Reported 2 days ago
Rosneft, Russia's state oil company, has finalized a historic agreement to supply nearly 500,000 barrels per day of crude oil to India's Reliance, marking the largest oil supply deal between the two nations. The 10-year contract, valued at about $13 billion annually, represents 0.5% of global oil supply and aims to strengthen energy ties amidst Western sanctions on Russia. The deal, effective from January, includes a review of pricing and volumes annually, and highlights India's increasing reliance on Russian oil imports following European Union sanctions.
Source: YAHOO