Offshore

Chinese firm buys USD 9 billion worth of Rosneft

Glencore and Qatar are selling a seventh of the state-owned Russian oil company to a Chinese conglomerate.
Photo: Gazprom
Photo: Gazprom
BY MAZ PLECHINGER, ENERGYWATCH

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.

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