Rosneft has reportedly inked pact to acquire 49% stake in Shashi Ruia’s Essar Oil, which besides owning the Vadinar refinery has interests in hydrocarbon exploration and production. According to the agreement, the Russian Government-owned oil company will also get a stake in Essar Oil’s retail chain of 1,600 stations and the two companies plan to increase it to 5,000 within the next two years.
Essar Oil is a fully integrated oil & gas company of international scale with strong presence across the hydrocarbon value chain from exploration & production to refining and oil retail.
