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Tuesday, March 5, 2013

India's ONGC, Oil India considering bid for Mozambique gas stake-sources, (NYSE: APC)

Indian state-owned Oil and Natural Gas Corp's overseas arm and Oil India Ltd are considering a joint bid for a 20 percent stake in a Mozambique gas field, two sources familiar with the matter told Reuters. U.S. oil and gas explorer Anadarko Petroleum Corp and Indian billionaire Venugopal Dhoot have launched the auction of a 20 percent stake in Mozambique's Rovuma gas field that could fetch $4.5 billion, sources familiar with the matter told Reuters.

Anadarko Petroleum Corporation (Anadarko) is an independent exploration and production company. Shares of APC traded higher by 0.65% or $0.52/share to $80.34. In the past year, the shares have traded as low as $56.42 and as high as $87.37. On average, 3211330 shares of APC exchange hands on a given day and today's volume is recorded at 3423121.