Indian oil PSUs to raise $2b debt to fund stake purchase in Russian fields

Indian oil PSUs to raise $2b debt to fund stake purchase in Russian fields

Photo: Pixabay

Indian Oil Corporation Ltd (IOC), Oil India Ltd and Bharat Petro Resources Ltd (BPRL), a unit of Bharat Petroleum Corporation Ltd (BPCL), are together looking to raise $2 billion in debt to fund their purchase of stakes in two Russian fields, Vankorneft and Tass-Yuryakh, said four people aware of the development.

Bring stories like this into your inbox every day.

Sign up for our newsletter - The Daily Brief
Subscribe to Newsletter