Rosneft CEO Says Glencore, Qatar Investment Fund Gain Equal Stakes in Company

© Sputnik / Maksim Blinov / Go to the mediabankRosneft pavilion at the SPIEF Investment & Business Expo at the St. Petersburg International Economic Forum
Rosneft pavilion at the SPIEF Investment & Business Expo at the St. Petersburg International Economic Forum - Sputnik International
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The members of the Glencore consortium and Qatar investment fund received equal stakes in Rosneft as part of privatization of the Russian oil company, Rosneft CEO Igor Sechin said Wednesday.

Igor Sechin - Sputnik International
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MOSCOW (Sputnik) – Rosneft CEO said at the meeting with Russian President Vladimir Putin that the members of the consortium will have equal stakes, 50% each.

Sechin also said that Rosneft and Glencore consortium will sign a long-term deal on oil deliveries as part of privatization of the Russian oil company.

"The deal is not just a portfolio investment, [it] has strategic importance and such additional elements as conclusion of the long-term agreement with Glencore, [and] coordination of the market position resulting from this work, as well as establishment of a special joint enterprise to produce [oil] with this consortium on the Russian territory and [within the framework] of the international projects," Sechin said at the meeting with Russian President Vladimir Putin.

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