Rosneft to tap Indian retail fuel market: Pradhan
Petroleum minister Dharmendra Pradhan on Sunday said Russian oil giant Rosneft was planning to tap the retail fuel market in India in a big way. “Rosneft, the Russian oil major, who recently took over Essar Oil, are planning in a big way to tap retail fuel market in India,” he said after inaugurating city gas distribution project in Bengaluru. Asked about the size of investment to be made by Rosneft and Essar to tap the fuel retailing market, Pradhan said both companies had invested $13 billion in Indian market in the last fiscal. “This was one of the biggest deals in the oil industry in the world,” he added.