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.

Rosneft, the Russian state oil company, has entered into an agreement with Reliance, an Indian private refiner, to supply close to 500,000 barrels per day (bpd) of crude oil, reported Reuters. This ten-year deal, valued at approximately $13bn (Rbs1.35trn) annually at current prices, represents around 0.5% of the global oil supply.

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

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 the country’s biggest ever energy deal with India, Reuters reported Thursday. Rosneft has reportedly signed a 10-year agreement to supply 500,000 barrels of crude oil per day to Indian private refiner Reliance,

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.