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    Essar Looking at Minor Stake in Libyan Oil
  The Essar Group is looking to pick up a minor stake of 20 per cent in Phoenix Libya, oil and gas field, with rights to increase stakes to 50 per cent.
     
 

The Essar Group is looking to pick up a minor stake of 20 per cent in Phoenix Libya, oil and gas field, with rights to increase stakes to 50 per cent. Essar, which operates a greenfield refinery at Vadinar in Gujarat, also has three oil and gas exploration blocks in Madagascar, two in Myanmar, and is looking for opportunities in 12 countries in West Asia, Central Asia, and Africa. It has already revealed plans to bid for energy blocks in Iran, Papua New Guinea, and Libya