India rushes to Russia to wage war against Chinese take over of oil deal – cites unfair bidding process
Babu Ghanta
Aug. 24, 2005

India finally got the wake up call as China clinched the oil deal over India through unfair bidding process.

According to media sources, Oil and Natural Gas Corp is still hoping to clinch the deal for takeover of Petrokazakhstan, with senior officials dashing-off to Russia to get Lukoil to stop the company's sale to China's CNPC.

Lukoil, Russia's largest oil producer, is a partner of Petrokazakhstan and has the right to block CNPC's deal, which ONGC contends was struck through an ''unfair'' bidding process.

The Indian government has, however, stayed out of the Petrokazakhstan affair till now and refused to use diplomatic channels for ONGC.

"We are not in it. It is a commercial deal between ONGC and Petrokazakhstan and ONGC is looking at ways to re-enter the race," a top official in Petroleum and Natural Gas Ministry said.

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