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The contract will ensure supplies of 10 million tons per annum of crude oil and feedstock to Essar`s Vadinar refinery over a period of 10 years.
Expanding the scope of partnership, Rosneft and Essar Oil & Gas / Essar Energy Holdings, companies incorporated and managed under the laws of Mauritius, have signed a non-binding term sheet with regard to Rosneft`s participation in the equity capital of Essar Oil with a share of up to 49%. The proposed transaction is conditional upon various factors such as due diligence, determination of the transaction price, execution of definitive transaction documents and receipt of requisite approvals.
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