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OVL’s 11% Vankor stake buy gets Cabinet nod
NEW DELHI: The Union Cabinet on Wednesday approved ONGC Videsh buying an additional 11% stake in Russia’s Vankor oil field for $930 million (₹6,231 crore). OVL,
Published on: Oct 6, 2016, 07:22:24 IST
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NEW DELHI: The Union Cabinet on Wednesday approved ONGC Videsh buying an additional 11% stake in Russia’s Vankor oil field for $930 million (₹6,231 crore). OVL, the overseas arm of state-owned Oil and Natural Gas Corporation, had in May this year completed acquisition of a 15% stake in the same field for $1.28 billion. That stake buy had given it 4.11 million tones of oil per annum.
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