China CEFC buys Rosneft’s stakes as Qatar, Glencore cut share stakes #Glencore #Qatar #Rosneft

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China CEFC buys Rosneft's stakes as Qatar, Glencore cut share stakes
CEFC refinery plant

The Chinese firm CEFC will now buy at least 14.16 percent of the company of the Russian oil firm Rosneft from Anglo-Swiss commodity trader and mining company Glencore PLC and Middle-east Qatar.

The stake purchase is a move that will further strengthen the oil energy partnership between Beijing and Moscow.

In recent years, CEFC China has grown from just a niche oil trader to an energy conglomerate.