CEFC Buys into Rosneft Oil with US$9.1 Billion and Signs 10 million T/A Oil Purchasing Agreement

Recently, China CEFC Energy Company Limited bought into Rosneft Oil with US$9.1 billion and signed an agreement to purchase over 10 million tons of crude oil annually from Rosneft Oil.
CEFC reached an agreement with Glencore and Qatar Investment Agency to purchase 14.16% shares of Rosneft Oil from them, and the total sum is expected to reach US$9.1 billion. After the purchase, CEFC will become the third largest shareholder of Rosneft Oil.
According to the agreement, Rosneft Oil will sell 11-13 million tons of crude oil to CEFC annually since 2018, equivalent to 220 - 260 thousand barrels per day, about 5% of Rosneft Oil’s production, the spokesman of CEFC said.