The takeover of India’s Essar Oil by Russia’s largest oil producer Rosneft can be now considered as closed, Rosneft CEO Igor Sechin told a shareholders’ meeting on Thursday.
The deal, where Rosneft will hold a 49% stake, will allow the Russian company to increase oil refining output by 20% this year, he said.
Sechin also said that the synergy effect from the privatisation of oil company Bashneft had totalled more than 40 billion roubles ($669.9 million) in the first two quarters of this year. Read More…
Credit By : Livemint
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