British Petroleum is all set to take over 30% stake in 23 oil and gas blocks of Reliance Industries Limited. The deal would fetch Reliance Industries an aggregate of USD 7.2 billion.
The petroleum majors have entered into a 50-50 joint venture for sourcing and marketing of gas. The jiont venture is also aimed to create infrastructure for gas transportation. British Petroleum has said that its total investments in the joint venture could go up to USD 20 billion and the company expects future performance payments to the tune of USD 1.8 billion.Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
