State-owned Oil and Natural Gas Corporation Ltd.'s overseas arm ONGC Videsh Ltd. and Oil India Ltd. (OIL) are planning to submit a joint bid for acquiring a 20 percent stake in a Mozambique gas field, reports said.
US oil and gas explorer Anadarko Petroleum Corp and Indian billionaire Venugopal Dhoot have launched the auction of a 20 percent stake in Mozambique's Rovuma gas field that could fetch $4.5 billion, sources said.
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.