Rosneft targets South Asia for downstream investments
Rusian state-controlled oil company Rosneft sees potential in the South Asia market and is keen on investing in downstream infrastructure in the region.
After taking a huge hit in the first quarter results with a staggering 75% drop in net profit, Rosneft has identified South Asia as a fast-growing market with business opportunities, reports the Financial Times.
The investment in countries such as India of Indonesia would mainly be on downstream infrastructure such as refineries and gas stations.
With the withdrawal of fuel subsidies by the Indian government, the country´s fuel retailing market is becoming more appealing to private operators, with many already making major investments. In addition, India is on course to overtaking China as the main driver for global oil demand through the rise in car ownership.
