Centre asks state-run companies to consider buying Russian oil assets
India has asked state-run energy companies to evaluate the possibility of buying European oil major BP’s stake in sanctions-hit Russian firm Rosneft, two people familiar with the matter said.
BP has announced it is abandoning its 19.75% stake in Rosneft.
The oil ministry last week conveyed its intent to ONGC Videsh Ltd (OVL), Indian Oil Corp., Bharat Petro Resources Ltd (BPRL), Hindustan Pertoleum’s subsidiary Prize Petroleum Ltd, Oil India Ltd and GAIL (India) Ltd, the sources said.
Indian companies and the oil ministry did not respond to Reuters emails seeking comment.
