Under condition of anonymity, an ONGC official speaking to AFX News admitted, “There is an understanding to that effect and we are bidding for Yukos assets. Since it is an international bidding, I can’t give other details.”
The report is further given credence by a report in India’s Economic Times business daily which stated Gazpromneft is the ideal partner for India due to Russia’s and India’s historically close relationship and the fact, as reported earlier by EnergyReview.net, the Indian government has given ONGC and state rival Indian Oil Corp the green light to bid for Yukos assets.
However, it is understood Russia’s reformist economy minister German Gref is attempting to halt Gazpromneft from bidding for Yuganskneftegaz.
