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+ - UPDATE 1-India's Gulf Oil Buys US Chemicals Company For $1 Bln->

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binarypower7 writes "India’s Rain Commodities agreed to buy Belgium-based speciality chemicals group Ruetgers in a $918 million deal last month, while state oil producer ONGC said it is investing $1 billion in a group of oil fields in Azerbaijan.

Gulf Oil said it bought Houghton from a U.S.-based private equity fund, but did not give more details.

At 11.00 am (0530 GMT), Gulf Oil shares were trading down 1.8 percent in a firmer Mumbai market."

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UPDATE 1-India's Gulf Oil Buys US Chemicals Company For $1 Bln

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