India asks state-run firms to consider buying Russian oil assets

India has asked 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 it is abandoning its 19.75% stake in Rosneft.

The oil ministry last week conveyed its intent to ONGC NSE -0.36 % Videsh Ltd (OVL), Indian Oil Corp NSE -0.50 %., Bharat Petro Resources Ltd (BPRL), Hindustan Pertoleum’s subsidiary Prize Petroleum Ltd, Oil India Ltd and GAIL NSE 1.74 % (India) Ltd, the sources said.

The oil ministry last week conveyed its intent to ONGC Videsh Ltd (OVL), Indian Oil Corp., Bharat Petro Resources Ltd (BPRL), Hindustan Pertoleum’s subsidiary Prize Petroleum Ltd, Oil India Ltd and GAIL (India) Ltd, the sources said.


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