India and Russia discuss expanding cooperation in energy sector
India and Russia on Friday discussed expanding cooperation in the energy sector as New Delhi looks at newer sources of oil and natural gas to diversify its import basket.
Oil Minister Hardeep Singh Puri held a video interaction with Russian Energy Minister Nikolay Shulginov on furthering energy cooperation between the two nations, the Indian minister tweeted.
India’s cumulative investment in oil and gas projects in Russia exceeds USD 15 billion. It is the single largest destination of Indian overseas investment in the oil and gas sector.
Russian oil giant Rosneft and its partner in 2017 bought Essar Oil, renamed Nayara Energy, for USD 12.9 billion.
