Rosneft mulls Singapore branch

MOSCOW, June 27, 2017 – Oil major Rosneft continues its expansion, with Russian media reporting on plans to set up a trading office in Singapore.

Talking to the Izvestia daily, Rosneft head Igor Sechin said the company was working towards this goal. Over the past months, Rosneft has made several moves aimed at expansion, both in terms of trading and exploration and production.

In June, Rosneft and the Kurdistan Regional Government (KRG) agreed to deepen their engagement, announcing increased co-operation on exploration and production with the signing of production-sharing agreements (PSAs) for five blocks. Agreed to on the sidelines of the St. Petersburg International Economic Forum, the deal also cover commerce and logistics.

Earlier in the year, Rosneft and the Kurdistan Regional Government have signed an agreement on pre-financing oil exports from the semi-autonomous Kurdistan Region of Iraq.

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