Russia's Rosneft closes deal to buy 49 per cent stake in India's Essar Oil
Authored By Wion Web Desk
Published: Aug 21, 2017, 01:04 IST | Updated: Aug 21, 2017, 01:04 IST
Russia Rosneft
Story highlights
An investment consortium comprising Trafigura and UCP has also announced the closure of their acquisition of a separate 49 per cent share of EOL
Russia's largest oil producer Rosneft saidon Mondayit had successfully closed a deal to buy a 49 per cent stake in Indian private refiner Essar Oil Limited (EOL).
An investment consortium comprising Trafigura and UCP has also announced the closure of their acquisition of a separate 49 per cent share of EOL.
"Together with our partners, we intend to support the company to significantly improve its financial performance and, in the medium term, adopt an asset development strategy," Rosneft cited its CEO Igor Sechin as saying in a statement.