India, China Win On Venture's Bid For Syria Oil Stake

CALGARY, Alberta -- A joint venture between the flagship state oil companies of India and China has emerged as the winning bidder for Petro-Canada's oil-producing assets in Syria, chalking up a successful conclusion to an initial effort by Beijing and Delhi to cooperate over securing energy supplies to power the booming economies of the world's two most populous nations.

Petro-Canada said it agreed to sell for €484 million ($581.2 million) its minority stakes, ranging from about 33.3% to 38%, in a number of mature...