China looking to top co-owner of Russia’s biggest crude company Chinese state-controlled Huarong Asset Management has bought a 36.2 pct stake inward the unit of measurement of CEFC Cathay Energy through which CEFC is acquiring a $9.1 billion stake inward Russian crude giant Rosneft. According to CEFC filings seen yesteryear Reuters, Huarong has bought the stake inward CEFC inward ii tranches, 1 inward Dec too 1 inward February. Huarong is controlled yesteryear China’s Ministry of Finance. In September, CEFC Energy announced plans to begin 14.16 pct of Rosneft shares from Glencore too the Qatar Investment Authority (QIA). “The lastly construction of Rosneft’s shareholders has been formed,” Rosneft CEO Igor Sechin told Rossiya 24 television.
As business office of a long-term agreement, Rosneft too CEFC Energy inked a bargain on unsmooth crude deliveries inward 2017. According to the agreement, the Russian crude major volition provide CEFC alongside 60.8 1 G one thousand tons of crude annually until 2023.
The understanding covers the evolution of exploration too production projects inward Siberia. The ii companies invention to cooperate inward refining, petrochemicals too unsmooth trading.
According to the Russian producer, the bargain volition growth immediately supplies of unsmooth crude to the “strategic Chinese marketplace too ensure a guaranteed cost-efficient export channel for the company’s unsmooth sales.”
Buat lebih berguna, kongsi:
