Representatives of Glencore and the Qatar Investment Authority (QIA) were nominated to the board of Rosneft, the largest state oil company of the Russian Federation, the Vedomosti reports citing tw
The Swiss trader Glencore has become the top customer of Urals oil from “Rosneft”. Reuters agency reports citing its own analysis of the data.
The owner of 19.5% of Rosneft’s shares has become the company QHG Shares Pte.
Russian banks will help to finance the purchase of 19.5% of the Rosneft’s shares along with the Italian bank Intesa Sanpaolo, reports the Financial Times.
The consortium of Qatar sovereign fund (QIA) and Glencore, which bought 19.5% of Rosneft’s shares, has succeeded in getting significant benefits from the Russian Government.
Sberbank CIB’s analysts expect that Glencore and QIA as investors of Rosneft will not oppose the implementation of major projects or acquisitions, proposed by the management of the company, a
Glencore trader, who has working in Russia for a long time, now as a result of the deal on purchase of the stake in Rosneft can make a massive bet on the expansion of its operations in the country.
The proceeds from the sale of 19.5 percent of "Rosneft" in the amount of 10.5 billion euros will be converted into roubles gradually.
The terms of the transaction for the sale of 19.5% of the Rosneft’s shares to consortium of the trader Glencore and Qatar's sovereign investment fund (QIA) may not be as profitable as exp
Glencore will invest €300 million of its own funds in the deal with Rosneft, the rest will be financed through bank loans, on which the lender has the right in case of default on the secu