Rosneft's deal on VNHK may require coordination – FAS.
Edited by Rhod Mackenzie / 2015-09-09 06:28:24
China Finance Oil and Gas Refining Russia Petrochemicals PolymerUpdate Sinopec China Oil and Gas Russia Oil and Gas BP-TNK Lukoil Production and Refining
The deal of Rosneft, the largest state-owned oil company of Russia, and China National Chemical Corporation ChemChina for the purchase of shares of "Eastern Petrochemical Company" (VNHK) may require prior approval of the law on foreign investment, the website of the agency informs referring to the statement of Armen Han, the head of the control of foreign investments FAS RF.
Last week Rosneft and ChemChina signed a memorandum of understanding on cooperation on the VNHK project. The memorandum concerns the proposed acquisition of a controlling stake in VNHK by ChemChina and identifies key stages of investment.