Rosneft to occupy the oil market of India forcing out Saudi Arabia and Qatar

Rosneft plans to start large supplies to India from 2016.

Rosneft has purchased 49% of shares in Essar Oil which holds the second largest oil refinery plant in India. Besides this the Indian company has the access to the deep water port with an opportunity of acceptation of super tankers. Russian raw materials will be shipped to India by sea from the Kozmino port to the port in India. Essar Oil has its stake of port’s shares.

Rosneft announced it is ready to start supplies this year. It will become a serious strike for Saudi Arabia, Qatar and Iran as about 20% of the oil market of India is full of raw materials from these countries.

Today the majority of countries- oil suppliers are in difficult conditions due to the price fall for raw materials. When the exporters failed to come to an agreement in Doha upon the reduction of extraction volumes, oil price will keep falling and much will depend on new sales markets so as to cover low prices by the volume of sales. In the situation when the offer exceeds the demand, the best variant is to force the competitors out of the market. And Rosneft seems to be successful.