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Russia barges in on Iran and India’s oil romance

How India is benefiting from cheap oil

Iran has some tough new competition in the race to capitalize on India’s booming demand for oil.

State-owned Russian energy giant Rosneft is the lead investor in a $12.9 billion buyout of India’s Essar Oil that was announced over the weekend. Russian investment group United Capital Partners (UCP) has also snapped up a stake.

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