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India Is Ready to Buy Russian Oil



Essar Group is going to buy 100 million tons of oil from Rosneft.



09.Jul.15 1:13 PM
By Shawn Highstraw
Photo Toinnov.com

   401

India Is Ready to Buy Russian Oil
Russia and India have signed a very important agreement during summit on July 8. It was actually an oil supply contract. In accordance with new document which was signed during BRICS participants summit Russia will provide India with 100 million tons of oil within the next 10 years. In other words Russia obtained huge business partner on the international arena as well as arranged new sales channel with long-term perspectives.

It is known that oil supplies ill be forwarded to Vadinar where biggest Indian oil processing enterprise is located. It should also be noted that both sides including Essar Group and Rosneft have already discussed possibility of Russian company entry to the share capital with 49% of shares.

Both side are planning to increase the level of oil processing at Vadinar factory up to 45 million tons annually. At the same time new cooperation is also connected with network of gas stations located in India. Partners are planning to increase the amount f stations from 1,600 to 5,000 within the next two years.



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