Is it all about the gas?
CEFC’s investment in Rosneft should bring badly needed financing to Russia’s largest oil company
Private Chinese firm CEFC China Energy may be investing $9.1bn in a stake in Rosneft, Russia's largest oil company, but the lure of gas may be just as important as for oil. The energy and financial conglomerate obtained preliminary approval in late September to buy a 14.16% stake in Rosneft from a consortium of Glencore and the Qatar Investment Authority. The deal is the largest ever direct investment by a Chinese entity in Russia. Under the terms of the agreement, Rosneft has pledged to give CEFC access to its oilfields and petrochemical projects in East Siberia, not far from the border with China. Rosneft executive Mikhail Leontyev told local business newspaper RBK daily that the company i
Also in this section
22 November 2024
The Energy Transition Advancement Index highlights how the Kingdom can ease its oil dependency and catch up with peers Norway and UAE
21 November 2024
E&P company is charting its own course through the transition, with a highly focused natural gas portfolio, early action on its own emissions and the development of a major carbon storage project
21 November 2024
Maintaining a competitive edge means the transformation must maximise oil resources as well as make strategic moves with critical minerals
20 November 2024
The oil behemoth recognises the need to broaden its energy mix to reduce both environmental and economic risks
