Sanctions may delay Rosneft’s India ops expansion

Western sanctions will likely delay Rosneft’s planned petrochemicals expansion at its Indian refinery, industry executives with knowledge of the matter said.

Rosneft owns a 49% stake in Nayara Energy, which operates a 20 million tonnes a year refinery in Gujarat and more than 6,000 fuel retail outlets across India. Oil trader Trafigura and Russian investment group UCP are other shareholders in Nayara.