Chief Govt of oil producer Rosneft Igor Sechin attends the St. Petersburg Worldwide Financial Discussion board (SPIEF) in Saint Petersburg, Russia June 5, 2026.
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REUTERS
Rosneft CEO Igor Sechin has mentioned India will account for about half of the global improve in oil demand over the next decade, Russian media reported.
Talking on the St Petersburg Worldwide Financial Discussion board, Sechin mentioned India occupied a “particular place” within the global oil market, the state-run TASS information company reported Saturday.
“Over the next 10 years, this nation will account for about half of the global improve in oil demand,” TASS quoted Sechin as saying.
Sechin cited Worldwide Power Company estimates projecting that India’s oil consumption would attain practically eight million barrels per day by 2035, representing growth of 44 per cent, whereas global demand total would improve by about 5 per cent.
The Rosneft chief additionally mentioned Russian oil provides had generated financial advantages for India and China since April 2022.
In accordance to TASS, Sechin mentioned the cumulative worth of these advantages had exceeded $40 billion.
He additionally mentioned Russia’s financial partnership with India and China helped guarantee secure power provides and argued that Russia couldn’t be excluded from global provide chains.
Sechin has warned that disruptions to provides via the Strait of Hormuz may lead to increased fertiliser and meals costs, with India amongst these most weak to the influence.
TASS quoted Sechin as saying fertiliser costs had risen by practically 60 per cent within the first 4 months of the 12 months and that offer disruptions, coupled with a scarcity of strategic reserves in affected markets, elevated the chance of a global meals disaster.
Sechin mentioned India, international locations in Africa and Southeast Asia could be among the many most weak to any food-price shock arising from disruptions to fertiliser provides.
The St Petersburg Worldwide Financial Discussion board was held from June 3 to June 6.
Earlier, addressing delegates on the discussion board, Russian President Vladimir Putin had mentioned that any try to undermine India’s sovereignty via “threats of sanctions” would “boomerang instantly” beneath Prime Minister Narendra Modi’s management.
Putin made these remarks on Friday in response to a query about his feedback throughout an interplay with heads of main global information companies, together with PTI, the earlier night time.
Printed on June 6, 2026
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