Indian Oil Corp. and Progress Energy

Progress Energy: Petronas, which bought Progress Energy Canada in 2012, announced the sale to state-owned Indian Oil Corp. on Friday. , according to CBC. The deal is unusual in guaranteeing access to Canadian gas for India . No financial terms were released for the deal. Progress Energy picks TransCanada for $5B pipeline expansion Indias biggest oil company has bought a 10 per cent stake in the Progress Energy LNG project in British Columbia, in a deal that will guarantee it access to gas exported from Canada for 20 years. The New Delhi-based refiner is guaranteed 1.2 million metric tons of liquefied natural gas per year for two decades from the B.C. LNG project, which could be in operation by 2018. (www.immigrantscanada.com). As reported in the news.