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Energy

Russia's Rosneft sells stake in Verkhnechonskneftegaz to Beijing Gas for $1.1 billion

The logo of Russia's Rosneft oil company is pictured at the central processing facility of the Rosneft-owned Priobskoye oil field outside the West Siberian city of Nefteyugansk, Russia, August 4, 2016. REUTERS/Sergei Karpukhin

MOSCOW (Reuters) - Russia's oil giant Rosneft ROSN.MM said on Monday it had agreed to sell a 20 percent stake in its subsidiary Verkhnechonskneftegaz to Beijing Gas for around $1.1 billion.

The deal needs to get a green light from regulators, Rosneft added.

Reporting by Katya Golubkova; writing by Maria Tsvetkova

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