June 21, 2018 / 11:02 AM / a year ago

Qatar may increase stake in Rosneft, but no current plans

KRASNOYARSK, June 21 (Reuters) - Qatar may consider increasing its stake in Rosneft at some point but there are no immediate plans to do so, Faisal Alsuwaidi, a Qatari representative on the Rosneft board of directors, said on Thursday.

A joint venture between Qatari sovereign investment fund QIA and Swiss trader Glencore bought 19.5 percent in Rosneft in 2016 and later agreed to sell the bulk of that stake to China’s CEFC in a deal which fell apart.

QIA later decided to buy out most of Glencore’s stake in their JV, which will leave Qatar with almost 19 percent stake once the deal is closed. (Reporting by Olesya Astakhov; writing by Kevin O’Flynn; editing by Jason Neely)

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