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Rosneft, Reliance agree biggest ever India-Russia oil supply deal

Business & FinanceDeals

Russia’s state oil firm Rosneft has agreed to supply nearly 500,000 barrels per day (bpd) of crude to Indian private refiner Reliance in the biggest ever energy deal between the two countries, three sources familiar with the deal said

Why it matters 

The 10-year agreement amounts to 0.5% of global supply and is worth roughly $13 billion a year at today’s prices. It would further cement energy relations between India and Russia, which is under heavy Western sanctions over its invasion of Ukraine. 

Article Tags

Topics of Interest: Business & FinanceDeals

Type: Reuters Best

Sectors: Business & Finance

Regions: Asia

Countries: IndiaRussia

Win Types: Exclusivity

Story Types: Exclusive / Scoop

Media Types: Text

Customer Impact: Significant National Story

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