Commercial risks overshadow Rosneft’s new North Africa gambit
In depth
Issue 341
- 02 Mar 2017
| 5 minute read
National Oil Corporation (NOC) chairman Mustafa Sanalla and Rosneft chairman Igor Sechin met in London on 20 February. An NOC statement said the agreement they signed “envisages the establishment of a joint working committee… to evaluate opportunities in a variety of sectors, including exploration and production”. The companies also signed a crude oil offtake agreement. This is the first concrete response from an international oil company (IOC) to Sanalla’s plan to bring foreign investment back into the sector, and it was welcomed by NOC as a “step forwards” in its plans.
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