October 12, 2016 / 11:16 AM / 10 months ago

ONGC says wants to increase presence in Russia

Oil and Natural Gas Corp's (ONGC) wells are pictured in an oil field on the outskirts of the western city of Ahmedabad, India, March 16, 2016.Amit Dave/Files

MOSCOW (Reuters) - India's ONGC is interested in increasing its presence in the Russian market, the company's Chief Executive Officer Narendra K. Verma said on Wednesday.

He said that supply of crude oil in the global market exceeds demand by around 1.2 million barrels per day.

Reporting by Katya Golubkova and Alexander Winning; Writing by Andrey Ostroukh; editing by Vladimir Soldatkin

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