Chinese conglomerate CEFC will buy a 14.16 percent stake in Russian oil major Rosneft for $9.1 billion from a consortium of Glencore and the Qatar Investment Authority, strengthening the energy partnership between Moscow and Beijing. CEFC China Energy has grown in recent years from a niche oil trader into a sprawling energy conglomerate and the transaction will allow China, the world's second largest energy consumer, to boost cooperation with the world's top oil producer. The deal comes as the United States imposes a new round of economic sanctions on Russia, making it ...
China deepens ties with Russia, invests $9.1 billion in Rosneft
Glencore and QIA will retain stakes of 0.5 percent and 4.7 percent in Rosneft respectively