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Sovereign Wealth Funds Briefing - Categorized | Market

India loses to China in Africa-to-Kazakhstan-to-Venezuela oil

Posted on 30 June 2010

From Bloomberg: 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.
India proposed a sovereign wealth fund to bid for reserves, told state-controlled Oil & Natural Gas Corp. and Oil India Ltd. to make a major acquisition each this year, and raised the amount they can spend without government approval to 50 billion rupees ($1.1 billion)……………………………………….Full Article: Source

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