A flag with the logo of Rosneft, Russias largest oil company, flutters over the Novokuibyshevsk refinery near the city of Samara, October 28, 2010. Reuters/Nikolay Korchekov
Doha: Qatar Investment Authority (QIA) announced yesterday the completion of its acquisition of a 18.93 percent stake of Russia’s Rosneft Oil Company.
The QIA and Swiss Glencore mining company Consortium announced in 2016 the purchase of 19.5 percent of Rosneft in a privatization deal. In early May 2018, it was announced that the consortium would be dissolved, with the Qatar Investment Authority having 18.93 percent of Rosneft, and Glencore holding 0.57 percent.
The QIA is one of the largest sovereign wealth funds in the world. Since its inception in 2006, QIA has built a major global portfolio spanning multiple asset classes and regions across the world.
