Indian oil PSUs to take stake in LNG plant.

Oil India (OIL), ONGC Videsh (OVL) and Bharat Petro Resources (BRPL) are expected to take a 30 per cent stake in the project. Indian companies would also take part in the next round of bidding for oil and gas blocks, expected to open year-end.

Petroleum Minister M Veerappa Moily said a draft agreement for participation in the liquefication project had been sent to our embassy in Mozambique. 'We need to expedite the signing (between the India and Mozambique governments)'.

BS