MOSCOW. (Igor Tomberg for RIA Novosti) -...

Rosneft's official report says the two companies were encouraged by their positive partnership in the Sakhalin-1 project. ONGC will manage its operations through its overseas arm - ONGC Videsh Ltd. (OVL).

The power industry is the most promising field in bilateral strategic partnership. But this is not a bow to fashion. Cooperation is rooted in history. When India was badly short of energy after gaining independence in 1947, Soviet experts helped their Indian colleagues not only to prospect for oil, drill wells, and produce it, but also built the Indian power industry infrastructure. Oil refineries were constructed in Ranchi, Koyali, Barauni, and Mahtura. As a result, the Soviet Union became India's number one supplier of crude oil, and India became its biggest trade partner among the developing countries.

In October 2000, Russia and India signed an agreement on bilateral strategic partnership, which revived the idea of large-scale energy cooperation. Owing to

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