Chinese Energy Company buys from Qatar 14 % share in Rosneft

11/09/2017 14:55 Oil Market


Chinese energy company is ready to pay around $9 billion for 14% share in Russian oil giant PAO Rusneft. 

As reported on Friday by Swiss commodity and trader Glencore the deal offers to CEFC China Energy Co. a 14.2% stake in Rosneft. 


Rosneft Chief Executive Igor Sechin voiced that the high cost of servicing the debt behind the consortium's investment determined the Glencore and Qatar to seek another investor. Glencore will still have in possession 0.5% share in Rosneft and Qatar - 4.7% stake.


According to the Rosneft official the taken step is considered as a significant event for the company, which has reshaped its structure. He was also punctuated that the company’s leadership is happy that the share purchaser is a Chinese corporation. 


CEFC is a private company dealing with energy trade, founded in 2002. It has substantially increased its international presence in the last years, the fact could be confirmed by the company’s consent to pay $100 million and provide $175 million in debt financing for a 19.9% stake in New York financial services firm Cowen Group Inc. 

It has also been speculated that Japanese investors were interested in buying a share in Rosneft.

9 Traits of Highly Effective Energy Consultants [Infographic]

20/09/2017 10:30:00

Procuring energy and managing related risks presents businesses with unique challenges unlike any other goods or services they purchase. Besides, energy commodity prices can be extremely volatile. They can go up and down and are susceptible to unpredictable price increases. They’re also governed by a complex set of rules and inter-relationships.


Global energy consumption to rise by 28% between 2015 and 2040

19/09/2017 13:59:00

By the year 2040, global energy consumption might increase by 28%, as forecasted by the US Energy Information Administration (EIA).


Kazakhstan will get from Vitol up to $5 billion for oil deals

19/09/2017 13:15:00

Commodity trader Vitol has increased its export prepayment loans to state oil companies in Kazakhstan to US$5 billion, reinforcing its position in extracting Kazakh oil at a moment when the production of the central Asian nation might grow, as reported by Financial Times on Monday.