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Shareholder surprise for Rosneft: CEFC China Energy's bailout of a bailout
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Report summary
CEFC China Energy acquires a 14.16% stake in Rosneft for around US$9 billion from QHG Oil Ventures Pte., a 50:50 consortium controlled by Glencore and Qatar Investment Authority. We summarise the rationale for the deal and what it means for all the players involved. We look ahead to future cooperation between Rosneft and CEFC China Energy and see what upstream projects could whet the appetite of the new investor.
Table of contents
- What happened:
- Russia and China join forces
- Bailout of a bailout
- What it means for Glencore and QIA
- What it means for Rosneft and CEFC
- What it means for the Russian state
- What next?
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