China Purchases 14% Of Rosneft From Qatar

OilPrice.com -------- China made a new move to strengthen its relationship with Russia this week by agreeing to buy a 14 percent stake in the oil and gas company Rosneft, according to a new report by the Associated Press. The $9 billion purchase will transfer the Qatar Investment Authority’s 14.16 percent Rosneft stake to CEFC China Energy Company Ltd., Glencore said on Friday. China bought the shares at a 16 percent premium to the Rosneft share price over the past month. Final negotiations and regulatory approvals are needed before the exchange goes through, however. To learn more click on the picture below to read the article.