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Sovereign Wealth Funds Briefing - Categorized | Fund Profile/New Launches, Reserve Currencies

War chest to buy energy assets abroad

Posted on 18 March 2010

From Telegraphindia.com: India is planning to set up a sovereign fund of about $20 billion to help state-owned ONGC to compete with its Chinese rivals in acquiring oil and gas assets abroad.

The oil and finance ministries are currently discussing the proposal in the backdrop of ONGC’s failure to acquire any assets last year and Beijing marching ahead, a senior oil ministry official said………………………………..Full Article: Source


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