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Glencore CEO, Qatar Foundation representative nominated to join Rosneft Board of Directors

March 10, 2017, 10:11 UTC+3

Earlier the Russian government has nominated seven candidates for Rosneft Board of Directors

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MOSCOW, March 10. /TASS/. Glencore CEO Ivan Glasenberg and Qatar Foundation President of Research and Development Faisal Alsuwaidi have been nominated as candidates for Rosneft Board of Directors, according to Rosneft.

Earlier the Russian government has nominated seven candidates for Rosneft Board of Directors. Among those nominated are: Andrey Akimov (Chairman of the management board of Gazprombank), Andrey Belousov (Assistant to the President of the Russian Federation), Matthias Warnig (Managing director of Norm Stream 2 AG), Oleg Viyugin (Professor of the Finance Department of the State University Higher School of Economics), Alexander Novak (Energy Minister of the Russian Federation), Igor Sechin (Chief Executive Officer of Rosneft) and Donald Humphreys (former Treasurer at ExxonMobil).

Overall, there are nine board seats in Rosneft, the remaining two are now occupied by President of the BP Group Robert Dudley and Regional President Brazil, Uruguay, Venezuela and Colombia in BP Energy do Brasil and BP Brasil Guillermo Quintero.

In early January 2017, oil trader Glencore and Qatar Investment Autority closed the deal to buy 19.5% of Rosneft shares. Earlier, the consortium signed an agreement to sell 19.5% of Rosneft shares for 692 bln rubles ($11.68 bln). The Russian budget has received 710.8 bln rubles ($12 bln) from privatization, including 18 bln rubles ($303.9 mln) from additional dividends of Rosneftegaz, which were secured by a modified dividend policy approved by Rosneft's Board of Directors in preparation for the company’s privatization.

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