Global commodities trader Trafigura has completed the purchase via a wholly-owned subsidiary of a 10% stake in Rosneft’s Vostok Oil project in the Arctic, the company said on Wednesday.
“The acquisition is majority financed by long-term debt financing provided to the entity,” Trafigura said in a statement without disclosing the figure paid.
President Energy plc (LON:PPC) is an independent oil and gas company focusing primarily on high margin production opportunities in Latin America.