OIL, IOCL and BPRL to acquire 29% stake in Tyngd of Russia
The Dollar Business Bureau A consortium of oil companies from India, including Oil India Limited (OIL), Indian Oil Corporation Limited (IOCL) and Bharat PetroResources Ltd (BPRL), is going to acquire 23.9 percent share in JSC Vankorneft and 29.9 percent share in Tyngd from LLC RN Upstream, a fully-owned arm of Rosneft Oil Company, national oil company of Russia. The definite definitive contracts for the same were signed on March 16, 2016. “The Cabinet Committee on Economic Affairs, chaired by the Prime Minister Narendra Modi, has given its approval to an Indian Consortium comprising Oil India Limited (OIL), Indian Oil Corporation Limited (IOCL) and Bharat Petro Resources Limited (BPRL) for acquiring 23.9 percent stake in JSC Vankorneft and 29.9 percent stake in LLC Taas-Yuryakh from M/s Rosneft Oil Company (Rosneft), the National Oil Company (NOC) ...
