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Indians pay US$600m for stake in Abu Dhabi oil concession

Deal gives country security in long-term supply, while enabling Adnoc to tap rising demand of Asian consumers

Abu Dhabi

INDIAN companies agreed to pay US$600 million for a stake in one of Abu Dhabi's biggest offshore oil concessions, securing a share in the emirate's crude production for the first time.

State-owned Oil and Natural Gas Corp and two other Indian companies will take a 10 per...

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