Glencore and Qatar buy stake in Russia's Rosneft

The Russian government has sold a large stake in Rosneft to commodity trader Glencore and a fund managed by the state of Qatar. The sale worth USD 11 billion is described by Putin as one of the biggest transactions in the oil and gas sector this year.

Igor Sechin, CEO, Rosneft. | Photo: Alexander Zemlianichenko/Polfoto/Arkiv

Commodity trading company Glencore along with a fund controlled by the state of Qatar has bought a stake in Russian oil giant Rosneft.

The two players have joined forces to buy a stake of 19.5 percent in the oil company for approximately USD 11 billion, report several international news outlets.

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