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Monday, Oct 21
BHP to back away from India oil exploration projects
- BHP Billiton (BHP) plans to pull out of a series of Indian oil and gas explorations projects after being hit by regulatory delays in the country.
- The pullout makes BHP the latest large global company to scale back or end their operations in India because of of bureaucratic delays or disagreements with the government; earlier this month, Wal-Mart pulled out of its Indian joint venture, complaining about overly restrictive regulations on foreign investment.