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Japanese Minister Denies Rosneft Investment Rumours

Source: Reuters 9/2/2016, Location: Asia

Japanís trade minister has dismissed reports claiming the government was considering investing in Russian giant Rosneft.

The Nikkei newspaper reported that the Ministry of Economy, Trade and Industry (METI) was considering investing as much as 1 trillion yen ($9.7 billion) to buy 10% of Rosneft through the government-backed Japan Oil, Gas and Metals National Corporation, or Jogmec.

However, Reuters later reported Japanese Trade Minister Hiroshige Seko had denied the newspaper report.

The report came as Prime Minister Shinzo Abe prepared to meet Russian President Vladimir Putin on the sidelines of a two-day business conference beginning Friday in Vladivostok.

The two are expected to discuss closer co-operation in such areas as energy and technology, with Japan hoping to strengthen economic ties and create a breakthrough in a decades-long territorial dispute.

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Related Articles: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Insurance  Investment  Mergers and Acquisitions  Risk Management 


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