INDIAN OIL CORPORATION LTD. - Updates

Indian Oil Corporation Ltd has informed BSE that Indian Oil Corporation Limited (IOCL), Oil India Limited (OIL), and Bharat PetroResources Limited (BPRL), acting jointly as the Indian Consortium, signed definitive agreements on March 16, 2016 to acquire participatory shares representing 29.9% of the charter capital of LLC "TYNGD", a company organized under the law of Russian Federation, from LLC RN Upstream, a wholly-owned subsidiary of Rosneft Oil Company, the National Oil Company (NOC) of Russia. The acquisition is subject to relevant Board, Government and regulatory approvals and is expected to close by September 2016.