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Russian state-owned oil firm Rosneft has signed a deal worth $13bn (£10bn) a year selling oil to Indian refiner Reliance in a blow to sanctions against Vladimir Putin’s government.. The 10-year ...
Oil minister Hardeep Singh Puri said Russian oil accounted for about 0.2% of India's overall crude imports prior to the Ukraine war. Russian oil now accounts for over a third of Indian oil imports.
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Oil India was formed in 1959 to operate this new field and other nearby concessions, with Burmah Oil holding 2/3rd equity holding and Government of India holding 1/3rd equity. Later in 1961, this was changed to 50/50 shareholding. In 1982, Burmah Oil transferred all its shares to Government of India and Oil India became 100% Government owned.
The Oil and Natural Gas Corporation Limited (ONGC) is an Indian central public sector undertaking which is the largest government-owned oil and gas explorer and producer in the country. It accounts for around 70 percent of India's domestic production of crude oil and around 84 percent of natural gas .
Gupta said his company could float a mini term tender in March seeking U.S. oil cargoes for up to six months, as higher premiums on Middle Eastern spot oil have made U.S. crude more attractive.
The 2020 Assam gas and oil leak, also referred as the Baghjan gas leak, was a blowout and methane leak that happened in Oil India Limited's Baghjan Oilfield in Tinsukia district, Assam, India on 27 May 2020. The blowout occurred at Well No. 5 in the Baghjan Oil Field, resulting in a leak of natural gas.