STATE-RUN ONGC VIDESH (OVL) may incorporate a subsidiary in the GIFT International Financial Services Centre in Gujarat soon to hold its Russian oil assets.
The move follows the inability of OVL's Singapore holding arm to receive dividends from the oil assets due to the sanctions on Russia. Including Russia, OVL owns participating interests in 32 oil and gas assets in 15 countries.
OVL did not respond to email queries sent to the company.
The outbreak of the RussiaUkraine war last year created a fresh round of headwinds for OVL, which a section of the government feels has not been able to reap the benefits of its substantial holdings in oil assets overseas.
Bu hikaye Financial Express Mumbai dergisinin October 27, 2023 sayısından alınmıştır.
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Bu hikaye Financial Express Mumbai dergisinin October 27, 2023 sayısından alınmıştır.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
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