World’s top oil trader Vitol takes stake in Russian Arctic project
Rosneft, Russia’s biggest oil producer, is turning to trading houses amid sanctions and as projects in fragile regions such as the Arctic become more controversial
10 June 2021 - 20:05
Russian oil giant Rosneft agreed to sell a stake in its Vostok Oil megaproject to a consortium including top oil trader Vitol Group, raising more money from trading houses after a Trafigura Group deal in 2020.
Vitol and Mercantile & Maritime will pick up 5% stake in the project, Rosneft said in a statement on Thursday, without disclosing the size of the deal. Trafigura paid €7bn for its 10% stake, Rosneft said in February...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.