Russia's Rosneft in talks to buy stake in Essar Oil

June 15, 2015 16:26

Russia's top oil producer Rosneft is in talks to buy about 50 per cent stake in Essar Oil Ltd for an undisclosed amount. "There are discussions going on. I cannot comment anything further," said a source close to the Russian giant.

Last year, Rosneft had signed an initial deal to supply 10 million tonnes a year or 200,000 barrels per day (bpd) of oil to Essar Group over 10-years.

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