From Reuters, January 14:
Russian state oil major Rosneft is courting investments from global trading houses to help develop one of the world’s biggest oil deposits, after talks with other possible partners stalled following a collapse in oil prices, four sources told Reuters.
Rosneft is in discussions with Vitol, Glencore and Gunvor, among others, over investments in its Vostok Oil project in the Arctic, having already secured a deal with Swiss-based Trafigura, which took a 10% stake at the end of last year.
Trading houses generally avoid investing directly in production, but the Rosneft deal may be attractive as it could give them access to a long-term major source of supply for the growing Asian market....
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