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Qatar sovereign fund to engage in oil extraction in Russia, Putin says

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Qatar sovereign fund to engage in oil extraction in Russia, Putin says

Qatar Investment Authority (QIA), a Qatar sovereign fund, will take part in oil extraction projects on the territory of Russia, Russian President Vladimir Putin announced at a meeting with the representatives of the consortium, which acquired 19,5% stake of Rosneft oil company.

“Our Qatar friends will participate in hydrocarbon production on the territory of Russia. Glencore company will have a long-term contract. I know that you have proceeded with the work over a long-term contract on supplying our oil to global markets. In this context, Rosneft is interested in long-term cooperation in both these areas,” said Vladimir Putin.

We should remind you that on the 7th of December, Rosneftegaz signed with Swiss trader Glencore and Qatar Investment Authority an agreement on the sale of 19,5% of Rosneft stake.

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