TFIGlobal
TFIGlobal
TFIPOST English
TFIPOST हिन्दी
No Result
View All Result
  • Indo-Pacific
  • Americas
  • Canada
  • Indian Subcontinent
  • West Asia
  • Europe
  • Africa
  • The Caribbean
TFIGlobal
  • Indo-Pacific
  • Americas
  • Canada
  • Indian Subcontinent
  • West Asia
  • Europe
  • Africa
  • The Caribbean
No Result
View All Result
TFIGlobal
TFIGlobal
No Result
View All Result
  • Indo-Pacific
  • Americas
  • Canada
  • Indian Subcontinent
  • West Asia
  • Europe
  • Africa
  • The Caribbean

China was merrily usurping Russian firms. India swept in and stopped it

TFIGLOBAL News Desk by TFIGLOBAL News Desk
May 1, 2022
in Americas, China, Europe, Indian Subcontinent, Russia
China was merrily usurping Russian firms. India swept in and stopped it
Share on FacebookShare on X

India is reported to have instructed its State-owned energy companies to consider buying Russian oil assets. The development comes amidst the plans of Western companies to exit Russia and divest their stakes in Russian oil assets, and China’s plans to fill the vacuum through hostile takeovers of the Russian energy companies.

India is therefore looking to retain the much-needed balance in the global energy sector, while the Western world shamelessly abdicates its responsibility.

Also Read

Russia enraged with West’s missile escalation, claims “Europe once again gathering under the Nazi flag”

Russia: West committing piracy in the Baltics so we will break the blockade

West fuels the fire? Green light for Ukraine to use long range weapons, Russia warns that the move will drag in NATO

As per Reuters, two sources said that the Union government has asked State-run energy companies of buying European oil major BP’s stake in the Russian energy firm Rosneft.

The sources said, “BP has announced that it is abandoning its 19.75% stake in Rosneft. The oil ministry [Ministry of Petroleum and Natural Gas] last week conveyed its intent to ONGC Videsh Limited (OVL), Indian Oil Corporation, Bharat Petro Resources Limited (BPRL), Hindustan Petroleum’s subsidiary Prize Petroleum Limited, Oil India Limited, and GAIL (India) Limited.”

The Ministry has also asked OVL, the overseas investment arm of the State-run Oil and Natural Gas Corporation (ONGC), to consider buying a 30% stake held by Exxon Mobile Corp, in the Sakhalin 1 project located in the Russian Far East.

Exxon is the operator of the project but it has hinted at making an exit. OVL already holds a 20% stake in the project and could now try to tap into the vacuum that Exxon’s exit will create.

Indian State-owned firms Oil India, IOC, and BPRL, the exploration arm of State refiner Bharat Petroleum Corporation, already hold stakes in several Russian oil assets. They could now be eying discounted rates in Russian oil asset purchases, due to likely “distress sales” by Moscow amidst disinvestment by Western energy ventures and relentless sanctions.

source: the express tribune

Countering hostile Chinese takeover

India knows that China is looking to usurp Russian energy companies. It is already eyeing big Russian energy firms and assets like gas giant Gazprom and the Sakhalin-2 liquefied natural gas venture.

Three Chinese state-run energy companies are reportedly looking to buy Shell’s 27.5% stake in the Sakhalin-2 liquefied natural gas venture.

What we are looking at is a repeat of the events that followed the 2014 Crimea annexation by Russia. At that time, the US and the EU had announced some tough sanctions against Russia and had limited their business dealings with Moscow. Chinese investors were more than happy to fill the vacuum and had expressed interest in Russian oil and gas assets.

In 2017, a closely-held Chinese oil company even purchased a $9 billion minority stake in Rosneft PJSC. China, therefore, managed to get more deeply involved in the Russian energy industry. And after the Ukraine crisis, it is eyeing a total takeover of Russian oil and gas by purchasing some major assets. India however will not let China get a free run in the matter.

How India is balancing the global energy sector

Now, India’s increasing stake in the Russian energy industry won’t really be actuated by mere self-interest.

If India ends up buying oil assets in the Russian Far East, it would be a matter of much-needed relief for the Japanese too. Japan doesn’t want China to start knocking on its doors by expanding its presence in Russia’s Far East. Yet, Japan cannot buy Russian assets in the region because it is a US ally and cannot simply abandon Washington in its actions against Moscow.

Read more: China could end up controlling Japan’s gas and it’s all Japan’s mistake

Even for Europe, India’s involvement in Russian energy is a major relief. If China takes over the Russian oil and gas industry, it will start coercing the EU by threatening to switch off Russian gas supplies to the Continent.

Read more: Emboldened by Russia, Algeria plans to halt gas supplies to Europe

However, India’s control of the Russian energy sector is bound to help retain some degree of balance and undisputed flow in energy supplies.

New Delhi is therefore defusing Beijing’s plans of a hostile takeover in Russia. And this is good news for the entire world.

Tags: ChinaEnergy Sectorglobal energy crisisIndiaRussiaUSA
ShareTweetSend
TFIGLOBAL News Desk

TFIGLOBAL News Desk

Right Arm. Round the World. Fast.

Also Read

King Charles in Canada: A Visit to Support Canadian Sovereignty

King Charles in Canada: A Visit to Support Canadian Sovereignty

May 27, 2025
Massive Loggerhead Sea Turtle ‘Pennywise’ Rescued After Boat Strike Off Florida Coast

Massive Loggerhead Sea Turtle ‘Pennywise’ Rescued After Boat Strike Off Florida Coast

May 26, 2025
Germany readies for military conscription as media reports say German public wants to take on Russia

Germany readies for military conscription as media reports say German public wants to take on Russia

May 26, 2025
Why Are Knife Attacks Spiking in Germany?

Why Are Knife Attacks Spiking in Germany? The Pattern No One Wants to See

May 24, 2025
Trump Threatens 50% Tariff on EU Imports, Sparking Concerns

Trump Threatens 50% Tariff on EU Imports, Sparking Concerns

May 24, 2025
Telegram founder to prove EU and France interference in Romania? As Simion wants election results nullified

Telegram founder to prove EU and France interference in Romania? As Simion wants election results nullified

May 22, 2025
Youtube Twitter Facebook
TFIGlobalTFIGlobal
Right Arm. Round the World. FAST.
  • About Us
  • Contact Us
  • TFIPOST – English
  • TFIPOST हिन्दी
  • Careers
  • Brand Partnerships
  • Terms of use
  • Privacy Policy

©2025 - TFI MEDIA PRIVATE LIMITED

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Add New Playlist

No Result
View All Result
  • Indo-Pacific
  • Americas
  • Canada
  • Indian Subcontinent
  • West Asia
  • Europe
  • Africa
  • The Caribbean
TFIPOST English
TFIPOST हिन्दी

©2025 - TFI MEDIA PRIVATE LIMITED

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. View our Privacy and Cookie Policy.