Related Articles
Forward article link
Share PDF with colleagues

Indian battleground

Rosneft is expanding its reach in Asia, competing against Middle Eastern exporters

The $12.9bn sale of India's Essar Oil to Rosneft and other investors has opened up a new battleground in Asia, where Russia's state-controlled energy firm is treading on territory considered strategic to Middle East exporters. It follows Saudi Aramco's efforts to build a customer base in Europe, Rosneft's established market. Arundhati Bhattacharya, the chairman of State Bank of India, and Andrei Kostin, boss of Russia's VTB Bank, expect that the deal will close very soon. The original agreement to sell 98% of Essar to the Rosneft-led consortium was first signed in October, but has been repeatedly delayed. Rosneft bought a 49% stake in Essar's refinery, port and petrol pumps, while Netherla

Comments

Comments

{{ error }}
{{ comment.comment.Name }} • {{ comment.timeAgo }}
{{ comment.comment.Text }}
Also in this section
BP’s Angolan JV could provide future template
3 August 2021
The major’s pooling of non-core resources with Italy’s Eni may be a model moving forward
Book review: Leftist history of the UK oil industry offers wider appeal
3 August 2021
It is easy to identify the sympathies of the authors. But that does not diminish the vivacity of the tale they have to tell
Letter from China: Covid resurgence compounds economic concerns
3 August 2021
China’s economy faces headwinds that go beyond than the arrival of the Delta variant
Sign Up For Our Newsletter
Project Data
Maps
PE Store
Social Links
Social Feeds
Featured Video