India: Rosneft, Trafigura and UCP to buy Essar Oil for $12b-$13b

A logo of Russian state oil firm Rosneft is seen at its office in Moscow October 18, 2012. REUTERS/Maxim Shemetov/Files

A group led by Russian oil major Rosneft will acquire India’s Essar Oil in a $12 to $13 billion deal including debt, two sources privy to the deal said, strengthening the ties between the world’s largest oil producer and the world’s fastest growing fuel consumer.

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