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Venezuela has awarded licences to a unit of Russian oil major Rosneft to develop two offshore gas fields, Rosneft said in a statement.
Igor Sechin, the head of Russian oil giant Rosneft and a close ally of President Vladimir Putin, failed to appear as a witness Monday in the bribery trial of former economy minister Alexei Ulyukayev.
The main theme of the meeting was to seek investment in exploration and production, processing, transportation and distribution network in oil and gas.
Rosneft's market capitalisation stands at $57 billion and the deal makes it one of the largest investments ever made by China into Russia.
The issue of additional payout to the ex-minority shareholders came up after criticism rose that the promoters enriched themselves too much with the delisting.
Essar completes sale of oil assets; deal bans Ruias from re-entering oil refining sector in India forever
The deal involves a non-compete clause in the agreement, as per which the Ruias will not be able to enter any part of the oil refining and retailing in the country, EOL's non-executive director said.
Rosneft will get a 49.13 percent stake in Essar and the Trafigura-UCP consortium via Kesani Enterprises Company Limited will get another 49.13 percent stake.
Alexei Ulyukayev was largely seen as a victim of a Kremlin power play against Igor Sechin, chief executive of the oil company Rosneft and President Vladimir Putin's close ally.
Russia's Rosneft plans to close the deal to buy a stake in India's refiner Essar Oil in the coming days, Pavel Fyodorov, Rosneft first vice-president, told a conference call on Tuesday.
A final decision on the issue will be taken by the PMO as the deal was signed in the presence of PM Modi and Russian President Vladimir Putin on the sidelines of the BRICS summit held in Goa last year
IT experts identified the virus as "Petrwrap", a modified version of the Petya ransomware which hit last year and demanded money from victims in exchange for the return of their data.
The attacking tool is believed to be ransomware of the so-called Petya malware type, which earlier affected firms in Russia including oil giant Rosneft and Ukraine. Here's how you protect your system
Rosneft said that its servers had suffered a "powerful" cyberattack, as the company is locked in a bitter court fight with the Russian conglomerate Sistema.
The company hopes to close the deal by early next month, sources told PTI.
Venezuela's leftist government has grown increasingly close to Russia's Vladimir Putin.