The Sakhalin-1 oil project in Russia is back to producing its peak level of 200,000 barrels per day (bpd) of oil from zero, an Indian company that is part of the new venture operating the project has said. ONGC Videsh, the overseas unit of Oil and Natural Gas Corporation Limited (ONGC), hopes to reclaim its 20% stake in the project soon after some “terms and conditions” are met, managing director Rajarshi Gupta said at a press conference as carried by Reuters.
The Sakhalin-1 oil project hasn’t produced much oil over…Kazakhstan And China Discuss Expanding Oil Pipelines
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