IN BRIEF (Page 13)

Oil India ready for overseas buys

Oil India Ltd, the state explorer that bid for Gulfsands Petroleum Plc, said it has more than $2.5 billion cash available for acquisitions as it seeks producing assets overseas to help boost the country's energy security.

"We have earmarked around $500 million toward overseas acquisitions in" the year that started April 1, Chairman and Managing Director N.M. Borah said. "If the opportunity or need arises, we would be in a position to spend higher outlays."