RE: ONGC India, ENTITY ?.22 Jul 2025 19:13
I don't know why Abzzba is posting this news to imply it's good, perhaps he hasn't thoroughly investigated the complex geo political aspect of it.
Mongolia is a nation heavily reliant on China for it's trade and economy. China have already made it clear on the global stage that they are backing Pakistan over India on their conflicts.
So...by Mongolia even thinking about doing business with India is like a slap in the face for China.
Mongolia, in my opinion, would no way make the final call without China's nod. There are games being played in the background perhaps, and Matad are facing a lot of issues could also be because MB doesn't really understand the relationship in which he can negotiate a deal.
The tax issue imposed by the Mongolian Government could be to block Matad's advancement.
Matad, perhaps foolishly thinks they can operate in a foreign country and change the local rules and shift the power of balance.
Refinery, yes, but a buyout from an Indian company, I don't see that happening unfortunately.
China will rather let Matad, the incompliant bankrupt, than let it do business with India when China on the global stage have said they would back Pakistan.
Imho and DYOR