ONGC, Russia's Rosneft may join forces to send oil to India.

Rosneft NK OAO, the world's top listed oil producer by output, may join forces with Indian state-run Oil and Natural Gas Corp. Ltd. (ONGC) to supply oil to India over the long term, the Russian state-controlled company said recently.

It said both companies, which work together on Russia's Sakhalin-1 project, may also join forces in Rosneft's yet-to-be built liquefied natural gas plant in the far east of Russia to the benefit of Indian consumers of LNG.

Rosneft, which is increasing oil flows to Asia to diversify away from Europe, did not provide additional details but said it had discussed potential cooperation with Reliance Industries Ltd. and Indian Oil Corp. Ltd. Reuters


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