Summary
The Board of state-ownedONGCBSE 0.40 % has approved signing of a preliminary agreement for buying a stake inGujarat government firm GSPC's KG basin gas block. The Board of Oil and Natural GasBSE 0.40 %Corp (ONGC) at its meeting on September 8 approved signing of an MoU for taking a stake in Gujarat Petroleum Corp Ltd's (GSPC) difficult gas block, sources privy to the development said. The MoU approved strangely also incorporates a dispute resolution wherein any differences over issues like valuation ornatural gas reserves would be referred to a three-member committee of outside experts. Sources said this is perhaps for the first time that a memorandum of understanding (MoU) sets out ......