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Essar Energy out of race for Shell properties
26 March 2011: Essar Energy is out of the race to buy Royal Dutch Shell Plc's stake in four oil fields in Nigeria.
Essar had bid for buying a stake in all the four onshore blocks in the Niger Delta that Shell had put on offer. However, Shell did not find Essar's offer for any of the blocks -- OML 30, 34, 40 and 42 - lucrative.
Source: Economic times