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Cabinet approves acquisition of 11 percent stake in JSC Vankorneft by ONGC Videsh Limited

Cabinet approves acquisition of 11 percent stake in JSC Vankorneft by ONGC Videsh Limited

Oct 05, 2016, at 10:21 pm

New Delhi, Oct 5 (IBNS): The Cabinet Committee on Economic Affairs, chaired by Prime Minister Narendra Modi, on Wednesday given its approval to an acquisition by ONGC Videsh Limited (OVL) for 11% stake in JSC Vankorneft from M/s Rosneft Oil Company (Rosneft), the National Oil Company (NOC) of Russian Federation (Russia).