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Russia to supply 10 million tons/year of oil to India for next ten years

by ChemOrbis Editorial Team - content@chemorbis.com
  • 25/12/2015 (10:54)
According to media reports, Russia and India signed several deals in many fields, including oil and gas as well as trade and defense during India’s Prime Minister Narendra Modi’s two-day visit to Moscow as part of the 16th Annual Bilateral Summit. Under the new agreement between Russia’s Rosneft and India’s Esser Group, Russia will ship around 10 million tons of oil annually to India for the next ten years.

Previously, India’s Deputy Foreign Affairs Minister Subrahmanyam Jaishankar reported that they aimed to increase mutual investments between the two countries five-fold over the next decade. Mutual investments between Russia and India currently amount to around $11 billion and India hopes to increase this investment to $30-50 billion by 2025.
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