Russia's Rosneft to pay USD2b for India's Vadinar oil refine...| MENAFN.COM

Saturday, 22 January 2022 04:59 GMT

Russia's Rosneft to pay USD2b for India's Vadinar oil refinery

(MENAFN) Russia's Rosneft is ready to pay USD2 billion in a deal with Essar Group for acquiring almost half of Vadinar oil refinery in India, marking a huge stepping stone in the company's global expansion plans, Gulf Times reported.

Rosneft, as one of the best oil producer around the globe, has been avidly trying to increase its presence in the global oil marketplace, an endeavor that has been hindered by Western sanctions over Russia.

"Thanks to this agreement Rosneft grants itself a secure market outlet of crude oil, which will create an additional possibility of production planning and marketing," the company said in a statement.

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