India Seeks Security Approval for Reliance-BP Deal, Express Says
India’s oil ministry is seeking security clearance from the home ministry for BP Plc (BP/)’s plan to buy 30 percent stake in 23 oil and natural gas blocks operated by Reliance Industries Ltd. (RIL), the Financial Express reported, without saying where it obtained the information.
The oil ministry is seeking the home ministry’s views on BP’s 13 directors and the London-based company’s ability to handle environment risks, the newspaper reported. This may delay the government’s final approval for the deal, according to the report.
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