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Monday, 3 April 2017

Rosneft takes key step in push into Middle East

Rosneft takes key step in push into Middle East:

"Russia’s Rosneft will this week take custody of its first independently sourced cargo of Kurdish crude oil from Turkey’s port of Ceyhan, a key step in its strategic push into Middle East energy markets and its attempts to expand trading. The world’s largest listed oil company by output has spent the past four months trumpeting agreements to buy oil from Egypt, Libya and Iraqi Kurdistan, drilling exploration wells in southern Iraq and mulling opportunities in Lebanon, as it chases deals to fuel its fledgling international expansion. Controlled by the Russian state and historically focused on domestic assets, the company’s foray into the Middle East has coincided with the Kremlin’s efforts to position itself as a powerbroker in the region, through its military intervention in the war in Syria that tilted that conflict in favour of the Assad regime and its active role in Libya’s transition from civil war. "

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