Which Oil Company has signed definitive agreements to buy Gujarat State Petroleum Corporation (GSPC) entire 80 % stake in KG-basin natural gas block for $1.2 billion.

2017

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Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]

A	IOCL
B	Bharat Petroleum
C	Essar Oil Limited
D	ONGC

Explanation:

Detailed explanation-1: -State-owned Oil and Natural Gas Corporation (ONGC) has signed definitive agreements to buy out debt-ridden GSPC’s entire 80% stake in KG-basin natural gas block for $1.2 billion.

Detailed explanation-2: -The first major oil find came in 1958 with the discovery of the Ankleshwar field located about 80 km south of Vadodara and nearly 160 km south of Khambhat.

Detailed explanation-3: -ONGC celebrates 50 years of first oil discovery in Lunej-The Economic Times.

Detailed explanation-4: -(GSPC) emerge as the biggest loss-making state public sector undertaking (SPSU).

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