Russian state-owned oil company Rosneft is being forced to front-load oil deals in order to quickly raise money to fund a $7 billion (£4.6 billion) debt repayment due on Feb. 13. According to Reuters, the company has committed to sell around 500,000 metric tonnes of oil to wiss oil trading company Trafigura this month. That figure is more than double its usual 150,000-200,000 tonnes agreed on as part of a five-year financing agreement reached in 2013. The new deal with Trafigura illustrates the huge pressure the Rosneft is currently under to raise funds after international sanctions over Russia’s role in …read more
Source: Business Insider
