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News Brief | December 2013

IOC in talks to buy Petronas' 10% stake in Canadian gas asset

Indian Oil Corp (IOC), the nation's biggest refiner, is in talks to buy Malaysian state oil company Petronas' 10 per cent stake in a Canadian shale gas asset. Petronas, another source said, is seeking between $1.1 billion to $1.5 billion for its 10 per cent stake in Canada's Progress Energy Resources Corp.
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