Business Daily from THE HINDU group of publications
Thursday, Jan 25, 2007
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Business Daily from THE HINDU group of publications Thursday, Jan 25, 2007 ePaper |
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Corporate
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Outlook Industry & Economy - Petroleum
Our Bureau
No such clear indication is available on Chevron's participation in the next round of bidding for coal bed methane exploration blocks (CBM-IV). The company, however, has existing interests in CBM sector abroad. Sources said that Chevron had already evinced interest in the hydrocarbon sector in India and was "interested" to participate in NELP-VII. A final call on the issue, however, would be taken depending on the blocks offered. Though it has already reached an understanding with Reliance for jointly exploring investment opportunities in the upstream sector, sources maintain that a decision on any such participation would be taken once NELP-VII will be open for participation. A Reliance source hinted that Chevron's participation with RIL in oil and gas exploration would be limited in offshore prospects. "Chevron is unlikely to be interested in onshore blocks," the source said.
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