Indian firms eyeing Russian oil assets? Report reveals Centre’s ‘advice’

A Reuters report has claimed that centre has asked Indian oil firms to consider buying Russia oil assets. The report further states example of European oil major BP, who recently announced that it was abandoning 19.75% stake in sanctions-hit Russian firm Rosneft. Sources cited in the Reuters report said that Ministry of Petroleum and Natural Gas conveyed its intent to ONGC Videsh Limited (OVL), Indian Oil Corporation, Bharat Petro Resources Limited (BPRL), Hindustan Pertoleum’s subsidiary Prize Petroleum Limited, Oil India Limited and GAIL (India) Limited last week. Watch this video for more details.