Billionaire Mukesh Ambani's Reliance Industries Ltd has signed a deal to import crude oil worth USD 12-13 billion a year from Russia's Rosneft for 10 years, sources said.Russian state oil firm Rosneft will supply up to 500,000 barrels per day (25 million tonne a year) of crude oil to Reliance, they said.The 10-year deal at current prices is worth USD 12-13 billion.Reached for comments, a Reliance spokesperson said, Russia is currently the largest supplier of crude oil to India."We are always engaged with a number of international suppliers, including from Russia, for sourcing feedstock for our refinery. As per practice, such supply contracts are done for the following year. The number of cargoes will vary depending on economics given the prevailing market conditions," the spokesperson said.India, the world's third largest oil-consuming and importing nation, in October bought Euro 2 billion worth of crude oil from Russia, down from Euro 2.4 billion in the previous month. Reliance previously had a one-year deal to buy at least 3 million barrels of oil a month from Rosneft. One of the two refineries that Reliance has at Jamnagar is only-for-exports.

RIL signs $12-13 bn oil import deal with Russia's Rosneft

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