MUMBAI: Billionaire brothers Shashi and Ravi Ruia have agreed to sell a 49 percent stake in Essar Oil to Russian energy major OAO Rosneft, providing the Indian company an assured supply of crude while its Russian counterpart obtains a foothold in Asia's third largest economy.
The Economic Times: Russia’s Rosneft signs preliminary deal to buy up to 49 percent stake into Essar’s Vadinar refinery
Russian President Vladimir Putin (C) looks on as Rosneft President Igor Sechin (R) shakes hands with Seadrill Vice-President and a director Tor Olav Troim (L) during an agreement signing ceremony at the St. Petersburg International Economic Forum 2014.
