 "A logo of Russian state oil firm Rosneft is seen at its office in Moscow")
The entry of Russian government-owned Rosneft into India’s petroleum sector through its purchase of Essar Oil is expected to change the dynamics of the refining and marketing business.
It also ushers a new era in which global oil producers buy refinery stakes in high demand markets in order to secure their hydrocarbon business, which is under threat from other energy sources.
Barring Shell, which is present in India only in marketing and the LNG segment, no major foreign player has management control and large-scale investment in the downstream sector. The LN Mittal group has an equity presence in the Guru Gobind Singh
