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2016-03-17 19:00:00

ROSNEFT SELLS STAKES

ROSNEFT SELLS STAKES

Rosneft is to sell stakes in two major assets to Indian companies in deals that could raise as much as $4bn for the Russian state-controlled oil group, which is struggling under a hefty debt burden and western sanctions.

The deals, announced on Wednesday after a visit to New Delhi by Igor Sechin, Rosneft's chief executive, are the latest sign that the Russian company is willing to sell equity in some of its most prized resources to foreign investors in order to raise money to finance their development.

Rosneft said on Wednesday it had signed a binding agreement to sell a 29.9 per cent interest in its Taas-Yuriakh…

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Tags: RUSSIA, ROSNEFT, OIL, PRICES

Chronicle:

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