Pradhan hits back at Jairam Ramesh, reminds him of Imperial Energy fiasco
Oil minister Dharmendra Pradhan has raked up an eight-year-old deal in which Oil and Natural Gas Corporation (ONGC) acquired Imperial Energy in Russia for $2 billion to counter criticism by Congress leader Jairam Ramesh of a recent agreement by ONGC to buy GSPC’s gas field in the KG Basin.
The Imperial Energy deal, struck during the previous Congress-led government, has turned out to be a dud, inviting criticism from the national auditor.
“Jairam Ramesh should tell us which benchmark was used to purchase Imperial Energy. What Internal rate of return (Imperial) is giving?” Pradhan said Read more