Cabinet clears $3.14bn stake buy in Russian oilfields
The Cabinet on Wednesday cleared a $3.14 billion (around ₹21,000 crore) stake buy in two Russian oilfields by a consortium of Indian Oil, Oil India, and BPCL, an official statement said. The consortium will buy 29.9% and 23.9% stake in the two oilfields. The acquisition aims to add high-quality exploration and production assets, thereby augmenting India's energy security, it said.