According to a report by India’s Economic Times on the 29th, the Indian Ministry of Petroleum conveyed its intention to five state-owned oil companies including Indian Oil Corporation and Bharat Petroleum Resources Limited last week, requiring state-owned energy companies to evaluate the purchase of European and American oil giants and the sale of their oil projects in Russia. Possibility of shares.
BP announced that it would give up its 19.75% stake in Rosneft. ExxonMobil said on March 1 it would exit about $4 billion in assets and terminate all of its Russian operations, including the Sakhalin 1 project in Russia’s Far East.
India’s oil ministry has asked the overseas investment arm of Indian Oil and Gas Corporation to consider buying ExxonMobil’s 30% stake in the Sakhalin 1 project in Russia’s Far East. ExxonMobil is the operator of the project, and the Indian company already held a 20% stake in the project.
India is the world’s third largest oil importer and consumer, relying on imports for 85% of its daily crude oil demand of 5 million barrels.
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