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Oil & Gas

Rosneft sells 12% stake in Italian refiner Saras

Russia's Rosneft has sold its 12% stake in the Italian refiner Saras for $187million.
By Reporter
18/01/2017, 11:27 am Updated: 18/01/2017, 11:28 am
Rosneft
Rosneft

Russia’s Rosneft has sold its 12% stake in the Italian refiner Saras for $187million.

The company started reducing its share in Saras in October 2015, initially selling a 9% holding.

The oil producer agreed in 2013 to buy 21% of Saras, which is 50% owned by the Moratti family.

It was part of a move to strengthen Rosneft’s commitment to the Mediterranean area.

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