PetroNeft sells 50% of its oil company in the Tomsk region to Oil India

The Irish PetroNeft has concluded a deal on the sale of 50% in Stimulus-T - the only oil producing asset of the company – to the Indiancompany, Oil India, the news agency Interfax-ANI reports. According to the PetroNeft’s report, the transaction was concluded on July 3rd. The regulator gave its approval on June 30th. PetroNeft has already received the first tranche from the sale of a half of its stake from Oil India in the form $35 million. The oil company transferred the funds to repay all its debts. "The whole duty to Macquarie and Arawak (one of PetroNeft’s shareholder) was paid from the $35 million received , and the company is currently free from debts," – the reports says.