ONGC Videsh Reconsiders Plan to Buy Stake in Kenya Oil Project
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ONGC Videsh Ltd. is reconsidering taking a stake in Tullow Oil Plc’s Kenya assets following the exit of other partners in the project.
The Indian oil company needs more clarity after TotalEnergies SE and Africa Oil Corp. quit the Kenya consortium several weeks ago, an ONGC executive, who asked not to be named because the information was private, told reporters on Tuesday. ONGC and Oil India Ltd.’s discussions with Tullow started before these companies decided to exit.