Shares in Russian oil giant Rosneft leapt over five percent Thursday after the Kremlin announced the 10.5 billion euro ($11.3 billion) sale of a stake to commodities trader Glencore and Qatar’s sovereign fund.
President Vladimir Putin late Wednesday hailed the deal for 19.5 percent of the state-controlled firm as the largest in the global energy sector for 2016, a major fillip for the authorities as they seek to plug the country’s growing deficit.
The deal is part of a broader privatisation drive and comes despite Moscow being mired in Western sanctions over the crisis in Ukraine that have played a major part …read more
Source: African news network 7
