In a spectacularly costly gamble aimed at boosting Russia’s strategic position, state-controlled giant Rosneft is investing in India’s Essar Oil to muscle into a promising market with outlets throughout Asia.
An employee walks inside the premises of an oil refinery of Essar Oil, which runs India’s second biggest private sector refinery, in Vadinar in the western state of Gujarat, India, October 4, 2016. REUTERS/Amit Dave (mb.com.ph)
Russian President Vladimir Putin returned from last week’s BRICS summit in Goa with one of the largest deals the oil sector has seen in the last two years of falling prices: 98 percent of Essar Oil …read more
Source: Malaya Business Insight