China's CEFC may buy a stake in Rosneft's retail segment
CEFC China Energy has the option to purchase a stake in Rosneft's retail business as stipulated in an agreement signed by the two companies during the official visit of the President of the People's Republic of China to Moscow.
Aside from retail, the Strategic Cooperation Agreement also covers undertakings in exploration and production, oil refining and petrochemicals, crude oil and product trading, and financial services.
Both agreed to look into a joint investment fund and a vertically integrated joint venture in oil and gas projects in Russia, according to a company release.
CEFC China has important investments in energy, biopharmaceutics, aviation, tourism, infrastructure projects, and possesses bank, equity, and other financial instruments.
