Economy

Looking at ways to bring Russian crude oil into India: Pradhan

Our Bureau New Delhi | Updated on June 19, 2019 Published on June 19, 2019

Minister for Petroleum and Natural Gas, Dharmendra Pradhan   -  PTI

India and Russia are looking at means to boost partnerships in the hydrocarbon sector.

“We reviewed the progress of Indo-Russian projects like Sakhalin-1, the Gazprom-GAIL deal, the investments in Vankorneft and Taas-Yuryakh,” Minister for Petroleum and Natural Gas, Dharmendra Pradhan said after a meeting with Russia’s deputy Prime Minister Yury Trutnev.

“We are looking at means to bring Russian crude to India and further the investment partnerships. Russia has already invested in India through Nayara Energy,” Pradhan told BusinessLine.

Trutnev is on a visit to India to boost bilateral trade between the two countries. Earlier this week, he invited Indian investments in the Russian Far East region with an aim to strengthen ties between the nations.

Indian consortium of public sector undertaking companies have invested in Vankorneft and Taas-Yuryakh in Russia. Russian companies invested in India through the acquisition Essar Oil (now Nayara energy).

Both Russian and Indian companies have been keen on cooperation in the field of LNG.

Published on June 19, 2019
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