The Union government has asked the state-run energy companies to evaluate the possibility of buying European oil major BP’s stake in sanctions-hit Russian firm Rosneft,” two people familiar with the matter said.
“BP has announced that it is abandoning its 19.75% stake in Rosneft. The oil ministry [Ministry of Petroleum and Natural Gas] last week 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,” the sources said.
While Western nations have imposed sanctions against Russia over the war in Ukraine, India has not explicitly condemned Moscow's actions.
