As INTERFAX.RU reports, China Energy Company Limited (CEFC) negotiates the purchase of a stake in Rosneft, Reuters reported today, quoting its sources. According to them, the prior talks were conducted since July at the executive level.

It is not still clear how much funds the Chinese company is ready to invest in Rosneft. In addition, it remains unclear whether CEFC will purchase a stake in Rosneft itself or in its sales segment. According to one of the sources, the option of sale of a stake in the new structure, to which Rosneft’s retail assets will be transferred, is being considered, and it is more than 3 ths gas stations, about 150 oil bases and around 1 ths gasoline trucks.

The Rosneft’s petroleum noted that P.R. China is the strategic partner of the company. Rosneft is cooperating with a wide range of Chinese companies, including CEFC, CNPC, Sinopec, Beijing Enterprises Group. ChemChina, CSOC, BSIC, Shandong Kerui Petroleum Equipment.

“We want to note that Rosneft PSJC is not the owner of company’s stakes and, consequently, does not sell the packages of its stakes”, he added.

In early July, Rosneft and CEFC signed the agreement on strategic cooperation, which stipulates the interaction of the parties in such regions, as oil exploration and extraction, oil processing and oil chemistry, trade of oil and oil products, retail sales and financial services.

The parties agreed to consider the possibility of creation of a vertically integrated joint venture on the RF territory for implementation of projects in the oil and gas industry as well as joint investment fund.

The signed agreement also stipulates the option of acquiring a stake in Rosneft’s retail business for Chinese corporation. Within the new development strategy Rosneft also plans to transition to the holding governance structure with development of the pilot project in the retail segment.