Russian oil producer Rosneft inches closer to buying 49% stake in India's Essar Oil

Russian oil producer Rosneft inches closer to buying 49% stake in India's Essar Oil

Russia’s top oil producer Rosneft is still carrying out due diligence to buy a stake in Essar Oil Ltd, the Indian group which runs India‘s second biggest private sector refinery said on Tuesday.

Rosneft signed a preliminary deal in July last year to acquire up to 49 percent in Essar Oil, controlled by the Indian billionaire Ruia brothers.

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