Oil & Natural Gas Corp. , India’s biggest explorer, says it should be allowed to recover 140 billion rupees ($3 billion) payable as royalty for partner Cairn India Ltd. , which Vedanta Resources Plc seeks to buy.
Oil & Natural Gas Corp. , India’s biggest explorer, rose the most in a year after Chairman R.S. Sharma said higher gas prices will add 50 billion rupees ($1 billion) in revenue and curb losses from its aging fields.
Oil & Natural Gas Corp. , India’s biggest energy exploration company, will protect its interests following Vedanta Resources Plc’s plan to acquire a majority stake in Cairn India Ltd., without submitting a competing bid.
Indian Oil Minister Murli Deora traveled to Nigeria, Angola, Uganda, Sudan, Saudi Arabia and Venezuela this year, leading a record number of delegations to gain oil for the world’s third-fastest-growing major economy.