Rosneft signs supply deal with Essar

NEW DELHI, December 15, 2014 – Indian conglomerate Essar and Russian oil company Rosneft signed an oil and oil products supply agreement last Thursday. As part of the deal, Rosneft will supply oil to Essar’s refining facilities as of early 2015. The Essar Group owns the second-largest refinery of India, with a capacity of around 402,000 barrels per day. The agreement was signed during Russian President Vladimir Putin’s official visit to India.

This is not the first agreement signed this year between an Indian and a Russian company aimed at enhancing the energy co-operation between both countries. Last June, government-owned Oil India had signed a memorandum of understanding with Russian Gazprom for technological co-operation in global exploration and production activities and LNG projects.

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