You are here: Home » News-IANS » Business-Economy
Business Standard

Russian oil major Rosneft to tap Indian retail fuel market: Pradhan

IANS  |  Bengaluru 

Union Petroleum and Natural Gas Minister Dharmendra Pradhan on Sunday said the Russian major Rosneft plans to tap the retail fuel market in in a big way.

"The Russian major who took over recently is planning in a big way to make inroads into India's retail fuel market," Pradhan told reporters after attending the City Gas Distribution (CGD) project to supply piped natural gas (PNG) to households in Bengaluru.

To a query on the size of investment to be made by Rosneft and Essar, he said both the companies have invested $13 billion in Indian market in the last financial year.

"It was one of the biggest deals in the industry in the world," he said.

During the second quarter of this financial year, BP and Reliance Industries have announced a $6 billion investment in and Pradhan said this "indicates the progressive and reformative nature" of the Narendra Modi government.

--IANS

str/vd

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

RECOMMENDED FOR YOU

Russian oil major Rosneft to tap Indian retail fuel market: Pradhan

Union Petroleum and Natural Gas Minister Dharmendra Pradhan on Sunday said the Russian oil major Rosneft plans to tap the retail fuel market in India in a big way.

Union Petroleum and Natural Gas Minister Dharmendra Pradhan on Sunday said the Russian major Rosneft plans to tap the retail fuel market in in a big way.

"The Russian major who took over recently is planning in a big way to make inroads into India's retail fuel market," Pradhan told reporters after attending the City Gas Distribution (CGD) project to supply piped natural gas (PNG) to households in Bengaluru.

To a query on the size of investment to be made by Rosneft and Essar, he said both the companies have invested $13 billion in Indian market in the last financial year.

"It was one of the biggest deals in the industry in the world," he said.

During the second quarter of this financial year, BP and Reliance Industries have announced a $6 billion investment in and Pradhan said this "indicates the progressive and reformative nature" of the Narendra Modi government.

--IANS

str/vd

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

image
Business Standard
177 22

Russian oil major Rosneft to tap Indian retail fuel market: Pradhan

Union Petroleum and Natural Gas Minister Dharmendra Pradhan on Sunday said the Russian major Rosneft plans to tap the retail fuel market in in a big way.

"The Russian major who took over recently is planning in a big way to make inroads into India's retail fuel market," Pradhan told reporters after attending the City Gas Distribution (CGD) project to supply piped natural gas (PNG) to households in Bengaluru.

To a query on the size of investment to be made by Rosneft and Essar, he said both the companies have invested $13 billion in Indian market in the last financial year.

"It was one of the biggest deals in the industry in the world," he said.

During the second quarter of this financial year, BP and Reliance Industries have announced a $6 billion investment in and Pradhan said this "indicates the progressive and reformative nature" of the Narendra Modi government.

--IANS

str/vd

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

image
Business Standard
177 22