![](https://image.chitra.live/api/v1/wps/c8834b8/1104ad48-51e1-4256-afeb-85b740407571/1/mergers-acquisitions5740-343x220.jpg)
Recently, an Indian Consortium comprising of Oil India Limited (OIL), Indian Oil Corporation Limited (IOCL) and Bharat PetroResources Limited (BPRL) acquired 23.9% stake in Vankorneft at a cost of US $ 2020.35 million which will give them 6.56 MMTOE. Earlier in May 2016, ONGC Videsh Ltd (OVL) completed the formalities on acquisition of 15% stake in Vankorneft at a cost of US $ 1.284 billion which gave OVL 4.11 MMTOE.
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