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Upbeat in India's Downstream Sector on Cards Following Russia's Rosneft and Essar Oil's Deal

News

Essar Oil has agreed to sell its 49% stake 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.

Source: ET

SNP Insight

A whooping investment in range of INR 42,000-48,000 comes in for Essar Oil along with assured supply of securing crude oil for India's Second largest Pvt. refinery at Vadinar comes as a respite ailing downstream segment.The substantial increase in refining capacity addition of 25mpta by 2020 is expected to further meet the growing oil demand in the country with enhanced participation from Private & Foreign Players.

Source : SNP Infra Research