Trafigura sells 10% in Vostok Oil to Hong Kong's Nord Axis Limited

MOSCOW, Jul 13 (PRIME) -- Singapore-based commodity trader Trafigura Group has sold its 10% stake in Russian oil major Rosneft's project Vostok Oil to Hong Kong's Nord Axis Limited, Trafigura said in a statement.

"Following a review of options in respect of its 10% non-operational, passive shareholding in Vostok Oil, Trafigura has now exited its investment. Trafigura’s shareholding in Vostok Oil, including the associated non-recourse bank debt, have been acquired by Nord Axis Limited, an independent Hong Kong registered trading company," Trafigura said.

The sum of the deal was not disclosed.

Trafigura bought the 10% stake in the project in 2020. The sum of the purchase was estimated at 7 billion euros.

Vostok Oil comprises the largest fields of the Vankor cluster – the Vankor, Suzunskoye, Tagulskoye, and Lodochnoye, as well as the promising oil sites in the north of the Krasnoyarsk Region such as the Payakha group of fields owned by Eduard Khudainatov’s Neftegazholding, and the Zapadno-Irkinsky block.

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