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Indian Companies Mull Buying Russia's Rosneft Share

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Rosneft - Sputnik International
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Indian companies are studying the possibility of buying Rosneft's share package, the local petroleum minister said.

MOSCOW (Sputnik) — Indian companies are considering purchase of the Russian oil producer Rosneft's share package, Indian Petroleum and Natural Gas Minister Dharmendra Pradhan said Thursday.

"Russia is looking to divest some stake in Rosneft. We will look at that also," Pradhan was quoted as saying by The Hindu Business Line.

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New Delhi plans to fund the natural gas extraction project of the energy giant Gazprom on the Russia's Yamal peninsula as well, the Indian minister added.

Pradhan's comments came after he attended the St Petersburg International Economic Forum (SPIEF) held on June 16-18.

Earlier in June, Indian Oil and Natural Gas Corporation's CEO Narendra Kumar Verma indicated intention to allocate a total of $5 billion for energy projects in Russia in 2016.

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