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Rosneft Increases Supply of Oil and Oil Products to India
On December 11, in New Delhi, in the presence of Russian President Vladimir Putin and Prime Minister of the Republic of India Narendra Modi, the head of Rosneft, Igor Sechin, and Shashi Ruya, the founder of Essar, signed a document on the main commercial conditions for the supply of oil and oil products to the Essar refinery in India.
This agreement opens up new strategic mutually beneficial prospects for cooperation between Russia and India.
For Rosneft, this means, firstly, the ability to plan production volumes and deliveries to a new region with significant growth potential, and secondly, a guaranteed long-term channel for the sale of oil and oil products.
For Essar, on the one hand, this is an important element in the diversification of basic supplies, and on the other hand, it is a stable and high-quality partner-supplier of products, which in turn means ensuring the country's energy security for India.