Venezuelan min says discussed exports to India with Rosneft

MOSCOW, Oct 25 (PRIME) -- Venezuelan Oil Minister Eulogio del Pino has met with Igor Sechin, CEO of Russian state-owned oil major Rosneft to discuss possible exports of Venezuelan oil to Indian oil refinery Essar Oil, del Pino told reporters on Tuesday.

“We are suggesting Rosneft create a chain from production…to transportation of oil to the refinery in India, which was bought by Rosneft. We discussed that with Sechin,” he said.

Rosneft signed a deal to acquire 49% in Indian refinery Essar Oil on October 15. The company said that a consortium of investors, comprising Rosneft, oil trader Trafigura and investment group United Capital Partners (UCP) will pay $12.9 billion for 100% in the refinery, while a representative of the company told PRIME that the price of Rosneft’s stake may reach $3.5 billion.

End