Russian oil firm Rosneft-owned Essar Oil Ltd (EOL) is planning to raise ₹3,000 crore in debt funding to meet its financial requirements, said two people aware of the company’s plans.
Russian Gas Giants Look To Expand In India As New Delhi, Moscow Ramp Up Efforts To Strengthen Energy Ties
Russian gas giant Gazprom and oil major Rosneft were looking to expand their presence in India as the two countries step up efforts to strengthen energy cooperation, officials familiar with the developments said on Tuesday.
India’s oil refining capacity is set to jump 80%, or by 194 mt (mt), by 2030 as state refiners, Reliance Industries and Rosneft line up expansion plans, undeterred by the renewables explosion, hoping to meet future demand.
fter acquisition of Essar Oil in August, the Rosneft-led consortium has been taking quiet strides in expanding its retail network and utilising synergies for oil supply.
Russian energy major Rosneft has agreed to take control of the main oil pipeline in Iraq’s Kurdistan, further boosting its role as the main international investor in the semi-autonomous region.
Private players such as Reliance Industries and Essar owned by Russia’s Rosneft have tripled the number of petrol and diesel outlets in India in the last two years
As a leading energy consumer, India is looking to upgrade its relationship with producing countries to a strategic one, instead of mere buyer-seller, Petroleum Minister Dharmendra Pradhan said on Monday.
Prime Minister Narendra Modi brainstormed with chief executives of top global and Indian companies, including U.K.’s BP, Russia’s Rosneft, Saudi Aramco and Reliance Industries Ltd.
Indian private refiner Essar Oil’s imports from Iran fell by three-quarters in August from a year ago, as it boosted purchases from Venezuela, according to tanker arrival data obtained from trade sources and ship-tracking services on the Thomson Reuters terminal.
French energy giant Total SA is looking for a local partner to begin retailing petrol and diesel in the fast-expanding Indian fuel market, which already has a bunch of private and foreign oil giants competing with state firms.