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(From BBC Monitoring International Reports)
Text of report by Indian news agency PTI
New Delhi, 2 November: Taking a cue from the recent pact between Russia's Rosneft and CNPC of China, India's state-run Oil and Natural Gas Corp (ONGC) has proposed an exploration venture with Russian state-run firms to explore for oil in that country.
"We have proposed a joint venture with either Rosneft or Gazprom or both for exploration and production of oil and gas," said R.S. Butola, managing director of ONGC's overseas arm, ONGC Videsh Ltd [OVL].
Like the OAO Rosneft-China National Petroleum Corp venture, the Russian company would hold 51 per cent …