Rosneft in strategic push for Middle East markets

Russia’s Rosneft is expanding a strategic push into Middle East energy markets and its attempts to expand trading after trumpeting agreements in Egypt and Libya, Henry Foy writes for The FT. Foy suggests Rosneft is buying more oil from the region, to replace supplies lost in the dissolution of a joint venture with BP at the start of this year. Rosneft recently bought a 30% stake in Eni’s Zohr field, bought cargoes of Egyptian crude, and signed agreements to supply LNG to Egypt. There is also speculation that “it could be seeking to build a substantial presence on the ground, especially in Libya.”