Rosneft farms into Zohr
Issue 337
- 22 Dec 2016
| 1 minute read
The purchase of a 30% stake in Eni’s Shorouk concession by Russia’s Rosneft marks a significant increase in Moscow’s influence in North Africa, where the failure of United States and Western European policies over the past five years has left a geopolitical vacuum. The deal fits with Rosneft’s focus on international expansion under its chairman Igor Sechin – who is also an influential acolyte of President Vladimir Putin and worked as a military translator in Angola and Mozambique in the 1980s, and who is understood to have a good working relationship with US President-elect Donald Trump’s nomination for secretary of state, the former ExxonMobil chief Rex Tillerson.
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