Rosneft and Essar sign crude oil supply agreement

Essar Oil Ltd. and Rosneft have signed a long-term crude oil supply agreement for the import of crude oil over a period of 10 years.  

Essar Oil operates the second-largest single-location refinery in India and has a large requirement of crude oil that has to be primarily met by imports. This agreement with Rosneft will help Essar Oil to diversify its supply sources, expand geographical market coverage, and enhance supply security. 

The contract will ensure supplies of 10 million tons per annum of crude oil and feedstock to Essar’s Vadinar refinery over a period of 10 years. Adequate operational flexibility is provided for the refinery to benefit from the international oil market opportunities.

Expanding the scope of partnership, Rosneft and Essar Oil & Gas Ltd./Essar Energy Holdings Ltd. have signed a non-binding term sheet with regard to Rosneft’s participation in the equity capital of Essar Oil Ltd. with a share of up to 49%.

Did You Like this Article? Get All the Energy Industry News Delivered to Your Inbox

Subscribe to an email newsletter today at no cost and receive the latest news and information.

 Subscribe Now


The Time is Right for Optimum Reliability: Capital-Intensive Industries and Asset Performance Management

Imagine a plant that is no longer at risk of a random shutdown. Imagine not worrying about losing...

Going Digital: The New Normal in Oil & Gas

In this whitepaper you will learn how Keystone Engineering, ONGC, and Saipem are using software t...

Maximizing Operational Excellence

In a recent survey conducted by PennEnergy Research, 70% of surveyed energy industry professional...

Leveraging the Power of Information in the Energy Industry

Information Governance is about more than compliance. It’s about using your information to drive ...