Indian consortium to pay $2.1 bn for stake in Rosneft’s Vankor: report

Rosneft had signed a preliminary pact with Indian Oil, Bharat Petroleum Corp.’s unit Bharat Petro Resources, and Oil India in March, but financial details were not disclosed


The deal, signed by Rosneft with Indian Oil Corp. Ltd, Bharat Petroleum Corp. Ltd’s unit Bharat Petro Resources Ltd, and Oil India Ltd on Friday, is worth $2.1 billion, Interfax quoted one of the people close to the deal as saying. Photo: AFP
The deal, signed by Rosneft with Indian Oil Corp. Ltd, Bharat Petroleum Corp. Ltd’s unit Bharat Petro Resources Ltd, and Oil India Ltd on Friday, is worth $2.1 billion, Interfax quoted one of the people close to the deal as saying. Photo: AFP

Moscow: A consortium of Indian oil companies will pay just over $2 billion for a 23.9% stake in Russian oil producer Rosneft’s Vankor oil field, Interfax news agency cited people aware of the development as saying on Friday.

The deal, signed by Rosneft with Indian Oil Corp. Ltd, Bharat Petroleum Corp. Ltd’s unit Bharat Petro Resources Ltd, and Oil India Ltd on Friday, is worth $2.1 billion, Interfax quoted one of the people close to the deal as saying.

A preliminary pact was signed by the companies in March but financial details were not disclosed. Reuters

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