Qatar via QH Oil Investments LLC, owns another 18.93 percent, other international shareholders include BP (BP.L), has 19.75 percent. Analysts have said that the renunciation of state control will limit the risk of new U.S. sanctions being imposed on Rosneft. Reporting by Darya Korsunskaya; Additional reporting by Olesya Astakhova, Vladimir Soldatkin, Anton Kolodyazhyy and Tom Balmforth in MOSCOW; Matt Spetalnick in WASHINGTON, Ron Bousso in LONDON and; Saeed Azhar in DUBAI; Writing by Katya Golubkova; Editing by Andrew Osborn and Jan Harvey Washington has long criticised Rosneft for working in Venezuela. Rosneft, which normally pumps 4.7 million barrels of oil a day, said in a regulatory statement that Rosneftegaz now owned a 40.4% stake, down from just above 50% before the deal. In a separate statement, Rosneft said it had divested its stake in a private security firm that had become the owner of 80% of the National Petroleum Consortium, a Russian entity that has worked in Venezuela. This year, U.S. sanctions were put on two Swiss-based Rosneft units - Rosneft Trading and TNK Trading International - that Washington said had provided Venezuelan President Nicolas Maduro and his state energy company PDVSA with a lifeline. A spokesman for the Russian government declined to comment. The divestment of its interests in Venezuela may shield the oil company from future sanctions risks. Other Rosneft shareholders include BP, which has a 19.75% stake, and the Qatar Investment Authority (QIA), via QH Oil Investments LLC, which owns another 18.93%. Rosneft told Reuters in March that its decision to terminate operations in Venezuela was designed to protect shareholders. “(Fresh) sanctions on Rosneft would quite logically fit into the new oil market construction when the United States and Saudi Arabia are talking about jointly cutting production and don’t need Russia to fill Saudi’s place in the market.” The State Department did not address a Reuters question on whether Rosneft was believed to have acted to avoid further sanctions on its units or the United States’ targeting of the main company. The change of ownership announced on Saturday means any future U.S. sanctions on Russian-controlled oil operations in Venezuela would target the Russian government directly. MOSCOW (Reuters) - Russia’s state holding company Rosneftegaz has relinquished its controlling stake in the country’s largest oil producer, Rosneft, Rosneft said on Friday, after Rosneft’s exit from Venezuela. International shareholders include BP, which has 19.75 per cent, and Qatar via QH Oil Investments LLC, which owns another 18.93 per cent. International shareholders in Rosneft, headed by Igor Sechin, a long-standing ally of President Vladimir Putin, include BP, which has 19.75%, and Qatar via QH Oil Investments LLC… Reporting by Vladimir Soldatkin and Anastasia Teterevleva; Writing by Gabrielle Tétrault-Farber; Editing by Louise Heavens and Kevin LiffeyFILE PHOTO: The logo of Russia's oil company Rosneft is pictured at the Rosneft Vietnam office in Ho Chi Minh City, Vietnam April 26, 2018. Rosneft did not immediately reply to a Reuters request for comment. Rosneft disposed of its assets in Venezuela two months ago as the United States stepped up sanctions against the firm. It did not say who the seller of that stake was. The Kremlin spokesman Dmitry Peskov declined to comment. Other Rosneft shareholders include BP, which has a 19.75% stake, and Qatar, via QH Oil Investments LLC, which owns another 18.93%.
Before the deal, Russia, via state holding company Rosneftegaz, owned slightly more than 50% of Kremlin-controlled Rosneft’s capital. Its main shareholder (50.0000001% shares) is ROSNEFTEGAZ JSC, which is 100% owned by the state, 19.75% of shares are owned by BP, 18.93% of shares are owned by QH Oil Investments LLC… Its main shareholder (40.4% shares) is ROSNEFTEGAZ JSC, which is 100% owned by the state, 19.75% of shares are owned by BP, 18.93% of shares are owned by QH Oil Investments LLC, one share is owned by the Russian Federation represented by the Federal Agency for State Property Management (see Section Equity Capital Structure). “This means that on paper, the state does not have control (over Rosneft) anymore,” the source said. The source said Rosneftegaz had reduced its stake in Rosneft by 9.6% as part of the Venezuela deal, passing the stake to Rosneft as payment for its Venezuela assets. Earlier on Friday, Rosneft said Sechin had been re-appointed chief executive officer for another five years. That will limit the risk of new U.S. sanctions on Rosneft, which pumps 4.7 million barrels of oil a day, at a time when the United States and Saudi Arabia are considering joint cuts to oil supply and will not want Moscow ramping up output, analysts say. It also said that its subsidiary, RN-NeftCapitalInvest, had become the owner of 9.6% of the company. MOSCOW (Reuters) - The Russian state has cut its holding in oil giant Rosneft to below a majority stake as part of its deal to buy the group’s Venezuelan assets, announced over the weekend, a source familiar with the details told Reuters. Neither the government nor Rosneft has said which state entity bought the Venezuelan assets.
Rosneft did not immediately reply to a Reuters request for comment. Washington has long criticized Rosneft for working in the South American country and trading its barrels. QH INVESTMENTS LIMITED - Free company information from Companies House including registered office address, filing history, accounts, annual return, officers, charges, business activity
Those include BP, which has a 19.75% stake, and the Qatar Investment Authority (QIA), via QH Oil Investments LLC, which owns another 18.93%.
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