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Rosneft opens trading arm in Singapore as part of Asian pivot

Reuters Published on Thu, Mar 07, 2019 / 7:52 AM GMT+8

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(Mar 6): Rosneft is opening a trading arm in Singapore as part of a pivot to Asia, the world’s biggest and fastest-growing energy-consuming region, where the Russian state oil major plans to manage new projects and boost oil sales.

Six sources familiar with Rosneft’s strategy told Reuters the arm, Rosneft Singapore, had been registered at the end of 2018 and that several employees would relocate from Moscow during the spring and summer of 2019.

The office will likely be run by Andrey Bogatenkov, currently the first deputy head of crude and product exports for Rosneft in Moscow, three of the six sources said.