* CEO Sechin sees Rosneft as global energy player
* Rosneft pumps around 40 pct of Russia's total oil output
* Morgan Stanley traders to remain in their current
By Katya Golubkova
MOSCOW, Dec 27 Rosneft said on Friday
it will focus on integrating Morgan Stanley's oil trading
unit it agreed to buy last week rather than making new
The move sends a clear signal Rosneft is keen to profit from
its own trading after selling oil for years via international
energy companies such as BP or trading houses such as
Vitol and Gunvor.
Run by Igor Sechin, a close ally of President Vladimir
Putin, the world's top listed oil producer by output took over
TNK-BP in a $55 billion deal this year, continuing to snap up
domestic and foreign assets in a move to become a global energy
Morgan Stanley agreed to sell the majority of its global
physical oil trading operations to state-controlled Rosneft,
becoming the latest Wall Street firm to dispose of a major part
of its commodity business.
Deutsche Bank announced two weeks ago that it was also
largely exiting commodities trading, while JPMorgan is selling
its physical trading operations.
"At the moment, we are focused on this deal completion and
the asset's maximum possible integration into the Rosneft
structure," the company told Reuters in an emailed reply to a
question about its future trading acquisition strategy.
Rosneft, which pumps around 40 percent of Russia's oil
output of 10.6 million barrels a day, said the roughly 100
traders and 180 back-office personnel joining under the deal
would stay in their current cities - London, New York and
Still, Rosneft's trading desks will still be dwarfed by BP's
trading operation of over 3,000 people. It is unclear
whether any core Rosneft staff will join new hires abroad later.
Rosneft, which already has an oil trading division in Geneva
helping to supply its refining assets in Europe, did not gave a
breakdown of how staff will be internationally split. Neither
Rosneft nor Morgan Stanley disclosed the price.
On Friday, it said that the deal will become "a platform to
create a first class international marketing and sales
structure," which will centralise Rosneft and third parties oil
and products' flows aiming to raise sales effectiveness.
The deal is the latest push by Rosneft into North America
and follows an agreement with ExxonMobil in 2011 which
gave the state-run company access to some projects, such as the
Cardium tight oil project in Canada, West Texas unconventional
exploration and deepwater exploration in Gulf of Mexico in the
The purchase will not include Morgan Stanley's oil storage,
pipeline and terminals firm, TransMontaigne Inc., which may help
avoid significant scrutiny of the deal in Washington.