Venezuelan oil firm may buy stake in ONGC-MPL - Business Standard

Venezuelan government-owned oil major, Petroleos De Venezuela, is likely to buy stake in ONGC Mangalore Petrochemicals, which is promoted by ONGC and MRPL for setting up an aromatic unit in Mangalore SEZ.

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"Discussions are already on. The Venezuelan company, which is the fifth-largest oil producer in the world, is looking for a controlling stake in the project," a source said. ONGC Chairman R S Sharma confirmed that the Venezuelan company did evince some interest in the project.

Full Story: Venezuelan oil firm may buy stake in ONGC-MPL - Business Standard