India’s cabinet has approved a $7.2 billion (4.4 billion pounds) deal between Reliance Industries and BP , two local television channels said on Friday.
India’s oil ministry had earlier recommended approval for the deal.
Reliance agreed in February to sell a stake in 23 of its oil and gas blocks, including some in the KG basin, to global oil & gas major BP, and is expected to benefit from BP’s deepwater exploration expertise.
