ASIA

Gail positioning itself to become major force

Indian analysts believe that Gail (India) Ltd is looking to become a major player in the oil and ...

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Apparently, amongst Gail's plans are to take more oil blocks in the Tripura and Cauvery basins and to be involved in the coal-bed-methane sector. It will apparently also look into purchasing stakes in proven international fields.

This move is being seen as a way for the Indian gas pipeline giant to consolidate its upstream activities. Should this analysis prove to be true, Gail will invest around Rs 250 crore (US$55m), around Rs 150 crore ($33m) more than it did in financial year 2003-04.

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