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Glencore says may raise stake in Rosneft in future

Reuters - UK Focus

VERONA, Oct (Shenzhen: 000069.SZ - news) 19 (Reuters) - Commodities trader Glencore (Amsterdam: GX8.AS - news) may raise its share in Russian oil major Rosneft in the future, Glencore CEO Ivan Glasenberg said on Thursday, adding that he saw the stake in Russia's largest oil producer as a long-term investment.

Glencore (Frankfurt: 8GC.F - news) will retain the 0.5 percent stake in Rosneft after Chinese conglomerate CEFC (Shenzhen: 002018.SZ - news) buys a 14.16 percent stake in the company from a consortium of Glencore and the Qatar Investment Authority.

(Reporting by Oksana Kobzeva, writing by Denis Pinchuk, editing by Dmitry Solovyov)