Rosneft and Essar signed key terms of oil and oil products supplies to Essar refineries in India. Supplies may begin in 2015. The document was signed by the Head of Rosneft, Igor Sechin and the Founder of Essar, Shashi Ruia in the presence of the President of the Russian Federation Vladimir Putin and the Indian Prime Minister Narendra Modi. The reached agreement opens new horizons of cooperation between the two countries. Talking on the agreement Shashi Ruia said, “We are very happy to partner Rosneft for long-term supply of crude oil and products. This provides good long term raw material security to our refineries.