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

Schemes by NDA government status.

By
Ujjwala Yojna :- Objective - The scheme is aimed at replacing the unclean cooking fuels mostly used in the rural India with the clean and more efficient LPG Target - 1.56 crore BPL families Achievement - 1 crore BPL families till date Rural Electrification :- Objective - Rural electrification is the process of bringing electrical power to rural and remote areas. Target - 18,452 villages Achievement - 10,829 villages electrified till date Jan Dhan Yojna Objective - Financial Inclusion to ensure access to financial services, namely Banking Savings & Deposit Accounts, Remittance, Credit, Insurance, Pension in an affordable manner. Achievement - 25.51 crore account opened till date Mudra Yojna Objective - (MUDRA) Bank is a new institution being set up by Government of India for development and refinancing activities relating to micro units.The purpose of MUDRA is to provide funding to the non corporate small business sector. Target- 5.75 crore Achievem...
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

Coal auction: Govt upbeat of earning more revenue than CAG's loss estimate of Rs 1.86L cr

By
The auction for coal blocks began aggressively with Anil Ambani's Reliance Cement bagging a block with a bid of Rs 1,402 per tonne, more than nine times the floor price of Rs 150, prompting the government to call it a grand success that would generate more revenue than the Comptroller and Auditor General of India's (CAG's) estimate of Rs 1.86 lakh crore lost by free distribution. GMR Energy won the Talabira -I coal block in Odisha with a very aggressive bid of Rs 478 per tonne. Adani Power, Essar Power, Sesa Sterlite, GMR Energy and OPG Power Generation were eyeing the Talabira-I block previously allotted to Hindalco. Industry experts say companies were desperate to ensure fuel for plants and had made unsustainable bids in the online auction that kicked-off on Saturday. Reliance Cement bagged the Sial Ghogri underground mine in Madhya Pradesh, beating Hindustan Zinc and OCL Iron & Steel for the block earlier held by Prism Cement. For the other mine on offer, Talabi...
Post a Comment
Read more