Mukesh Ambani is getting ready for a big deal that could startle not only india but also powerful nations like china and the US. The Economic Times reported that the talks are still in their early phases.
According to PTI, Russian oil major PJSC Rosneft oil Company is in preliminary negotiations with reliance Industries to sell its 49.13 percent ownership in Nayara Energy, which runs 6,750 gas stations and an oil refinery that produces 20 million tons of oil annually in India.
Why Is a Russian Company Selling a Stake To Reliance?
Due to Western-imposed restrictions that have made it impossible for them to take money out of india, Rosneft is selling this interest. However, Ambani hopes to take advantage of this chance to improve India's standing in the oil industry. Countries like the US and china are keeping a careful eye on this transaction because it has the potential to change the global oil game.
Reliance In Talks With Russia's Rosneft
In order to surpass the state-owned oil CORPORATION' target='_blank' title='indian oil corporation-Latest Updates, Photos, Videos are a click away, CLICK NOW'>indian oil corporation (IOC) as the country's top oil refiner and establish a significant foothold in the fuel marketing industry, reliance has begun negotiations to acquire Nayara.
According to three people with firsthand knowledge of the situation, the negotiations are still in their early stages, and there is no assurance that they will result in a final agreement because valuation is still a contentious issue.
In the past year, senior Rosneft executives have been to india at least three times, including to ahmedabad and Mumbai, to meet with possible investors.
A potential buyer for Rosneft, which is seeking to leave Nayara because of Western sanctions that restrict its ability to repatriate all of its earnings from operations in india, might be an international company or someone with sizable earnings abroad, both of which could make speedy payouts for the stake abroad.
Why gautam adani Declined the Offer?
Among other companies, reliance Industries, adani Group, Saudi Aramco, and the state-owned ONGC/IOC combination were given a stake in Rosneft and UCP.
However, practically every possible investor thought Rosneft's USD 20 billion estimate for Nayara was too high.
Given the projected global energy shift, the adani Group graciously denied the offer to invest in an oil refinery, which is regarded as a sunset industry.
According to PTI, Russian oil major PJSC Rosneft oil Company is in preliminary negotiations with reliance Industries to sell its 49.13 percent ownership in Nayara Energy, which runs 6,750 gas stations and an oil refinery that produces 20 million tons of oil annually in India.
Why Is a Russian Company Selling a Stake To Reliance?
Due to Western-imposed restrictions that have made it impossible for them to take money out of india, Rosneft is selling this interest. However, Ambani hopes to take advantage of this chance to improve India's standing in the oil industry. Countries like the US and china are keeping a careful eye on this transaction because it has the potential to change the global oil game.
Reliance In Talks With Russia's Rosneft
In order to surpass the state-owned oil CORPORATION' target='_blank' title='indian oil corporation-Latest Updates, Photos, Videos are a click away, CLICK NOW'>indian oil corporation (IOC) as the country's top oil refiner and establish a significant foothold in the fuel marketing industry, reliance has begun negotiations to acquire Nayara.
According to three people with firsthand knowledge of the situation, the negotiations are still in their early stages, and there is no assurance that they will result in a final agreement because valuation is still a contentious issue.
In the past year, senior Rosneft executives have been to india at least three times, including to ahmedabad and Mumbai, to meet with possible investors.
A potential buyer for Rosneft, which is seeking to leave Nayara because of Western sanctions that restrict its ability to repatriate all of its earnings from operations in india, might be an international company or someone with sizable earnings abroad, both of which could make speedy payouts for the stake abroad.
Why gautam adani Declined the Offer?
Among other companies, reliance Industries, adani Group, Saudi Aramco, and the state-owned ONGC/IOC combination were given a stake in Rosneft and UCP.
However, practically every possible investor thought Rosneft's USD 20 billion estimate for Nayara was too high.
Given the projected global energy shift, the adani Group graciously denied the offer to invest in an oil refinery, which is regarded as a sunset industry.
click and follow Indiaherald WhatsApp channel