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Russia Sells Large Stake in Oil Giant Rosneft

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Business Matters: Russia Sells Large Stake in Oil Giant Rosneft

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08/12/2016 GMT

BBC World Service - Business Matters, Russia Sells Large Stake in Oil Giant Rosneft

Commodities trader Glencore and Qatar sovereign wealth fund buy almost 20% of Rosneft

The giant commodities trader, Glencore, and the sovereign wealth fund of Qatar are buying almost a fifth of Russia's state-owned oil company Rosneft.

Almost 20% of the Russian state-controlled oil company Rosneft is about to pass into the hands of the mining and commodities-trading giant Glencore and Qatar's sovereign wealth fund. We speak to energy markets editor David Sheppard from the Financial Times about the significance of the deal.

Plus, it is said to be the biggest discovery of oil for the past three decades. The Kashagan field is in the northern Caspian Sea, in waters owned by Kazakhstan. But with a series of delays in getting the field open, the big question now is how long it will take investors in the project to get their money back, or even make a profit. The BBC's Abdujalil Abdurasulov reports from the official ceremony. 

The Indian government's recent decision to withdraw higher-value banknotes was designed to curb corruption. In the short term though it has led to chaos and confusion. But some companies and shrewd operators are managing to profit from the disruption. We hear from Shilpa Kannan in Delhi. 

Also, Can the Governor of Iowa help rebuild Donald Trump's fractured relations with Beijing? And what do you do when a party invite goes viral? The father of a 15-year-old girl has opened the doors to more than a million people at his daughter's party in Mexico.

The BBC's Roger Hearing is joined by guests Simon Littlewood, president of management consultancy AC Growth Delivered, and Peter Morici, economist at the University of Maryland.

(Photo: Rosneft oil rig seen at the Rosneft's Vankor oil field in eastern Siberia Credit: Sergey Ponomarev/AP)

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