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India,Russian Federation : ROSNEFT seeks to enter win-win deal with RIL.

Seeking to attract them into potential tie-ups and partnerships, Russia has started sending feelers to leaders of the Indian oil & gas industry, with the entire Ukraine episode being criticized by the West.

Russian state-owned Rosneft, based within minutes of the Kremlin, is said to be close to Vladimir Putin, the man calling the shots in Europe's Eastern Bloc and Russia.

The company's CEO Igor Sechin is said to be discussed a partnership with Reliance Industries Limited (RIL) Chairman and MD, Mukesh Ambani.

The deal is expected to be a win win for both parties, particularly RIL who requires crude oil and is seeking to bolster its overseas exploration portfolio.

Anxiety over potential bans from the West and India's increasing oil demand, this would signify a new beginning and invariably bolster Indo-Russian ties, for Rosneft.

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Publication:Mena Report
Geographic Code:4EXRU
Date:Apr 8, 2014
Words:147
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