Chinese conglomerate CEFC China Energy will invest USD 9.1 billion in the purchase of 14.16 percent of state-owned Russian oil company Rosneft. The stake will be taken over from mining company Glencore and Qatar Investment Authority (QIA), report media sources including Reuters.
The two sellers have only been co-owners of Rosneft since last December, when they spent around USD 10 billion on a 19.5-percent stake of the oil company, which Russia was selling to improve the national budget. This task had faced challenges from a combination of low oil prices and western sanctions against the country after the annexation of Crimea in Ukraine.
Already a subscriber? Log in.
Read the whole article
No credit card is needed, and you will not be automatically signed up for a paid subscription after the free trial.
- Access all locked articles
- Receive our daily newsletters
- Access our app
Get full access for you and your coworkers.Start a free company trial today
Your trial for EnergyWatch has now started
With your free trial you get:
Full access to all locked articles on EnergyWatch.
Daily newsletter and ongoing top-newsletters. You can unsubscribe and subscribe to our newsletters anytime.
When your trial period expires
You will not be transferred to a paid subscription.
You will continue to receive our newsletters after the trial period expires. You can unsubscribe at the bottom of each newsletter.