Russian firms, Trafigura to buy Essar Oil

Russian oil major Rosneft, along with European trader Trafigura and Russian fund UCP, will acquire 98 percent in India's Essar Oil for about $12-$13 billion, two sources with direct knowledge of the deal told Reuters on Thursday.

Rosneft will get 49 percent and the two investors - Trafigura and UCP - will hold the remaining 49 percent in equal parts, the sources said.

Reporting by Nidhi Verma