China's CNPC buys 66.2252 mln Rosneft shares at 500 mln usd
China National Petroleum Corp (CNPC) bought 66.2252 mln shares from Russia's OAO Rosneft for 7.55 usd per share or a total of 500 mln usd
BEIJING (XFN-ASIA) - China National Petroleum Corp (CNPC) bought 66.2252 mln shares from Russia's OAO Rosneft for 7.55 usd per share or a total of 500 mln usd, the China Daily reported.
Rosneft is scheduled to go public today on both the London and Moscow stock exchanges in an initial public offering (IPO), one of the largest of its kind worldwide.
By Friday, the IPO had raised 10.4 bln usd.
Previous reports had said that CNPC originally planned to purchase 3 bln usd in Rosneft shares.
The move is expected to increase China's access to worldwide oil reserves.
The two companies signed a protocol promoting further cooperation in fields including petroleum exploration and development in Russia, and refining, processing and marketing in China during Russian President Putin's visit to China last March.
Rosneft has proven oil reserves of 18.942 bln barrels oil equivalent, including 14.9 bln barrels of oil reserves and 691.1 bln cubic meters of natural gas reserves.
Rosneft is scheduled to go public today on both the London and Moscow stock exchanges in an initial public offering (IPO), one of the largest of its kind worldwide.
By Friday, the IPO had raised 10.4 bln usd.
Previous reports had said that CNPC originally planned to purchase 3 bln usd in Rosneft shares.
The move is expected to increase China's access to worldwide oil reserves.
The two companies signed a protocol promoting further cooperation in fields including petroleum exploration and development in Russia, and refining, processing and marketing in China during Russian President Putin's visit to China last March.
Rosneft has proven oil reserves of 18.942 bln barrels oil equivalent, including 14.9 bln barrels of oil reserves and 691.1 bln cubic meters of natural gas reserves.
