Glencore, Qatar finalise Rosneft deal

The deal leaves Glencore with 0.5% and Qatar’s fund with 4.8% in Russian oil company Rosneft. The deal leaves Glencore with 0.5% and Qatar’s fund with 4.8% in the Russian oil company. At the time, Rosneft chief Igor Sechin said the consortium had run into trouble with financing the major part of that stake. Rosneft sold the 19.5-per cent stake in late 2016 in a surprise deal as part of Russia's privatisation drive -- and as a way to prop up the Russian budget which had been hit by falling oil prices.

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