PSU PRESS RELEASE
Indian Oil Oil India BPCL unit to raise USD2 billion
Mumbai: Indian Oil Corporation Ltd (IOC), Oil India Ltd and Bharat PetroResources Ltd (BPRL), a unit of Bharat Petroleum Corporation Ltd (BPCL), are together looking to raise USD2 billion in debt to fund their purchase of stakes in two Russian fields, Vankorneft and Tass-Yuryakh, said four people aware of the development.
Russian energy giant OAO Rosneft had in March agreed to sell stakes in the two Siberian oil and gas fields to the state-run Indian oil companies.
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