Wednesday 27 September 2017

China's CEFC wins preliminary government approval for Rosneft deal: sources

China's CEFC wins preliminary government approval for Rosneft deal: sources:

"Privately-run conglomerate CEFC China Energy has obtained preliminary state approval for its proposed $9.1 billion investment in Russian oil major Rosneft (ROSN.MM), three sources with knowledge of the matter told Reuters.

CEFC said earlier this month it will buy a 14.16 percent stake in Rosneft from a consortium of Glencore (GLEN.L) and the Qatar Investment Authority, strengthening energy ties between Moscow and Beijing.

The approval was received just about a week after the deal was announced, the sources said."



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