05:38 GMT +321 January 2020
Listen Live
    Asia & Pacific
    Get short URL

    State-owned China Investment Corporation is interested in acquiring shares of Russia's Transneft oil company.

    NOVOBUREISKY (Russia) (Sputnik) — State-owned China Investment Corporation (CIC) is interested in acquiring preferred shares of Russia's Transneft oil company, Transneft President Nikolay Tokarev said Thursday, adding that a discussion on the issue has already begun.

    "Our Chinese partners were first and foremost also interested in acquiring Transneft preferred stocks portfolio… We supported this idea. At the moment, it is being developed, and it is highly likely that we will have new partners in Chinese [investors]," Tokarev told reporters.

    The senior management of Transneft and CIC held a series of meetings in June, during which they discussed possibilities for future cooperation.

    CIC has other interests in Russia, including the Russia-China Investment Fund (RCIF), established jointly with the Russian Direct Investment Fund, and investing in projects that advance the cooperation between the two countries.


    Germany Received 10.5% More Oil via Druzhba Pipeline in 2016 - Transneft
    Termination of Russian-Ukrainian Oil Treaty Not to Impact Supplies – Transneft
    Transneft Proposes Crude for Sulfur-Rich Oil to Avoid Price Discounts
    Foreign Firms’ Interest in Russian Transneft Growing - Vice President
    share, investments, Russian Direct Investment Fund (RDIF), Russia-China Investment Fund (RCIF), Transneft, China Investment Corporation (CIC), China, Russia
    Community standardsDiscussion
    Comment via FacebookComment via Sputnik