[latest news] Russian media: Russian oil intends to sell shares of retail business Watson
A few days ago sent a reliable news, Russian media said, according to "business man" reported that Rosneft is considering selling shares of retail business to China huaxin. Its retail operations include about 3000 gas stations.
According to Russian satellite news agency Moscow in July 5th quoted the "business man" reported that this is Russia's first attempt to reduce oil retail business. Many large oil companies have begun to complain about the decline in retail sales.
The deal will not be reached as early as 2018. Russian oil sources told the newspaper that the two sides agreed to study joint projects in the areas of mining, processing and petrochemical industries, joint ventures in Russia, and joint investment funds.
China Huaxin has previously invested in oil and gas projects in Kazakhstan, Chad and the United Arab emirates. According to its website, China Huaxin has more than 1000 gas stations in France, Spain and Romania, as well as its own crude oil terminal.
According to Russian satellite news agency Moscow reported on July 4th, Rosneft and China Huaxin Energy Co., Ltd. signed a strategic cooperation agreement in July 4th.
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