Deals
Glencore Dealmaking King Returns With Wager on Oil and Putin
- Trader to buy $11 billion stake in Rosneft with Qatar
- Glasenberg expands Glencore’s trading ties with Russia
Russia Sells $11B Rosneft Stake: Who Stands to Benefit?
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A year ago Ivan Glasenberg was fighting to save his company from short sellers. Today, the CEO of Glencore Plc is back to doing what made his reputation: cutting deals that shake up global commodity markets.
Making a big bet on both the battered oil industry and Vladimir Putin’s Russia, Glencore and Qatar’s sovereign wealth fund joined forces to buy an $11 billion stake in Rosneft PJSC, the Kremlin-run oil producer that pumps more crude than Exxon Mobil Corp.