China is seeking unprecedented access to Russia’s energy sector with a demand for a management role in the state-owned oil company Rosneft.
In an interview with Rossiya-24 television on May 30, the chairman of China National Petroleum Corp. (CNPC), Wang Yilin, raised the prospect of buying a large block of Rosneft shares in the company’s upcoming partial privatization.
CNPC already has a small stake in Rosneft, acquired during an initial public offering in 2006, Wang said. The government plans to sell 19.5 percent of Rosneft shares this year, reducing the Russian state’s holding to just over 50 percent.
“If Rosneft makes a proposal, …read more
Source: Radio Free Asia
