Rosneft appoints first Indian on its board

New Delhi Russian energy giant Rosneft has appointed a former Indian Oil Corporation (IOC) director to its board in signs it may be looking at boosting trade links with India.

GK Satish, who retired as director for business development at IOC in 2021, is one of the three new faces appointed to the 11-strong board of directors of Rosneft, according to a statement issued by the Russian firm.

Satish, 62, is the first Indian to be appointed to the board of Rosneft. Rosneft has partnerships with Satish's former company in oil and gas fields in Russia. It also sells crude oil to IOC and other Indian firms and has in recent months started shipping naphtha to Gujarat refiners. His appointment assumes significance as Rosneft is now eyeing more deals with Indian firms including the sale of liquefied natural gas (LNG). Satish, who has deep insight into the Indian oil and gas market and has expertise in petroleum product marketing, petrochemicals, LNG and international trade, is one of the five independent directors on the Rosneft board.