RUSSIA > China based CEFC to acquire 14.2% stake in Rosneft from Glencore and QIA Consortium for about $9 billion

CEFC logo photoshop CEFC, a Chinese oil company, is set to buy 14.2% stake in Rosneft from Glencore Plc and Qatar’s sovereign wealth fund with the companies only retaining 0.5 % and 4.7% of their stake respectively. Glencore and Qatar SWF will pay their debt for buying their initial stake for about $12 billion. This deal is a departure from trend in China More …

INDIA > Rosneft and Partners Buy Essar Oil for $13 Billion

rosneft_logo-svg Russia’s state-controlled oil giant Rosneft, Netherlands based Trafigura Group and Russian investment fund United Capital Partners bought India’s second biggest private oil firm – Essar Oil – in an all-cash deal valued at around $13 billion. The deal is expected to close in first quarter of 2017. Rosneft bought a 49 per cent stake in Essar Oil’s refinery, port and More …