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Russia signs Rosneft deal with Qatar, Glencore
December 10, 2016 / 7:38 PM / 10 months ago

Russia signs Rosneft deal with Qatar, Glencore

MOSCOW, Dec 10 (Reuters) - Russian state holding company Rosneftegaz has signed a deal with the Qatar Investment Authority (QIA) and commodities trader Glencore to sell a 19.5 percent stake in state-owned oil major Rosneft, Rosneft said on Saturday.

The deal was announced by Rosneft Chief Executive Igor Sechin in a meeting with President Vladimir Putin on Wednesday.

Its success suggests the lure of taking a share in one of the world’s biggest oil companies outweighs the risks associated with Western sanctions imposed on Russia over the conflict in Ukraine.

Rosneft said the Russian state budget will receive 710.8 billion roubles ($11.37 billion) from the sale, including 18.4 billion roubles in additional dividends from Rosneftegaz. It said the additional dividends from Rosneftegaz were due to a change in Rosneft’s own dividend policy.

$1 = 62.5227 Russian roubles Reporting by Katya Golubkova; Writing by Jack Stubbs and Alexander Winning, editing by David Evans

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