India's imports of Russian crude is a win-win situation for the world's oil markets, said Oil and Natural Gas Corporation Ltd , India's No. 1 oil company.
By importing from Russia, ONGC said that India has helped the global economy by freeing up some oil on the Gulf for other countries to import. SINGAPORE — India's imports of Russian crude is a win-win situation for the world economy, according to India's No. 1 oil company, Oil and Natural Gas Corporation.
"By importing from Russia, India also has helped the global economy in the sense that [we] freed up some oil on the Gulf for other countries to source, particularly Europe. So it was kind of a win-win situation," K.C. Ramesh, executive director of ONGC said at the annual APPEC energy conference held by S&P Global Insights in Singapore.