MOSCOW (Reuters) – Russia’s Rosneft ( ROSN.MM), which closed its oil trading arm after sanctions were imposed by U.S. authorities in February, has established a brand-new Geneva-based trading service, 4 trading sources knowledgeable about the matter stated.
FILE PICTURE – The Rosneft logo is pictured on a helmet in Vung Tau, Vietnam April 27,2018 Photo taken April 27,2018 REUTERS/Maxim Shemetov
The brand-new service, Energopole SA, will take on the main functions previously performed by Rosneft Trading of providing Russian oil giant Rosneft’s refineries in Germany and some trading operations in Europe, the traders told Reuters.
” Energopole SA is a 100%subsidiary of Rosneft. The business is involved in industrial negotiations in the interest of Rosneft and has no co