India's ONGC expands Russian footprint
The Oil and Natural Gas Corporation has taken a 15% stake in the Vankor oilfield
India’s Oil and Natural Gas Corporation (ONGC) has taken a 15% stake in Rosneft’s prolific Vankor oilfield as part of its accelerating global expansion drive. The sale price has not been officially announced, but local media reports peg the deal at between $1.275bn and $1.35bn for the East Siberian field, Russia’s biggest discovery in the past 25 years, and smaller clusters. It will be ONGC’s third major investment in Russia’s upstream, after Sakhalin-1, largely considered a success, and its acquisition of Imperial Energy, purchased when oil prices were at a peak, and widely seen as a failure, said Abhishek Agarwal, an India-focused energy analyst at investment bank Macquarie. Given the timi
Also in this section
18 February 2026
The global gas industry is no longer on the backfoot, hesitantly justifying the value of its product, but has greater confidence in gas remaining a core part of the global energy mix for decades
18 February 2026
With marketable supply unlikely to grow significantly and limited scope for pipeline imports, Brazil is expected to continue relying on LNG to cover supply shortfalls, Ieda Gomes, senior adviser of Brazilian thinktank FGV Energia,
tells Petroleum Economist
17 February 2026
The 25th WPC Energy Congress, taking place in Riyadh, Saudi Arabia from 26–30 April 2026, will bring together leaders from the political, industrial, financial and technology sectors under the unifying theme “Pathways to an Energy Future for All”
17 February 2026
Siemens Energy has been active in the Kingdom for nearly a century, evolving over that time from a project-based foreign supplier to a locally operating multi-national company with its own domestic supply chain and workforce
