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.

Russia’s Rosneft has agreed to sell nearly 500,000 barrels per day of oil to Indian private refiner Reliance in the biggest-ever energy deal between the two countries, Reuters reported on Thursday. The report claimed that the deal will be for 10 years to supply roughly 0.

The borrowing would signal Reliance’s return to the offshore loan market since 2023, when the conglomerate secured more than $8 billion in financing --- a record for any Indian borrower at the time

Just as western governments try to curb Russian oil sales and revenue, the country’s state oil Rosneft agreed to a long-term crude supply deal with private Indian refiner Reliance, Reuters reports.

Russia's state oil firm Rosneft has agreed to supply nearly 500,000 barrels per day (bpd) of crude to India’s Reliance Industries in the biggest oil supply deal between the two countries

Billionaire Mukesh Ambani-owned Reliance Industries is in talks with banks for a loan of $3 billion. If this materialises, it could be the largest offshore loan from India in over a year.

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.

The Russian state oil company Rosneft and the Indian private oil refining giant Reliance Industries have signed a record-breaking deal to supply 500,000 barrels of oil daily for the next 10 years, Reuters reports.