Rosneft and Indian Oil Corporation Limited (IOCL) signed a contract for supplying up to 2 mln tons of oil to India via the port of Novorossiysk by the end of 2022.
The signing took place during Russian President Vladimir Putin’s visit to India, during which he met with Prime Minister Narendra Modi and held bilateral talks in an extended format. The leaders of the two countries attach great importance to the development of comprehensive trade, economic, and investment cooperation. One of the key sectors of interaction between companies of the two countries in the energy sector.
"The signing of the new oil supply contract confirms the strategic nature of the long-standing partnership between Rosneft and Indian Oil. It is important that cooperation between the companies is developing in an integral format and covers the entire technological chain – from production to sales of feedstock. I hope that our cooperation with Indian Oil will develop in other projects as well," said Chief Executive Officer of Rosneft Igor Sechin.