Indian consortium buys 10% stake in UAE oilfield for $600 mn
An Indian consortium led by ONGC has agreed to pay $600 million (over â¹3,850 crore) for a 10% stake in an offshore oilfield in UAE's Abu Dhabi. This marks the first time Indian oil companies have been given a stake in Abu Dhabi's hydrocarbon resources. The deal was signed during the visit of PM Narendra Modi to UAE on Saturday.