Hindustan Times | India-Russia 'Oil Diplomacy': Moscow to retain ONGC Videsh's role in project? Delhi awaits offer

Oct 11,2022

Union Petroleum Minister Hardeep Puri has told Reuters that India will weigh what Russia has to offer over Sakhalin-1 oil project's ownership revamp. He added that India maintains a healthy relationship with Russia. Vladimir Putin issued a decree last week, allowing Russia to seize Exxon Mobil's 30% stake and gave a state-run company the authority to decide whether foreign shareholders including India's ONGC Videsh can retain their participation in the project.