March 27, 2017 / 10:35 AM / 8 months ago

QIA chief says he's 'absolutely' confident in Rosneft investment

LONDON (Reuters) - Qatar is “absolutely” confident in its investment in majority state-owned Russian oil company Rosneft, the head of Qatar’s sovereign wealth fund said on Monday, speaking to Reuters on the sidelines of an investment conference in London.

FILE PHOTO: A view shows an oil derrick and other facilities at Vankorskoye oil field owned by Rosneft company north of Krasnoyarsk, Russia March 25, 2015. REUTERS/Sergei Karpukhin/File Photo

Qatar Investment Authority and commodities trader Glencore paid $10.8 billion for a 19.5 percent stake in Rosneft last year.

Asked if he was confident about the investment, Sheikh Abdullah bin Mohamed bin Saud al-Thani, chief executive of the QIA, said: “Absolutely, no doubt.”

Reporting by Claire Milhench and Tom Finn

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