Russia's largest oil producer Rosneft is looking into expanding investment into the downstream sector in India, Chief Financial Officer Pavel Fedorov said on Wednesday, adding that the company believed in the country's market growth.
Fedorov also said Rosneft was looking into the South-East Asian market on the whole in terms of investments.
Essar Oil is working to complete a deal to a sell a 49 per cent stake in its 400,000 barrel per day Vadinar refinery in western Gujarat state to Russian giant Rosneft.
"Rosneft, rich with oil and gas wants to join Indian markets," Oil Minister Dharmendra Pradhan said.
Global oil majors including Saudi Aramco and Total plan to tap the retail fuel market in India, the oil minister said last week.
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