Glencore and Qatar takes $11 billion stake in state-run oil producer Rosneft. Russian President Vladimir Putin personally announced the deal which is expected to close mid-December.
Rosneft, the Russia-based oil firm, has promised to make investments of roughly EUR 13 billion annually through 2018, which is an increase of 30% for the year 2016.
Russia's leading oil producer, Rosneft has proposed investing another $500 million in Venezuela's state-owned Petroleos de Venezuela SA, to increase their stake from the original 16.7%. The proposition has come at a time when the country has declared an economic emergency after oil prices dropped to an alarming $24 a barrel.
Russia's top oil producer Rosneft has signed a memorandum that paves the way for purchasing 30 percent of China National Chemical Corp's [CNNCC.UL], a subsidiary of ChemChina Petrochemical (CCPC), the oil major said on Saturday.
Italian refiner Saras (SRS.MI) and Russian energy giant Rosneft (ROSN.MM) have called off plans to set up a trading joint venture, Saras Managing Director Dario Scaffardi said on Tuesday.
Trafigura [TRAFGF.UL] is emerging as the new king of Russian oil trading, expanding its deal with sanctions-hit Rosneft to export $500 million worth of crude in April from the Baltic, the Mediterranean and Pacific ports, market sources said.
Italian tyre maker Pirelli (PECI.MI), which is being bought by China National Chemical Corp (ChemChina), does not plan to pay a special dividend to its shareholders as part of the buyout plan, two sources with direct knowledge of the matter said.
China National Chemical Corp (ChemChina) is close to becoming the biggest single shareholder in Pirelli (PECI.MI) in a deal that would trigger a 7 billion euro ($7.5 billion) buyout of the Italian tire company.
Russia's top oil producer Rosneft is basing its budget for this year on an average oil price of $50 per barrel, the company's Chief Executive Officer Igor Sechin said on Wednesday.
Rosneft is raising money from Swiss trader Trafigura days before it must repay a $7 billion debt and squeezed by sanctions, industry sources said, seeking new options after a foray into the bond market fueled a devaluation of the rouble.
Russia's ruble rose on Friday to its strongest levels in more than three weeks, in a sharp rebound from its recent all-time lows, after the government ordered exporters to sell some of their hard currency revenues.
Russia's most powerful oil official Igor Sechin said in an interview with an Austrian newspaper that oil prices could fall below $60 by mid-way through next year.
Impromptu talks between Saudi Arabia, fellow OPEC member Venezuela and oil powers Russia and Mexico yielded no agreement on Tuesday on how to address a growing oil glut, ending without any plan to cut output despite a collapse in prices.
U.S. prosecutors have launched a money-laundering investigation into a member of Russian President Vladimir Putin's inner circle, the Wall Street Journal reported on Wednesday, citing people familiar with the matter.
Morgan Stanley said on Friday that there is "no assurance" a deal to sell its physical oil trading business to Russian oil company Rosneft will close.