Deals
Russia Deals Deepen India Hold in China Oil-Buying Backyard
- India lift stakes in Siberia fields connected to ESPO pipeline
- China is biggest buyer of Russian crude, including ESPO supply
An advertisement for OAO Rosneft, the state-run producer which pumps 40 percent of Russia's oil, stands on a building in Moscow, Russia, on Monday, Aug. 18, 2014.
Photographer: Andrey Rudakov/BloombergThis article is for subscribers only.
India is expanding its footprint in China’s backyard by forging deals with Russia for stakes in Siberian fields that supply Asia’s biggest economy and crude consumer.
Deals last week between Rosneft and Indian state-run companies beefed up the South Asian nation’s share in two assets that are linked to the East Siberia-Pacific Ocean pipeline. That conduit has a direct link to China, which also lifts a majority of ESPO supplies shipped from the Pacific port of Kozmino and is the biggest buyer of Russian crude.