RNFTF - BP planning to sell Rosneft stake to ... Rosneft

Over the weekend, BP (NYSE:BP) announced plans to divest from the Company's ~20% shareholding in Rosneft (OTCPK:RNFTF); after the close Monday, Bloomberg sources indicated BP is planning to sell its ownership stake back to Rosneft. In the current environment, the buyers list for Rosneft shares is short, and the prospect of selling down a 20% stake in the market is similarly unappealing; sources indicated the sale will come at a "huge discount." Majors BP (BP), Equinor (NYSE:EQNR) and Shell (NYSE:SHEL) have already announced plans to walk away from Russian domiciled assets. Though Total (NYSE:TTE) and OMV (OTCPK:OMVKY) carry the most exposure amongst European energy companies, and have been quiet about plans moving forward. Buyers in China and the Middle East, particularly CNOOC (OTCPK:CEOHF), could try and scoop up assets at discounted prices, as few energy companies have the political ability and balance sheet capacity to acquire the assets currently up

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BP planning to sell Rosneft stake to ... Rosneft