Oil India eyes acquisitions

India’s second largest national oil and gas company, Oil India, is scouting for assets as it seeks to meet the country’s energy needs.

“We are looking at MA opportunities and are concentrating on producing assets that can generate cash flow,” Rupshikha Borah, finance director at Oil India, told FinanceAsia in a recent interview in New Delhi.

The company has been busy buying resources but has faced challenges in closing deals. Its bid for Royal Dutch Shell’s Nigerian assets earlier this year proved to be unsuccessful and, according to news reports, Dangote Industries, which is owned by Africa’s richest man Aliko Dangote, is the likely winner...