CEFC
Glencore’s move last week to sell most of its stake in Russian oil major Rosneft to Chinese conglomerate CEFC is eliciting admiration from the Swiss oil trader’s rivals.
Chinese conglomerate CEFC will buy a 14.16 percent stake in Russian oil major Rosneft (ROSN.MM) for $9.1 billion from a consortium of Glencore .
Russian oil major Rosneft said on Sunday it signed a cooperation agreement with CEFC China Energy Company for joint exploration in Siberia.
CEFC China Energy, which has grown from a niche oil trader to a sprawling energy conglomerate.
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