<h1>ONGC Videsh acquires 11% stake in Russia's JSC Vankorneft for $930M, boosting India's energy security and tech access.</h1> The Cabinet Committee on Economic Affairs approved ONGC Videsh Limited's acquisition of an 11% stake in JSC Vankorneft from Rosneft, Russia's National Oil Company, for $930 million. This acquisition is expected to yield 3.2 million metric tons of oil equivalent for OVL by 2017 and offers Indian public sector companies access to new technologies. This move aligns with ONGC's strategy to enhance India's energy security by expanding its international exploration and production portfolio. Previously, an Indian consortium acquired a 23.9% stake in Vankorneft, and OVL had already secured a 15% stake earlier in 2016.