Indian ONGC Set to Keep Stake in Russia’s Sakhalin-1 Oil Project
India’s Oil and Natural Gas Corporation Limited (ONGC) is moving to keep its 20% stake in the Sakhalin-1 oil project in Russia after the Kremlin allowed the Indian state-run company to pay its contribution to the project’s abandonment fund in rubles from the frozen dividends it is due, sources with knowledge of the plans told Reuters on Friday. ONGC Videsh, the overseas unit of Oil and Natural Gas Corporation Limited (ONGC), has a 20% interest in the project, but contribution to the abandonment fund, one used for decommissioning…