“I congratulate Essar on the conclusion of the US $12.9 billion Essar Oil deal.An asset, which was truly Made in India, has attracted investment interest from world class entities, demonstrating the spirit of dynamic entrepreneurship in India. I welcome Rosneft, Trafigura and UCP to participate in the India growth story and wish them success.”
Shri Dharmendra Pradhan
Union Minister of State (Independant Charge), Ministry of Petroleum & Natural Gas
“This day marks the beginning of a new chapter for EOL. Together with our partners we intend to support the company to significantly improve its financial performance and, in the medium term, adopt an asset development strategy. The closing of the deal is a remarkable achievement for Rosneft too: the Company has entered the high-potential and fast-growing Asia Pacific market. The acquisition of the stake in the Vadinar refinery creates unique opportunities of synergies with existing Rosneft-owned assets and will help improve efficiency of supply to other countries within the region.”