Indian oil companies eye up to $1.9bn for Russia oilfields

By Shruti Chaturvedi
07 Jul 2016

Three Indian state-owned oil companies have hit the loan market for fresh money to support their joint acquisition of oil fields in Russia. Several banks are keen to submit bids but the adverse impact from US sanctions on Russia could pose a challenge, writes Shruti Chaturvedi.

Bharat Petroleum Corp, Indian Oil Corp and Oil India have sent out separate requests for proposals for loans of up to a combined $1.9bn to finance their joint acquisition of stakes in oilfields in the eastern European country.

Oil India is eyeing the highest amount of $650m ...

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