ONGC fails to get bids in its tender to sell Russian oil: Report
NEW DELHI (Reuters) – India’s ONGC Videsh failed to get bids in its tender to sell 700,000 barrels of Russian sokol crude in a growing backlash against Moscow for its invasion of Ukraine, sources familiar with the matter said.
This was the first tender by ONGC Videsh, since the war in Ukraine began on Feb. 24.
ONGC Videsh, the overseas investment arm of India’s top explorer Oil and Natural Gas Crop, has a 20% stake in Russia’s Sakhalin-1 project and sells its share of oil through tenders.
