ESSAR UP BY 20%

ROSNEFT - Essar Oil Limited (EOL) owned by the Consortium of International Investors led by Rosneft, since March 2017 to date has expanded the retail network Essar-branded fuel stations by 20% reaching 4,200.

Over the past three years, EOL has made good progress in increasing its share on the growing Indian market. As far back as in March 2015, there were around 1,500 Essar branded fuel stations in the country. Over three years the number of fuel stations has grown up more than 2.8 times.

This sales channel will further improve the asset's operational and financial performance thanks to the steadily growing local demand for high added value oil products and EOL's retail development strategy.

The Company intention is to maintain the growth rate in India's retail business. EOL's plans for the next few years allow for the possibility of expanding India's fuel station network to 6,000.

According to the International Energy Agency, by 2040 India's automotive sector will be consuming 132 mmtoe of oil products annually (a growth of 306.8%).

At the moment, the vast majority of EOL's retail network operate under the DODO scheme (dealer owned-dealer operated).

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Earlier:

2017, August, 24, 14:10:00 ROSNEFT BOUGHT ESSAR Rosneft Successfully Closes Strategic Deal for the Acquisition of 49% of Essar Oil Limited Русский | English

2017, June, 24, 09:35:00 ROSNEFT - ESSAR DEAL: $12.9 BLN Creditor banks to India's Essar Oil approved the acquisition of the company by a group including Russia's Rosneft, two sources familiar with the matter said, removing a key hurdle to the $12.9 billion deal that has been in the works for two years.

2017, May, 11, 18:04:00 ROSNEFT - ESSAR DEAL Russian state oil firm Rosneft is struggling to close its $12.9 billion acquisition of India's Essar Oil Ltd because six of Essar's Indian creditors have yet to approve the deal, sources close to the talks said.

2016, October, 14, 18:45:00 ROSNEFT WILL BUY INDIA Rosneft will get 49% and the two investors -- Trafigura and UCP -- will hold the remaining 49% in equal parts, the sources said, adding that the valuation included about $4.5 B in assumed debt.

2016, October, 6, 18:45:00 ROSNEFT SOLD $2 BLN The closed transaction is a symbolic one for the companies and marks the transition to a new level of cooperation in the Russian-Indian relations in the energy area. Indian companies obtain substantial interest in one of the biggest large-scale projects of Rosneft of the last decade, whereas Rosneft retains 61.1% shares in the project. Русский | English

2016, June, 10, 14:25:00 INDIAN - RUSSIAN ADVANTAGES ONGC Videsh Ltd. signed a $1.16 billion nine-month bridge loan on May 19 to fund the purchase of a 15 percent stake in Vankor field in Siberia from Russia’s Rosneft OAO, data compiled by Bloomberg show. Indian Oil Corp. plans a $1.2 billion fundraising for Russian investments in three or four months, including short- and long-term loans, Finance Director A.K. Sharma said in an interview on Wednesday. The average margin over benchmark rates on non-rupee loans for Indian refiners and explorers was 74 basis points this year, the lowest since 2006, the data show.

2016, June, 3, 19:00:00 ROSNEFT SOLD 15% The closed transaction is symbolic for both the companies and marks transition to a new level of cooperation in the Russian-Indian relations in sphere of energy. ONGC gets substantial interest and relevant rights in one of the biggest large-scale projects of Rosneft of the last decade, whereas Rosneft retains major shares in the project and will operate on the field through the operator company RN-Vankor. Русский | English