Around the same time, Angola rejected plans by Royal Dutch Shell PLC to sell its half of a project to ONGC, instead ordering Shell to sell to Chinese interests.
ONGC
India’s ONGC Fights to Keep Up
Positive omens combine for courtship of Imperial Energy
The British group was accused of overstating its reserves to boost its share price, provoking fears that it could face the same renationalisation moves as Shells natural gas venture in Sakhalin and BPs Kovykta programme.
Imperial surges on ONGC approach
Mr Mitvol had led the pressure on Royal Dutch Shell over its Sakhalin 2 oil and gas project off the east coast of Russia, which led to it having to cede control in the project to Gazprom.