Glencore, Qatar sell 14% stake in Rosneft to Chinese energy firm

Glencore PLC and Qatar have agreed to sell the bulk of their nearly 20% stake in Russian oil giant PAO Rosneft to a Chinese energy company.

The deal, worth about 9 billion U.S. dollars, gives China Energy Fund Committee (CEFC) a 14.2% stake in Rosneft.

This makes CEFC the third-largest investor in Rosneft behind the Russian authorities, which owns half of the company, and BP PLC, which owns about 20%.

For more on this, the Beijing Hour’s Shane Bigham spoke earlier with CRI’s financial analyst Einar Tangen.