Putin Order To Transfer Of Sakhalin-1
Oil Project to Russian entity
India role in project to be retained?
Delhi to weigh Moscow future offer
India actively monitoring Saudi
Asia premium over oil prices
India will weigh what Russia has to offer on Sakhalin-1 ownership revamp .
Union petroleum minister has said India maintains a Healthy dialogue with Russia .
Speaking to reuters hardeep puri claimed India will look at what is the state of play . His remarks came following meetings with U.S Oil executives in Houston. Russia last week issued a decree allowing it to seize exxon mibil 30% stake .
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Russian state-run company was given the authority to decide whether foreign shareholders including India ONGC Videsh can retain their participation in the project .
ONGC Videsh which held 20% stake is also invited to apply to take stakes of similar size in the new operator within the period of one month according to the new decree .
Meanwhile responding to opec crude oil output hardeep puri said .
India is actively monitoring Saudi Arabia Asia premium over oil prices .
OPEC+ Has agreed to cut oil production by 2 million barrels/day beginning next month .
Referring to global energy balance and the unintended consequences of the OPEC decision hardeep puri told reuters that in the end consumers start playing a role .
Union petroleum minister added that too high oil prices could exacerbate inflation and tip the global economy in recession ,reducing oil demand .
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