Rosneft opened for the Chinese

Negotiations began to sell a stake in the Russian oil company.
The Chinese CEFC may acquire a stake in Rosneft in September, sources told Reuters. About which of the shareholders of Rosneft can sell the stake (including Rosneftegaz, the British BP, the Swiss trader Glencore, the Qatar fund QIA), is not reported. In July, CEFC acquired the right to buy a stake in the retail business of Rosneft, which will be allocated as part of the plan to transform the company into a holding company.

Chinese CEFC is discussing with Rosneft the purchase of a stake in the oil company, sources told Reuters. According to the agency, preliminary negotiations are now being conducted between the heads of Rosneft Igor Sechin and CEFC E Jianming. The deal can be announced in September during the visit of the Russian delegation to Beijing, sources say.

The main shareholder of Rosneft is state-owned Rosneftegaz (100% owned by the Federal Property Agency), which owns 50% plus one share, 19.75% from British BP, another 19.5% from Qatar Qatar Fund QIA and Swiss commodity trader Glencore, which acquired This package in December 2016 for 692 billion rubles. In the course of privatization.

In order to sell a stake in Rosneft, the government should again privatize. Officially, the agencies were at a loss to assess the likelihood of a new privatization, but until now, plans to further reduce the state's stake in Rosneft below the controlling stake were not forthcoming. Rosneft declined to comment on the rumors. In addition, the decline in the share of BP, Glencore, QIA, or the purchase of a stake in Rosneft, whose shares are traded on the London and Moscow stock exchanges, was also not reported. "As we have repeatedly said, BP is satisfied with the current stake in Rosneft," a British oil company told Kommersant.

It is known that Rosneft considers CEFC as a possible partner in various business areas, in particular in the retail segment. It is planned that Rosneft will allocate this direction during the transformation into a holding, which includes various business units. In July, CEFC was offered to buy a stake in Rosneft's retail - it looks more likely than the sale of a stake in Rosneft itself.