Rosneft's CEO Says VTB Did Not Finance Share Sale

Wednesday, November 14, 2018

Russian state bank VTB did not finance the recent deal by Qatar to buy a stake in Rosneft and it is verifiable by looking at who has the oil giant's shares as collateral, Rosneft CEO Igor Sechin said on Wednesday.

Reuters reported last week that VTB secretly financed the purchase of Rosneft shares by Qatar's sovereign wealth fund (QIA) this year.

"If it (VTB) did that, it would have the shares as a collateral," Sechin told TV Rain Russian broadcaster on the sidelines of the ASEAN summit in Singapore.

"Check to see if the (Rosneft) shares are at VTB as a collateral and everything will become clear to you. It did not loan to QIA. You have an opportunity to verify that," said Sechin.

VTB on Monday challenged media to a legally-binding bet of 1 billion roubles ($14.8 million) over what it said were incorrect reports it provided Qatar with a loan to finance Rosneft shares sale.

A Reuters spokesman said on Monday: "We stand by our story."


(Reporting by Vladimir Soldatkin; Writing by Andrey Kuzmin; Editing by Mike Collett-White)

Categories: Finance Russia Industry News

Related Stories

Yinson Production Secures $1.17B Refinancing for FPSO Maria Quitéria

Petrovietnam, Partners Sign PSC for Block Off Vietnam

CNOOC Signs Hydrocarbons Exploration and Production Deal with Kazakhstan

Yinson Production, “K” LINE Target Europe's CCS with FSIU and LCO2 Solutions

Yinson Production Closes $1B Investment to Drive Further Growth

Petronas-Eni Upstream Joint Venture to Take Up to Two Years to Set Up

Chuditch Gas Field Drilling Ops Get Delayed to Next Year

Fugro Expands Geotechnical Testing Capabilities in Indonesia

UK Firm Secures Exploration Extension for Two Blocks off Vietnam

CNOOC Starts Production at Offshore Field in South China Sea

Current News

One Shelf Drilling Rig Up for New Job in India, Other for Disposal

Four Jack-Up Drilling Rig Deals Set to Bring In $129M for Borr Drilling

PTTEP Hires Velesto’s Jack-Up Rig for Drilling Campaign off Malaysia

Yinson Production Secures $1.17B Refinancing for FPSO Maria Quitéria

Centrica and Thailand’s PTT Ink Long-Term LNG Supply Deal

Petrovietnam, Partners Sign PSC for Block Off Vietnam

Japan Protests China’s New Oil and Gas Construction Activities in East China Sea

CNOOC Signs Hydrocarbons Exploration and Production Deal with Kazakhstan

Thailand's PTT to Buy LNG from Glenfarne's Alaska LNG Project

Woodside and Jera Agree LNG Cargoes Supply for Japan’s Winter Period

Subscribe for AOG Digital E‑News

AOG Digital E-News is the subsea industry's largest circulation and most authoritative ENews Service, delivered to your Email three times per week

https://accounts.newwavemedia.com