News: As per The Economic Times, in the medium term, Indian Oil and gas companies are expected to book impairment losses on their Russian assets, due to imports bans and constrain on FCF generation capacities on their upstream assets.
Views: For IOC and BPCL, the Russian assets accounted for less than 5% and 2-4% of their total asset bases and dividend income, respectively (FY21). However, for ONGC, assets accounted for ~12% and 20% of production volumes and proved reserves (FY21) while for Oil India this proportion was at ~31% and ~24%, respectively.
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