Try GOLD - Free
Reliance signs record $13bn oil supply deal with Russia's Rosneft
Hindustan Times Pune
|December 13, 2024
Russia's state oil firm Rosneft has agreed to supply nearly 500,000 barrels per day (bpd) of crude to Indian private refiner Reliance in the biggest ever energy deal between the two countries, three sources familiar with the deal said.
NEW DELHI/MOSCOW:
The 10-year agreement amounts to 0.5% of global supply and is worth roughly $13 billion a year at today's prices. It would further cement energy relations between India and Russia, which is under heavy Western sanctions over its invasion of Ukraine.
Rosneft did not reply to requests for comments. Reliance said it works with international suppliers, including from Russia, and deals are based on market conditions. The company declined further comment on commercial matters, citing the confidentiality of supply agreements.
The deal comes ahead of the planned visit by Russian President Vladimir Putin to India and after US President-elect Donald Trump said he wants to push Moscow and Kyiv to stop the war as soon as he takes office in January.
This story is from the December 13, 2024 edition of Hindustan Times Pune.
Subscribe to Magzter GOLD to access thousands of curated premium stories, and 10,000+ magazines and newspapers.
Already a subscriber? Sign In
MORE STORIES FROM Hindustan Times Pune
Hindustan Times Pune
Hockey: India lose 2-0 to Spain for their fifth defeat on the trot
India’s hopes of a revival in the FIH Men's Pro League were dashed as they suffered a 2-0 loss to Spain, continuing their slump in form here on Saturday.
1 mins
February 22, 2026
Hindustan Times Pune
Slovakia, Hungary threaten Ukraine following Rubio visit
Slovakia and Hungary have intensified their demands for the resumption of Russian oil through the Druzhba pipeline, with Slovakia threatening to cut off emergency electricity supplies to Ukraine and Hungary vowing to block a planned 90-billion-euro ($106-billion) European Union loan package for Kyiv.
1 min
February 22, 2026
Hindustan Times Pune
HINDUS MOST EDUCATED GROUP IN U.S. FOLLOWED BY JEWS: PEW STUDY
Hindus are the most highly educated religious group in the United States, followed by Jews, according to a new analysis by the Pew Research Centre which examined educational attainment across America’s major faith communities.
1 min
February 22, 2026
Hindustan Times Pune
MUSLIM STATES SLAM U.S. ENVOY FOR SAYING ISRAEL HAS RIGHT TO ALL OF MIDDLE EAST
Arab and Muslim nations on Saturday sharply condemned comments by the US ambassador to Israel, Mike Huckabee, who said Israel has a right to much of the Middle East.
1 min
February 22, 2026
Hindustan Times Pune
If clocks do not stop on Sundays, life too shouldn't
Senior citizens may not see Sundays as fun given how difficult it is to avail essential services on a holiday. So, why not have a shift system for all Sundays and holidays so that no service is shut down. A robust weekend/holiday cadre can also address the case of unemployment
5 mins
February 22, 2026
Hindustan Times Pune
Indians treat cricketers with adulation usually reserved for movie stars: Dale
From roaring crowds in stadiums across the world to tense World Cup battles with nail-biting finishes, few cricketers understand the theatre of international cricket quite like former South African pacer Dale Steyn.
1 mins
February 22, 2026
Hindustan Times Pune
IT WOULD BE A SHAME IF PAK PLAYERS ARE NOT PART OF THE HUNDRED: BROOK
It would be “a shame” if Pakistan cricketers are excluded from The Hundred, England's limited-over skipper Harry Brook said here on Saturday, a day before his team’s Super 8 match against Sri Lanka.
1 min
February 22, 2026
Hindustan Times Pune
OpenAI flagged Canada mass shooting suspect 8 months ago
OpenAI flagged and banned the suspect in one of Canada’s worst-ever mass shootings for violating ChatGPT’s usage policy June last year, without referring her to police, Bloomberg reported.
1 min
February 22, 2026
Hindustan Times Pune
Skipper Surya hopes to embrace the pressure
\"Asli tournament chalu ho raha hai (the real tournament is starting),\" Varun Chakravarthy exhorts his team in a BCCI video ahead of the Super 8s.
2 mins
February 22, 2026
Hindustan Times Pune
ATTACKED BY MOB IN '23, MANIPUR LEGISLATOR DIES IN GGM HOSPITAL
A Manipur lawmaker from the Kuki-Zo communities, Vungzagin Valte, who sustained critical wounds in a mob attack in Imphal a day after clashes first broke out in May 2023, died in Gurugram on Saturday, officials said.
1 min
February 22, 2026
Listen
Translate
Change font size