India requires its companies to buy a share of British and American business in the Russian oil and gas sector
- May 06
The Indian authorities intend to use the possibilities for buying a BP share in Rosneft and the Exxonmobil share in the Sakhalin-1 project. A share of BP in the Russian company was offered to redeem several Indian companies, and the share of Exxonmobil - OVL company. Earlier, Western corporations announced their intention to leave the Russian energy sector.
The British company BP at the end of February announced the intention to sell its 20% in the Russian company Rosneft.
To make such an unprofitable decision “forced” the company parliament. This step may have very serious consequences for the corporation in the form of colossal losses. After all, the share in Rosneft was the most profitable asset for BP.
Also, the American company Exxonmobil decided to get rid of its 30% in the project for the extraction and liquefaction of Sakhalin-1 gas, which was stated in March of this year.
But, as you know, a holy place is not empty. The Indian government turned to OVL, which owns 20% in the Far Eastern Shelf project "Sakhalin-1". It invited her to evaluate the possibility of acquiring another 30% in the project from Exxonmobil.
And the share of BP at Rosneft was offered to buy one of the Indian companies.
The Indian government made it clear to the leadership of the United States and Great Britain that they were not going to stop the purchase of Russian energy carriers. Moreover, India authorities are determined to expand economic cooperation with Russia in the energy sector. After all, as you know, India is one of the largest oil consumers in the world. It imports about 85% of oil consumed.
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By the way, the Indian government intends to acquire a share of American and British companies at a discount, calling potential transactions “selling a crisis”.
The only country that in the current political situation is able to buy these assets is China. It should be noted that specifically in this case, competition between China and India is not observed.
It is known that the Chinese government plans to buy a share of the British company Shell in the Sakhalin-2 project. At the same time, China also counts on a significant discount.
Most likely, countries pursue a coordinated policy with the Russian authorities, the purpose of which is the purchase of assets from Western companies at very favorable prices. Doesn't this impression get?
What do you think, for which foreign corporations forced such desperate steps, because these assets will still buy other companies? What is the plan? Or maybe there is no plan?
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