CEFC China Energy is in early talks to buy a stake in Russian Rosneft, according to exclusive sources who spoke to Reuters on August 18, 2017.
Senior executives at both firms have begun negotiations regarding a deal, the sources told the news agency.
Reuters sources did not reveal information on the cost of the deal, but 1 source suggested Rosneft would be open to selling the Chinese company a portion of its retail business, which includes 150 storage facilities, as well as thousands of filling stations and gasoline tankers.
CEFC plans to expand its influence by becoming an international energy company through its involvement with Russian oil and gas companies.
Russia supplies the most oil to China of all of the country’s most prominent suppliers, including OPEC leader Saudi Arabia.
Beijing Gas attempted to purchase a 20 % stake in Rosneft last year but it is unclear if that deal went through.
To read the full article in Russian.