Russia's Rosneft Eyeing 50% Stake in Essar Oil

摘要

Russia's top oil giant Rosneft is on the verge of buying out 50 % stakes in Essar Oil. The news broke mid-June sending Essar's stocks soaring at the bourses. Essar Oil operates a 20 million tons a year refinery at Vadinar and also has 1,600 petrol pumps in the country. It also has five coal-bed methane (CBM), holding up to 10 Trillion cubic feet of gas resource. It is the second name in India's private sector oil & gas after Mukesh Ambani's Reliance Industries.