UANI

"Major Indian energy companies, including Oil & Natural Gas Corp., have been exploring how to jointly develop energy resources with Iranian partners." (AFP, "Indian oil giant optimistic over Iran supply," 1/6/11)

--

"The Indian government has asked its public sector oil firms to seek legal opinion on the impact of the latest round of US sanctions on Iran on their investment in the Persian Gulf nation, Oil Secretary S Sundareshan said here. The US administration had in May named Oil and Natural Gas Corporation, ONGC Videsh Ltd, Oil India Ltd, IndianOil, Hinduja Group and Petronet LNG among the 41 firms worldwide having energy ties with Iran, an act for which it may impose sanctions on them." (Financial Express, "Oil PSUs seeking legal opinion on Iran sanctions," July 22, 2010)

--

"India's Oil and Natural Gas Corp (ONGC.BO) and the Hinduja group will jointly get a 40-percent stake in Iran's South Pars-12 project, Managing Director of Iran's national oil company Seifollah Jashnsaz said." (Reuters, "India, Angola cos to get stake in Iran project," 12/1/09)

--

"The enormous New York State Common Retirement Fund plans to divest $86.2 million in investments from nine companies doing business in Sudan and Iran...The decision comes after two years of reviewing these companies, the potential risk of the investments and, in some cases, humanitarian efforts in these countries."We don't expect our investments to benefit regimes that support genocide and terrorism," said DiNapoli.  The fund plans to divest out of $86 million in Gazprom (OGZPY), Inpex (1605.TO), Lukoil (LUKOY), Oil And Natural Gas Corp (500312.BY), OMV (OMVKY), Petroleo Brasilia (PBR), Statoil (STO), Wartsila OYJ and Sinopec Corp. DiNapoli said the firms were chosen because "they failed to respond or we were not satisfied with their responses" when asked to provide information to the fund on the investments and their risks." (Dow Jones Newswires, "NY Comptroller To Divest $86.2M In State Pension Fund Investments," 6/30/09)

--

"India's ONGC, along with Indian Oil Corp and state-owned Oil India, has announced plans to pursue a $5 billion project to develop the Farzad field in the Gulf.  For ONGC's part, they hold a 40% interest in the consortium." (Reuters, 6/26/2009)