Skip to main content

RT: India acquires stake in Russian oilfields

By
Since the Western nations’ sanction on Russia, Russia has been forced to pivot towards Asia — primarily India and China. It’s an opportune time for India to bargain and lap up some stake in Russian oilfields and to increase its stake of overseas energy fields. ONGC Videsh had already acquired a 15% stake in Rosneft’s JSC Vankorneft. Now, it has increased its stake to 23.9%.
A consortium of Oil India Limited, Indian Oil Corporation Limited and Bharat Petro Resources Limited (BPRL) will acquire 23.9 percent stake in JSC Vankorneft and 29.9 percent stake in LLC Taas-Yuryakh from Rosneft Oil Company, the National Oil Company of Russian Federation.
It will also provide an opportunity to Indian public sector Oil and Gas companies to absorb newer technologies with Rosneft and British Petroleum (BP). BP acquired 20% stake in Taas-Yuryakh from Rosneft last year.
Read on: India to acquire stake in Russian oil fields, to invest US $3.2 billion - RTN.ASIA
India imports 80% of its energy needs. Government of India’s stated plan is to cut this figure by half by 2030 through overseas upstream investments. India has upstream concessions in South China Sea, Iran, Russia and is looking it widen its radar to the African continent.
This would be a nice time to privatize the downstream refining capacity and let the market take hold and completely remove the subsidies, but what do I know!?
There seems to be a lot of chatter in the Indian left about India losing its goodwill and alliance with Russia and Russia retaliating with a military exercise with Pakistan. Meh!
As I said here:
Moreover, India's needs have changed. We have gone from staving off droughts and food shortage, needing aid and technological assistance to requiring global partnerships for security, trade, markets, and energy needs and security. Today, ISRO's work might put us on the global map as a hot destination to launch rockets to space in a cost-effective way. As interests change, our alliances should reflect it.That is not to say, India does not maintain an optimal relationship with Russia. It does, as it does with every other country in the world, say barring Pakistan. Absolutely nothing or no one stops Russian companies from investing in India or trading with India. It's just that they have very little to offer us. Chandru Pandian D's answer to Is India inclining towards US over BRICS nation, especially Russia? If so, shouldn't India recall history?
India’s energy needs is one place Russia has a lot to offer. With the sanctions on Russia, India should see it as an opportune time and move aggressively towards securing high quality oil interests that it has to offer.
Source:- RT: India acquires stake in Russian oilfields by Chandru Pandian D on My Quora Pocket
Thanks:- Chandru Pandian D
Labels:

Comments

Post a Comment

Popular posts from this blog

Nitin Gadkari Report Card

By
1  Road projects worth Rs 50,000 cr to start this year in UP: Gadkari   2  200 cr trees to be planted along highways: Gadkari 3  Rs 10 Lakh Cr Investment in Highways, Shipping by 2019: Gadkari 4  Stuck Rs 1.8lakh crore road projects to be launched by Aug15: Nitin Gadkari 5  Electronic toll system can help save Rs 86K crore annually: Nitin Gadkari 6  Nitin Gadkari aims at 30 kilometre road building a day by 2016 7  Gadkari clears Rs.17,700 crore projects for Bengal 8  Toll collections scrapped at 62 plazas in 15 states: Govt
Post a Comment
Read more

HRD minister proves her generosity and genuine concern towards education and real talent

By
Dharamraj works for a Surat mill and hardly manages to fend for his family of seven. When sons - Raju, 18, and Brijesh, 19, broke the news of their stellar performance to their dad, he didn't even know why it was such a big deal. Both his sons have cracked the IIT entrance test — Raju securing rank 167 and Brijesh 410. Dharamraj, a daily-wage earner, desperately needs Rs 1 lakh for their admission fees. But that's an astronomical sum, for he barely makes ends meet. Dharamraj and his family live in a rundown mud hut with a tarpaulin thatch at Rehua Lalganj village. Dharamraj owns eight goats, one cycle, and a table fan. They bagged scholarships to prepare for their IIT entrance. But now what? Where to raise the money from? I don't own a single inch of land," lamented Dharamraj. Both boys scored over 95% in their Class X exams, after which they were picked for a scholarship programme. HRD Minister Mrs. Smriti Irani has assured the IIT 2015 topper that his ent...
Post a Comment
Read more

Digital India :- Digital Saksharta Abhiyaan Scheme 46 lakh certified

By
DISHA was launched by PM in Jharkhand in 2014. The programme offers two-hour, 10-hour and 20-hour courses in local languages. This will help in training the people. GOI launched a programme to invest Rs 450-500 crore on providing basic computer education to about 50 lakh people over the next three years with the help of private companies in 2014. The investment will be made under a project called Disha in certain identified districts. The computer literacy programme is critical for Prime Minister Narendra Modi’s pet project, Digital India , which hopes to bridge the digital divide in the country. The government will choose the districts where this programme will be run. One person would be chosen from every eligible household for training. The main objective of the programme is to declare the selected blocks and districts 100 per cent digitally literate. Computer literacy will be key to the success of the project through which the government hopes to connect 2.5 lakh gram pan...
Post a Comment
Read more