Date:16/07/2008 URL: http://www.thehindu.com/2008/07/16/stories/2008071656141900.htm

Business

ONGC set to buy Imperial Energy

MOSCOW: Oil and Natural Gas Corporation is set to acquire 100 per cent shares of Imperial Energy, a British oil company operating in West Siberia and Kazakhstan, Kommersant daily reported quoting a banking source. The deal has been under negotiations since January and only last month received approval from the board of directors of Imperial Energy.