Rosneft plans to expand its presence in the Indian market by building an oil refinery. Russian President Vladimir Putin announced this at a meeting with students in the Kaliningrad region. “Kommersant”.
According to Putin, Rosneft invested $23 billion to buy an Indian refinery, a gas station network and a port in 2017 as part of its acquisition of a 49.13% stake in India’s Nayara Energy. It was the largest foreign investment in the Indian economy at that time.
In March 2023, Rosneft and the Indian company Indian Oil signed an agreement to increase oil supplies to India and diversify their quality. According to the IEA, India increased its imports of Russian oil by 16 times in 2022 compared to pre-war levels. However, volumes have decreased due to tightening sanctions since the beginning of 2024.
Earlier, answering the question of an Indian student, President Putin said: highlightedThat India has the right to an independent foreign policy free from external influences.
Previously rating agency ACRA allocated Rosneft has the highest credit rating.