HPCL joins talks to buy 49% stake in Russia’s Vankor Cluster oil fields

IOC, BPCL, HPCL eye Rs 60k-cr refinery

Latest News – State-owned Hindustan Petroleum Corporation (HPCL) has joined the Indian consortium negotiating buying a 49 per cent stake in Russia’s Vankor Cluster oil fields in the Arctic region.

Originally, ONGC Videsh Ltd, the overseas investment arm of state-owned Oil and Natural Gas Corporation (ONGC), signed an MoU to explore buying a stake in Suzunskoye, Tagulskoye and Lodochnoye fields — collectively known as Vankor Cluster.

Later, Indian Oil Corporation (IOC), Oil India (OIL) and Bharat PetroResources (BPRL), a unit of Bharat Petroleum Corporation, came in using (Read More)

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