Oil and Natural Gas Corporation (ONGC) is not receiving its share of oil from Russia’s Sakhalin-1 oil field anymore, an Economic Times (ET) report said. However, ONGC will continue to receive dividends from the field, said the report.
Notably, ONGC holds a 20 per cent participating interest in Sakhalin-1 and it used to get one-fifth of the oil production from the field. However, with the onset of war in Ukraine last year, all the oil produced at Sakhalin-1 is being sold to a new company set up by Russia last year.
The field is operating at its normal capacity after a stoppage for several months due to the war.
