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Wednesday, 7 December 2016

Glencore and Qatar take stake worth €10bn in Rosneft

Glencore and Qatar take stake worth €10bn in Rosneft:
"Glencore and the sovereign wealth fund of Qatar are to take a 19.5 per cent stake in Russian oil company Rosneftin a surprise €10.5bn deal that marks a triumph for President Vladimir Putin.

The deal, which was announced by Mr Putin’s press secretary on Wednesday evening, is the largest under a privatisation programme launched by the cash-strapped Russian government at the start of the year and one of the largest ever investments into the country.

It comes in spite of US and EU financial and technological sanctions against Rosneft, which it was thought would deter western companies’ participation in the Russian oil producer’s share sale, even though they do not prohibit it."

'via Blog this'