Rosneft may not to receive control over project in Brazil

Rosneft hasn’t managed to close a deal on consolidation of control in the Brazilian Solimoes project, the Kommersant writes on Wednesday, referring to sources familiar with the situation.

The company was to close the deal on the purchase of 6% from the second participant of the project - Brazilian HRT (in early February it was renamed PetroRio) before the end of the year, but it couldn’t came to an agreement. Rosneft recognized in its report under RAS for the fourth quarter that a process of renegotiation of the transaction in a new format, based on the interests of the parties, took place. The company itself doesn’t comment on the situation.

Rosneft missed a little contribution for the project implementation, so the Brazilian partner suspended the deal, one of the edition’s interlocutors reported. Permission from local regulators was received in July and formally Rosneft became the operator of the project. But now, one of the newspaper’s sources thinks, it will be difficult to complete the transaction.