SEBI Reg. Investment Advisor

Download App

MoneyWorks4Me

ONGC’s arm proposes to retake 20% stake in Russia's Sakhalin-1: Source

18 Oct 2022 Evaluate

Oil and Natural Gas Corporation's (ONGC) overseas arm -- ONGC Videsh (OVL) -- is reportedly making a proposal to retake 20% stake in Russia's Sakhalin-1 oil and gas project in the far east.

Russian President Vladimir Putin earlier this month disbanded Exxon Neftegaz - a regional subsidiary of US supermajor ExxonMobil - as operator of the Sakhalin-1 and transferred the project and all of its assets and equipment to a new operator. Sakhalin-1 is OVL's cash cow and without the project, the company will be a loss-making entity. Production from Sakhalin-1 stopped in May after Exxon Neftegaz declared force majeure at the project in response to international sanctions imposed on Russia following its invasion of Ukraine in February. Since then, OVL is facing cash issues.

ONGC is India’s largest government-run corporation and produces about 70% of India’s crude oil and natural gas. The corporation is the biggest public sector commercial organization in India.

ONGC Share Price

283.95 1.20 (0.42%)
17-Apr-2026 16:59 View Price Chart
Peers
Company Name CMP
ONGC 283.95
Oil India 470.10
Jindal Drilling&Inds 540.15
Deep Industries 476.90
Asian Energy Service 306.05
View more..

About MoneyWorks4Me

MoneyWorks4Me is a SEBI-registered Investment Adviser (IA) dedicated to helping investors build long-term wealth through transparent, research-driven, conflict-free guidance. Founded in 2008, we started our journey as a Research Analyst (RA), providing deep fundamental analysis, intrinsic value insights, and long-term investing frameworks for Indian equities. In 2017, we transitioned to a full-fledged SEBI-registered Investment Adviser, strengthening our commitment to acting as a fiduciary—always putting the investor’s interest first.

Our Vision

To become India’s most trusted, research-powered fiduciary advisory platform—where every investor, regardless of experience, can make calm, confident, and well-reasoned investment decisions.

What Makes MoneyWorks4Me Different

Our Approach: Ensuring compounding work its magic on client portfolio.

MoneyWorks4Me ensures this through:

×