01:38 GMT +318 June 2019
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    A general view shows a building of the China National Chemical Corp., also known as ChemChina, in Beijing on February 3, 2016

    Rosneft, ChemChina Nearing Deal on FEPCO Shares

    © AFP 2019 / FRED DUFOUR
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    Igor Sechin, the head of Russian oil company Rosneft, said that the company and China’s ChemChina are nearing a deal that will see the Chinese chemical giant buy shares in Rosneft’s chemical subsidiary FEPCO.

    BEIJING (Sputnik) — Russian oil company Rosneft and China’s ChemChina are nearing a deal that will see the Chinese chemical giant buy shares in Rosneft’s chemical subsidiary Far East Petrochemical Company (FEPCO), the head of the Russian company said Saturday.

    "We will be through all [required] procedures in the coming months, the framework has been signed," Rosneft's CEO Igor Sechin said.

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    FEPCO, ChemChina, Rosneft, Igor Sechin, China, Russia
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