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ONGC seals first move into Sudan oil

Author: Matthew Jones & Khozem Merchant, Financial Times, Published on: 13 June 2002

Oil & Natural Gas Corp, the Indian state-owned group...yesterday concluded negotiations in London to acquire a 25 per cent stake in the Greater Nile Oil Project from Talisman Energy of Canada...Mr Buckee [Talisman's CEO] has in the past been critical of non-governmental organisations, warning that their campaigns for his company to leave Sudan could be counter-productive. In October he said the Asian state-owned groups and Saudi princes vying for the assets were unlikely to be as enthusiastic about corporate social responsibility as Talisman.

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Related companies: ONGC (Oil & Natural Gas Corporation) Talisman (part of Repsol)