Syrian properties of PetroCanada," ONGC chairman and managing director Subir Raha told reporters.

ONGC Videsh Ltd, the overseas arm of state-run Oil and Natural Gas Corporation, and CNPC have made an equal bid for PetroCanada's 38% interest in Syria. Raha said there were eight



companies competing for the property.India and China till now have competed for oil properties in Central Asia, Africa and Latin America. This is the first time that the two countries are making a joint bid.

On payment of interim dividend, Raha said the company is meeting on December 23 but there was no proposal for a bonus issue.

(Asia Pulse/PTI)

 

 
 



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