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Home / International Customs / Russia’s Rosneft closes deal to buy 49% stake in Essar Oil
Russia’s Rosneft closes deal to buy 49% stake in Essar Oil
Rosneft agrees to double oil products supply to Turkey by 2018-20

Russia’s Rosneft closes deal to buy 49% stake in Essar Oil

MOSCOW: Russia’s largest oil producer Rosneft said on Monday it had successfully closed a deal to buy a 49% stake in Indian private refiner Essar Oil Limited (EOL).

An investment consortium comprising Swiss commodity trading firm Trafigura, and Russian private fund United Capital Partners (UCP, has also announced the closure of their acquisition of a separate 49% 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.