Excerpts from Videocon Chairman Venugopal Dhoot Interview to ET NOW

I control 3% equity in Great Offshore and we are having it as a strategic investment. You see Videocon is an investor in oil and we are having our Brazil, Oman oil fields etc. Our oil division makes the investment. For example in Cairns energy we have invested around Rs 150 cr. So these are our strategic investment.

Nothing very special on that. This is just a recession going on.

For how much time it will continue?

It will be upto November, after November again there will be demand for oil. Oil is such a thing that you will always have a demand.

Sometimes it goes down, sometimes it goes up. But this is a real infrastructure for the oil industry and that is why I think that the prices will go up in time to come.