ONGC gets nod for Kashagan purchase

    State-owned ONGC , which trumped a strong bid by arch-rival China National Petroleum Corp to bag ConocoPhillips' stake in Kazakhstan's giant Kashagan oilfield, has won project operator Eni's approval for its USD 5 billion acquisition. In its biggest acquisition till date, ONGC Videsh Ltd, the overseas arm of Oil &...