ONGC Videsh raises $1.2 bn in foreign loans 
State-owned ONGC Videsh (OVL) has reportedly taken a loan of $1.2 billion from various foreign banks to fund its acquisition of a 15% stake in Russia's Vankor oil field. The deal was struck with Russian government-owned Rosneft for $1.268 billion in September 2015. Further, OVL has also signed an initial agreement to raise stake in the oilfield to 26%. 