Rosneft Gets More Backing for Vostok Oil From Vitol
- Vitol, Mercantile & Maritime will pick up 5% in Vostok Oil
- Trafigura paid 7 billion euros for 10% in the project earlier
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Russian oil giant Rosneft PJSC agreed to sell a stake in its Vostok Oil megaproject to a consortium including Vitol Group, raising more money from trading houses after a Trafigura Group deal last year.
Vitol and Mercantile & Maritime will pick up 5% stake in the project, Rosneft said in a statement Thursday, without disclosing the size of the deal. Trafigura paid 7 billion euros ($8.5 billion) for its 10% stake, Rosneft said in February.