Markets

Indian consortium to pay $2.1bn for stake in Rosneft's Vankor

Published June 17, 2016 Updated June 17, 2016 05:10pm

1 min

By Fawad Maqsood

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MOSCOW: A consortium of Indian oil companies will pay just over $2 billion for a 23.9 percent stake in Russian oil producer Rosneft's Vankor oil field, Interfax news agency cited sources as saying on Friday.

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

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

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